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Over the last few years, I have generated some crypto assets. Now I enjoy reaping the rewards of those by earning interest on them. I will give you 3 options I use for legit earning from my assets.
Blockchain.com
Being the most popular free wallet for BTC, this is an old company. I personally trust them more than I trust my bank. Of course, they are not perfect, there is much more to desire when it comes to customer support, but in general, I am happy to keep the majority of my saving there. They are offering crypto rewards for assets that you hold there. Covering 18 different currencies:
I'd like to point out that 13.5% on USD-tied stable coins is insanely good. Haven't seen anything better lately on any other platform - usually, others are paying about 10% APR. Also recently they partnered with Celo to offer 16% per year on cEUR which is a coin tied to the EURO and that reward is insane. They announce every month what the reward rate for the next one will be, but the stable coins haven't changed for a long time, at least a year. Also, in my opinion, 3.6% APR on Bitcoin and 4.2 on ETH is also very good. An additional bonus is that they are expecting to launch soon their own Crypto card with which you will be able to spend directly from your account if you want.
As a drawback, I can point out, sometimes the relatively high fees if you pay with a credit card to buy coins from them. I am not entirely sure if a bank deposit will be cheaper, as I haven't tried this option.
Binance's locked staking program. They offer 4 different options - 10, 30, 60, and 90 days for about 100 different assets. The list is too long, but you can check it . Of course, BINANCE as being the biggest Crypto Exchange has multiple other earning tools, however, not even one of them is so simple, user-friendly, and beneficial as the Locked Staking. The easiest way to check the terms of a coin of your choice is to go in your Spot wallet when you log into the platform:
In the top right corner click on "Wallet" and then Fiat and Spot from the drop-down menu. If you do your screen will look something like this:
Normally on the top, you will have coins that you own. And from the menu on the right where it's saying "Action", you will have all the possible actions with each coin. Depending on the coin you own under the "Earn" link there might be 1 to 5 different options.
Each of them will give you different percentages and ways to get rewarded. And each of them has different levels of risk, so before doing anything like that you should be aware that there's always a risk. Please do your own research. Also, you should keep in mind, that when you choose the Locked Staking program, if suddenly you decide to unstake you will lose partially and fully all your earnings. That is why it's best to be sure that you will not need those coins for the selected period of 10, 30, 60, or 90 days. It usually takes a day before and the day after for the funds to return to your wallet. Also, you will not be seeing the staked coins in the Spot wallet. You will only see the rewards that you have accumulated. To check your staked coins you will have to go on the left side of the page in Spot and Fiat and select earn:
Once there you will have to browse the different menus until you find Locked staking. There are also quite a lot of other ways to make your crypto earn you rewards.
Just keep in mind some are riskier than others and you should read about them before going forward.
PancakeSwap
PancakeSwap platform beside the multiple trading options, there is an Earn section.
With 2 options. From those - Farms is more profitable but way riskier so I will leave it aside. The pools option is quite an interesting one. That is where you can stake PancakeSwap's own coin to earn rewards in either CAKE itself or multiple other coins. The percentages are quite high, between 50 and 150%, but most of them being 50 to 60% per year. Meaning that if you have 100 CAKE you will earn about 50 to 60 CAKE per year. To use the platform you will need one of 8 wallets:
Those are installed in your browser and you need to connect them to the website. Also, a few dollars of BNB will be required to pay for your transactions. From there you need to get CAKE token on the BSC blockchain to get started. There are multiple ways and places to obtain it. You can trade for in on Pankcake swap for some other coin you have. You can buy it on an exchange like Binance.
I use my credit card and purchase CAKE from Binance and from there I transfer the tokens to my wallet. Once you have them inside your wallet you go to the Earn-> page and you select an option that you would like to earn. By far the most popular is Auto-Cake, which means that automatically everything you earn will be restaked in order for you to earn more. The manual earning will get your earnings in the wallet. Some of the other coins that you can stake are quite unpredictable compared to the relatively stable CAKE.
This is the full list of tokens that you currently could earn. Some of them are quite obscure, but they can be seen as earning opportunities. I am currently pushing on earning more CAKE with the Auto Cake option.
I'd like to emphasize that CAKE is NOT a stable coin and its price can be quite volatile. it can go up or down at any point. I am currently holding about 200 CAKE and earning about 0.25-27 CAKE each day from this investment.
There are quite a few other places to earn interest on your assets, let me list just a few honorable mentions:
Kucoin Exchange
This is the exchange with quite a few obscure coins which I like a lot. I have tried there their Staking and Lending options. They are working quite well.
Crypto.com
They advertise pretty aggressively their services. However, their Earning options are becoming really good only when you have invested quite a lot of money into their own coin CRO.
MyCointainer
Here you can stake a lot of obscure coins and reap their rewards.
Those are my top choices for earning passive income from the crypto I own. What's yours?
Disclaimer
There are quite a few referral links in this article, mostly to the exchanges. If you join thru them we will both receive some kind of kick-back from the provider.
