An easy way to make money from home at the time of the quarantine #2
An easy way to make money from home at the time of the quarantine #2

By Roberto D. | CryptoFarm | 4 Apr 2020


Here we are at the second appointment of "An easy way to make money from home at the time of the quarantine" in the first article I talked to you about how to earn through your internet connection leaving you also a link that will immediately give you $ 5, in this second episode instead we will talk about how to earn with cryptocurrencies with your loved one and old "HODL".

 

Everyone would like to get something with little or no effort, which is why the idea of obtaining a passive income with cryptocurrencies attracts a lot of attention.
There are some methods that allow cryptocurrency traders to passively earn cryptocurrencies. Whatever the method, they can use the cryptocurrencies they own and receive something in return.
Staking is a method of obtaining passive cryptocurrency. Users earn dividends through PoS, but they can also feel useful knowing that they are playing a vital role in securing blockchain developments.

 

What does Soft Staking consist of? And why is it based on the Proof of Stake?

Proof of Stake or PoS involves betting a certain amount of crypto to reach a distributed consensus and validate transactions on the network.
The creators of the block are chosen randomly, although the quantity and holding period of a particular cryptocurrency can influence the decision.
Prizes are awarded based on the proportion of their participation.

There are several ways in which staking can occur.
One of these is through a wallet provided by the project on which the currency is based.
Projects that develop their own wallet are often seen as promising, as they reflect a lot of time and work spent on the project itself.

Basically with Staking a certain amount of currency is "frozen" for a period of time defined at the beginning (usually 7, 14, or 28 days) and at the end of the period there is a return in percentage of the currency itself which is "frozen" like this.

KuCoin, however, offers a method, in my opinion, much more advantageous than that of Soft Staking.


What is Soft Staking?

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Similarly to actual Staking, Soft Staking consists in having an economic return as a percentage of a certain currency but without it being completely blocked as in the case of Staking.


In short, you earn for the simple fact of owning that currency, the gain is distributed every day and over the course of a year will result in an amount that varies from 1% to 15% of the currency we have in our portfolio.

 

Yes, everything is beautiful but is it convenient?

Personally I have been using KuCoin for a few years and I see my Portfolio grow regardless of the value of the cryptocurrency itself, just have it in your wallet and trade if and when you want and every day you will be given your dividend.

The currencies affected by this program are many and I leave you the list updated to today (April 4, 2020) below (plus the links it refers to KuCoin):

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351665157-a5820f8af1700ad524bca28ae44a478b8f603c21cd44f721ab0d8fa1939f7c02.png

 

In short, in this period of uncertainty both for the world of cryptocurrencies and for the world and just (for obvious reasons related to Covid19) gaining something more never hurts.
However, I would be happy to hear your opinion and if you have any doubt, please comment as well, I will try to answer as soon as possible.

Thanks and see you soon!

 



Roberto D.
Roberto D.

Born in Italy, I live in Italy, passionate about cryptocurrencies since I discovered ethereum in 2015


CryptoFarm
CryptoFarm

All about crypto, faucet, airdrop

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