Here we are again :) Welcome to part 2 of my staking crypto series! A quick recap for those of you that missed out on part 1; we all want to be comfortable financially, work less yet still earn an income that affords us a comfortable lifestyle, to be able to provide for ourselves and our loved ones. I'm exploring ways of doing this that employ Crypto as our vehicle. So far I have looked at mining, which in the end didn't stack for several reasons, staking though seems to offer some hope in the passive income stakes.
Firstly though I want to remind you to do your own due diligence, crypto is a hobby of mine and this isn't financial advice, I have no affiliation with any project I mention except that I hold some of their crypto.
Originally I was going to make one purchase of a fairly new project which is currently paying 177%, on closer inspection of the product though I've decided to give it a miss for now. I won't name them but they have a lot of problems with a recent fork and many of the holders have been having issues with the wallet. When everything settles down I may revisit them but for now I will be putting my money elsewhere. So we have something to compare I will be investing in 3 different crypto's, the first of which is Pundi, ticker NPXS, I chose Pundi because it is paying a very solid return, currently 20.73% p.a.
What is Pundi?
Pundi was founded in 2017, it is a decentralised project which aims to make the use of crypto as easy as swiping a credit card. I'm not going to go into any sort of technical detail, suffice to say the system is a solid one and I feel it has potential, especially in countries where many people are still un-banked. The system is being rolled out in parts of Africa making it the first project to offer a means of spending crypto in main stream stores in that country. They are working on a whole range of other services as well which seem to be making good headway.
Why PUNDI?
They have a good team, it has been around for a couple of years and the return is great for a reasonably mature project. The market cap rank is 58 as of writing which is a great sign and the project seems to be powering ahead and hitting all it's targets. It is also really simple to stake. Being an ERC20 token, that is one that is based on Ethereum, any wallet that can hold Ether can hold Pundi. Your dividends are automatically paid every month and unlike a lot of other staking systems you don't have to leave your wallet open to receive your rewards, reducing the risk of hacking or other problems.
So how do I start?
It's so easy. The first thing you need to do is buy some Bitcoin, I use Coinbase, just follow the link and set up an account. Buy the amount you wish to invest. Next you will send your purchase to an exchange, there are no shortage of exchanges but I like to use Binance. Purchase your crypto and that's it. You can then either send it to your wallet, which I can't recommend strongly enough, or yo can leave it on the exchange. Either way you are now staking Pundi and officially have a passive income.
If you want to learn more about Pundi you can find them here: Pundi. You should read as much as you can and make your own decisions, what seems great to me may seem terrible to you. That's it for this week, hope you found this article helpful :)
If you found this article useful the feel free to donate :)
ETH 0x790036FfD32f387a563389EE610E68a060b14784
BTC 15bvceNzFW6VKTv2fLzmYPykTC567BQhSX
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