Let’s face it. Speculating on the crypto market is risky. The truth is that most amateur crypto investors lose money because they sell in times like these when they should be buying. However, if you can hang on and stomach the volatility, there are ways to earn consistent passive income on your crypto holdings. Here are three tokens that can earn double-digit APRs on your holdings.
Staking Litecoin (LITE)
Litecoin is a hard fork of Bitcoin and offers similar use cases, however, the network is faster and less expensive to use than the Bitcoin network. Like all cryptocurrencies, LITE’s price fluctuates. However, if you can ignore the volatility going on in the background, you can use LITE to earn passive income.
LITE can be staked on several platforms including the Binance exchange, BlockFi, and Crypto.com, among others. Interest rates for staking LITE can be in the double digits which is even better than the stock market, in the long term.
Staking Shiba Inu (SHIB)
Although Shiba Inu started out as a meme coin with an angle, it has since become a serious force in crypto. Using the ShibaSwap exchange, SHIB holders can burn their Shiba Inu to remove it permanently from the circulating supply. Billions of SHIB tokens have been burned so far.
Why would you want to burn your hard-earned SHIB? Because you’ll receive burntSHIB tokens in return which can then be staked. The APR for burntSHIB is also in the double digits.
Staking with Gnox Token (GNOX)
Gnox Token offers a different kind of staking. Rather than staking with a single asset, crypto investors can invest in a wide variety of passive income opportunities across several platforms and blockchains. All they have to do is hold the token, and the Gnox team does the rest. They call it “yield farming as a service.” It can also be thought of as a financial manager for your crypto investments.
Options such as staking, lending, and liquidity pooling are examined by a team of seasoned DeFi investors. GNOX holders have the opportunity to vote on which investments are worthy.
Capital to invest in these opportunities comes from a common treasury. Every time someone sells GNOX tokens, a portion of the sale — a royalty, if you will — gets added to the treasury assuring that the treasury grows continually no matter which direction the market is headed. The profits from passive income are used to buy back and burn GNOX tokens with a portion also being airdropped back to holders.
Interestingly, if you invest in GNOX now, before the platform officially launches in mid-August, you’re pretty much guaranteed to see the price of your GNOX tokens rise. This is because each month before the launch a portion of the tokens is burned. Then any unsold tokens will be burned upon launch both assuring a fair launch and increasing the price of the token. The earlier you get into the pre-sale, the more your stack will be worth come mid-August.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.