The blockchain platform NEO rewards holders of their native cryptocurrency. Earning this reward is simple, as all you have to do is store your NEO in an official NEO wallet. Binance also rewards NEO coin holders, but since it’s an exchange, you don’t hold the private keys and thus don’t really own the coins yourself. It’s an industry best practice to keep your cryptocurrencies in a private wallet. Other exchanges keep the rewards for themselves, so get your NEO out of those.
NEO holders are rewarded in GAS, the token used on the platform to pay for transactions. This means that as long as there are transactions on the NEO blockchain, GAS will be in demand – and thus will have value – which makes receiving free GAS tokens a pretty sweet deal. You can calculate the GAS reward for your NEO holdings here.
KucoinShares (KCS) are the native tokens of the Kucoin exchange, an increasingly popular cryptocurrency exchange. KCS has been used to attract funding to develop the exchange, and in return, Kucoin shares their daily profits with KCS holders.
50% of their earned transaction fees are rewarded to KCS holders on a daily basis, proportional to the number of KCS they’re holding. This percentage will decrease over time, but the transaction volumes are expected to increase, so the net reward will remain more or less stable. You can calculate the passive income for holding KCS here.
Ark employs a Delegated Proof-of-Stake consensus mechanism. This model is best described as a representative democracy, in which Ark holders vote for delegates to represent them. Voting is done with Ark coins through the official Ark wallet. Hereyou can find the list of all delegates to choose from.
The delegates are responsible for verifying transactions and securing the network, for which they receive payment in transactions fees and occasionally Ark coins. If delegates perform their tasks poorly or do not live up to the demands of their voters, Ark holders will replace them by voting for other delegates. For a full explanation, see this blogpost.
Once you’ve cast your vote, the delegate you’ve voted for pays you in Ark as a reward for your support. Voting with your coins is all you have to do to generate income. To start earning a passive income through Ark, you will first need to deposit your holdings into an Ark wallet. You can find the latest version of Ark wallets here.
PIVX is a fork of Dash, but in contrast to Dash, it has a strong focus on privacy. It uses a Proof-of-Stake mechanism for the mining of PIVX coins. Similar to NEO, PIVX rewards its coin holders for storing their digital assets in the PIVX wallet. No matter how small your holdings, everyone can stake and earn dividends by doing this.
There is one important prerequisite for earning rewards through PIVX staking, though: your wallet needs to be open and online to earn rewards. If you only run your wallet for half a day, you get half the rewards. Click here to calculate the rewards. To be able to earn through staking, you need to download the PIVX blockchain through the installed wallet, which can take several hours.
SIA allows anyone to make money by renting out their spare digital storage space through decentralized cloud storage. In this way, the platform leverages unused hard drive capacity all over the world. Instead of going through third parties, SIA’s cloud storage is based with its users, who earn by sharing their spare storage capacity. Storage providers engage in smart contracts to ensure they live up to their end of the deal and get paid for providing storage. For a full explanation, check out this video.
So, if you have plenty of space left on your hard drives, you can start monetizing it through the SIA platform. Since it’s an open market, the income earned in SIA coins for providing storage does fluctuate, and will move towards an equilibrium once the SIA cloud gets more users on board. You can find all the tools for providing storage here.
Other Passive Income Coins
Even though these are our 5 favorite passive income coins, there are many more out there, especially the coins based on the Proof-of-Stake model. These include but are not limited to:
#VeChain(Thor)
Good luck sitting back and earning more of your beloved digital assets!
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