Passive Income generation with Crypto
Passive income generation is quite popular these days and people try to find ways to have passive income. Covid has made us realize the value of passive income because we never know that anything can happen with our main source of income and if affects us immediately and badly.
Hive is undoubtedly a great platform to generate passive where we can buy Hive and Leo coins. We can stake these coins and generate passive income and I have been doing it already. Now I have started doing it with Tron as well and a few months back I had created an account with one of the Indian exchanges known as Coindcx. I did check some features of the exchnage and staking is one of the best functions that I liked very much. I am not a trader and I rarely trade so staking is a useful service for me and in this post, I am going to talk about it.
Today in this post I am talking about the exchange CoinDCX and its one of the leading exchanges in India. They offer and LEND and STAKE options to earn money by crypto and this is another nice feature.
Choosing an exchange is very important because we keep our money on the platform and it is very important that we choose a name that is reliable and I am very happy to share that this exchange has insurance for all their holdings. They have ensured all the holdings by BITGO so users never have to worry about their funds. It is one of the exchanges that has got funded by coin bass and we all know that coinbase is one of the biggest exchanges across the world and have recently launched their IPO as well in the US. They have invested in the exchange and for sure it makes the exchange reliable trustworthy and highly advanced loaded technology and this is all we need as a customer or user with any platform.
There is an option to stake many coins and they are also parts of ETH locking. I have selected tron coin. I can deposit coins with this page and it will start earning some income on this.
I did one staking of 112 approx trx in July 2020 and still getting some reward on monthly basis. They have recently made a change that coins will not be clocked and keeping these coins in their wallet will earn the reward.
They pay 1-3% and this amount varies depending upon some calculation by the change.
I have 406.40 tron in my wallet = my average TRX holding/total TRX that exchanges have staked.
In a simple way, I can have a calculation like this.
Earlier I was getting between 0.24 RX to 0.84 TRX monthly so on average I can take it as 0.60 TRX for 112 coins.
now I have added 294 more TRX so if I divide by 112 then the difference is 2.62
2.62 x 0.60 = 1.31 TRX monthly.
Although this figure is estimated and there could be some up and down depending upon exchnage holding and user's holding.
I have staked a very small amount and its obvious that the return will be small too but something is better than noting and anyways I am not going to sell anything soon. Earlier exchnage was locking the funds to get staked rewards but now they don't lock and keeping coins in the wallet is enough to earn returns so users have full control and they can sell whenever they want. This is a nice option in my opinion.
(images are taken from https://coindcx.com/ for post purpose only)
Thank you so much.
Stay Safe.
Posted Using LeoFinance Beta