Cosmos (ATOM) is a rapidly evolving blockchain, whose purpose is to create a network where the various blockchains can communicate with each other in a decentralized way. The currency of this blockchain, $ATOM, is based on proof-of-stake technology and whoever holds it can stake it for the maintenance of the network, receiving rewards in exchange. Thanks to the recent launch of some De-Fi platforms on its blockchain, numerous very attractive income opportunities have arisen, with APY up to 250%.
Let's see them all together, analyzing the risks and potential rewards.
Binance
Risk: Low
Performance: 1.40 - 12.78%
Difficulty: Low
As always, let's start with Binance, an exchange that offers more than one income service: from the simplest ones to those a little more binding.
The first and the simplest is found in the "Flexible Savings" section and provides an APY of 1.40%. It is also possible to activate the self-subscription which allows you to compose the interests received daily. This type of product has no restrictions and in the event of redemption of the liquidity, this is instantly moved to the spot wallet.
The other option is "Staking", where you can choose to start from an APY of 9.47% (if you decide to bind your funds for 30 days) up to an APY of 12.78% (in case the bind is extended to 90 days). During the restricted period, it is not possible to get your ATOMs back unless you decide to lose the reward you have earned. Furthermore, if you activate the self-subscription of Flexible Savings, the accrued interest is automatically shifted and accrues further interest.
Method:
A- Create an account on Binance, here is the LINK where to start.
B- Conclude the KYC procedure.
C- Connect to this section and choose the product you want.
Atomic Wallet - Trust Wallet
Risk: Low
Performance: 7.38 - 10%
Difficulty: Low
Some desktop or mobile wallet applications also offer additional services such as swapping certain tokens or staking. In our case, on Atomic Wallet and Trust Wallet it is possible to hold $ATOM and rent them directly from there with a few clicks. Trust Wallet offers an APY of 7.38%, while on Atomic Wallet you can get 10%. These are two well-known and safe wallets, but it is good to keep in mind some details regarding the $ATOM staking:
- Rewards are distributed weekly,
- To get the rewards you have to perform the "Claim" manually and pay a fee,
- Once you have decided to withdraw your funds from the annuity, you must wait for a blocking period of 21 days.
Method:
A- Download the chosen application from the official website: https://atomicwallet.io/ or https://trustwallet.com/
B- Move the sum that you decide to rent,
C- On Atomic Wallet go under "Staking"> "ATOM"> "Stake"; On Trust Wallet, on the other hand, go to "Finance"> "Cosmos"> "More"> "Stake".
Osmosis Zone
Risk: High
Performance: >150%
Difficulty: Medium - High
Osmosis Zone is the De-Fi platform on the Cosmos blockchain that offers the most attractive returns. To know it and understand how it works, I refer you to my article: My DeFi expeience #2: Osmosis Zone on Cosmos
The achievable returns range from around 150 to 250% and are subject to volatility, as in all De-Fi platforms. Those who decide to use this system must therefore convert part of $ATOM into another currency ($ION, $CRO, etc.) and give liquidity to a pool. Once done, it is possible to bind the LP-Tokens obtained for a period of 1 to 14 days, obtaining a growing interest. The interest will then be paid in $OSMO, the platform's token, which you can sell to get $ATOM back. You can also choose to bind part of the LP-Tokens for a certain period and the remainder for a longer period.
Attention: in this DEx you can rent $ATOM in combination with other coins. Impermanent Loss can therefore be incurred if the divergence of the price of the coins in the same pool is high.
Method:
A- Create a wallet on Keplr, installing its extension on the browser.
B- Navigate to the site https://osmosis.zone/
C- Connect the wallet and perform the desired operations (swap, addition of liquidity, etc.).
Read Also: Best Ways to Earn Stablecoins Passive Income
Top 3 Best Ways to Earn Ethereum Passive Income
Top 3 Best Ways to Earn Bitcoin Passive Income
If you are looking for earnings like me, you will also be interested in: My CeFi experience #2: Celsius Network
If you liked this article please support me by following me here and on Twitter, leave me a like or use one of my referral links below. 👇
-Thank you-
L.
➡️ Join Celsius Network using my ref & earn $50 in BTC
➡️Use BlockFi and get up to 4% on Bitcoin. Read here how to do
