After a series of high-profile scams that occurred in 2024, namely the hacking of the official Telegram wallet support bot, the BingX exchange, the official Polygon Discord channel and a number of other major projects, many people, including myself, seriously thought about the security of their assets. How can you safely earn with cryptocurrency in today's realities? This is exactly what I am going to talk about in this article.

It is important to understand that earning with cryptocurrency is becoming more and more popular, more and more people are coming to crypto, and with it the number of all kinds of scams is growing. Many projects promise high profitability and bright prospects for the development of their project, but in reality they are fraudulent or lose liquidity at the stage of listing their token.

In this regard, I remembered a way of making money that has always been characterized by its stability - staking cryptocurrencies.

What staking is and how it works?

Staking is a safe and passive way to make money, where the risk of losing money is close to zero and the income is guaranteed. Staking involves storing your cryptocurrency on the blockchain to keep the network running. In return, stakers receive income in the form of additional tokens. This type of income can be compared to a bank deposit. As with deposits, stakes earn interest on an annual basis. However, in crypto this rate is usually higher than in a traditional bank. The return on staking depends on a number of factors and on average can range from 5% to 24% per annum, and in some cases higher.

However, it is worth paying close attention to the platform you choose to stake your coins on. In my search for such a trustworthy platform, I have researched various platforms and found the leader that I like the most - it is the CoinDepo project.

Why is CoinDepo the best option for passive income? 

In the course of my experience, I've been through several dozen platforms for staking. I tried to stake my tokens on many of them. However, only 2 platforms really caught my eye - NEXO and CoinDepo. But I still put CoinDepo in first place. And there are objective reasons for this:

• CoinDepo has flexible deposit terms. It offers a stake format from 1 day to 1 year, which allows you to choose the most convenient terms.

• On the platform you can get a high return.  Typically up to 18% APR on major cryptocurrencies and up to 24% APR on stablecoins plus compound interest.
• There is no minimum deposit. Unlike NEXO, Coindepo has no minimum deposit requirements, which greatly lowers the entry threshold to start trading.
• All funds on CoinDepo are protected. The platform uses the Fireblocks security system and funds insurance, which makes it safer than other similar platforms.
• All this, in my opinion, makes the platform very attractive for long term betting. 

How to start staking on CoinDepo: detailed instructions

If you have not used the platform before, the first thing you need to do is register. Follow the link and register by entering your email and password, or authenticate using your Google or X (Twitter) account.

Once you have registered, you will be taken to your personal account with a dashboard that will give you information about the coins you have already invested, as well as a return calculator.

To start staking, you need to choose a cryptocurrency or stablecoin for staking. I have attached the supported coins below. 

The next step is to choose the term for which you want to lock your assets. Remember that it should be between 1 day and 1 year.

Once the deposit has been activated, you will start receiving income immediately. The interest earned is paid daily, weekly, monthly, quarterly, half-yearly or annually, depending on the plan you choose.

Is it safe to stake with CoinDepo?

Asset security was the key factor I used to choose a staking platform. Coindepo boasts a partnership with Fireblocks, one of the best security systems for storing cryptocurrencies. It also uses the best technology to protect users' assets.

In addition, all assets are insured and backed by additional liquidity from guarantors (the so-called "CoinDepo Overcollateralization Mechanism"), which provides additional security. Thus, all the security features applied by CoinDepo put the project in one of the leading positions among platforms in terms of security.

CoinDepo Token: How to earn up to 65% per annum on staking?

If you want to earn more than 24% APR, you can stake the CoinDepo token (COINDEPO).  COINDEPO is a utility token of the platform that allows you to earn up to 65% per annum by staking.

On top of that, if you manage to buy the token during the private sale phase that is currently ongoing, you can increase your returns up to 600% per annum thanks to a 75% discount on token purchases. I think this is a cool tool for those looking for high passive income with low risk. The balance here is perfect.

I have a very small amount invested in CoinDepo tokens. Most of it, just so you understand, I have stored in stakes that are staked here on the platform. Keep in mind that the price of a token can change over time, unlocks can occur that dilute the total number of coins, causing the coin to lose value. Many other factors can also affect the price. Therefore, it is not advisable to invest too much in a platform token. Such small cap tokens can be very volatile and you should invest in them with special care. But for the sake of 600% per annum, I decided that I still want to risk a small percentage of the bank, especially since the project is working and already has a solid base of active users, as well as crypto assets worth tens of millions of dollars under management.

New CoinDepo platform features

Over time, CoinDepo is developing and expanding its list of services. In the near future, the platform is set to launch micro-lending without collateral - another interesting feature that, to my recollection, will appear for the first time in the cryptocurrency world. Correct me in the comments if there have been similar platforms before, but I honestly can't remember.

Users will be able to borrow without having to freeze their own assets as collateral. This will provide more liquidity and flexibility when using the tool. I will definitely test this feature after the release.

In addition, a credit line without a collateral account will be implemented, which will allow you to earn interest on your assets even when using credit.

And in the future, the project plans to release a cryptocurrency credit card that will allow you to use the assets in your daily life. Metal, plastic and virtual cards will be available, offering up to 8% crypto cashback on every purchase. Sounds pretty good, let's see how well the project can implement such a feature when it launches.

Is CoinDepo worth staking with in 2024?

Due to the market turbulence and frequent scams that have been happening regularly this year, I decided to go for the safest way to make money - that is to bet. As far as I'm concerned, it's much safer and more profitable than investing in projects where some of the tokens roll up over time and you see -90% on your account, some of the projects crash before the release and you go to zero at best, at worst - lose your bank.

I stake some of my tokens on CoinDepo, and I also bought a platform token at a 75% discount to stake it at 65% APR on a small portion of my bank with a 600% earning potential. However, I have more other crypto assets staked on the platform. Whether you do or not is up to you. I have only outlined my thoughts on the project. Don't forget to do your own research, and once you start staking, check the platform page regularly to track your results.

If you'd like more reviews like this, write in the comments and that's it for me. Have a great investment!