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I am writing this down to give you an insight into understanding, not only how to earn passive income with a staking cryptocurrency, but how to continue to earn free coins in order to gain more dividends. For sake of simplicity, we will use Reddcoin for this example.
REDDCOIN
The first thing you will need is a Reddcoin wallet. Go to https://www.reddcoin.com/#redd-wallet and download the wallet that works for you. The next thing to do is to open your wallet and let it sync the entire Block-Chain on your computer. This can take a few days, depending on the speed of your computer.
Now it is time to get some coins. There are many ways to get coins and you may have to exchange some coins you have in an exchange. The beauty is you will be able to start staking as the coins age. The trick here is to remember, holding any other cryptocurrency that is not a staking coin will not be able to yield a dividend. Time to put those coins to good use.
EARNING FREE REDDCOIN
The next place I am going to show you is how to earn free Reddcoin, with very little effort. Auto-Faucet websites are worth it if you use them wisely. Go to this site Auto-Faucet, and sign up for a free account.
Once you have a free account, go to the settings and put in your address to Reddcoin, You can do as many as you would like, as stated we are focusing on Reddcoin. Once that is done look at the left tab where it says “Free Token” Click that link Now you will see a page of all advertisement links for you to view.
I take a whopping 10-20 minutes a day to get 8 hours of the faucet collecting coins every 10 minutes. The reason I use 10 minutes is two fold, 1. it gives a little more coins. 2. I get a bonus added to my claim of 2%.
I do this daily and at the end of the week, I send the amount collected to my coinomi wallet. I keep it there until I have a good amount to send to my staking wallet. With this coin, it does not take long to have a good amount.
Another thing every different deposit, I send to another address. Privacy is a major reason for this. The main reason though, is that only you will know the exact amount you carry in your wallet.
CONCLUSION
The staking coin is entirely up to you. I used Reddcoin, because it has a good team and it has never failed me. Staking is the equivalent to mining without all the resources of the computer being used. While the coins are staking, I can use the computer without being slowed down. I hope this gives you a better insight.
