As we grow bigger so are our bills. Hence a need for multiple streams of income if you must live a life with little money worries and what better ways to do this other than passive income streams.
In my three years active search for means of livelyhood, the hive block chain have proven to be one of the most reliable and rewarding income stream. Below are the 3 Ways I have earned passive income from hive blog.
STAKE
Staking is basically a form of investment where you lock up your crypto holding strategically to generate interest and rewards.
Here on Hive blog, part of your blog post earning is being staked on your behalf (you can always choose to unstake) and that is what we know as hive power (hp).
Your hive power which is also your voting is simply the influence you have on the block chain.
Ever heard of 'the whales?'. No, no, I don't mean whales like the fishes in the ocean. Well these ones are the big fishes on hive block chain and their hp made them so. You can liken these people to the major stake holders of this platform.
Yeah. I get it. You've heard hive is a decentralized platform. Hmm. Well....it is and itchisnot! Because people with huge hp are at the helm of affairs here which is good to maintain orderliness.
Oops, I deviated. So yeah, you earn by staking your crypto (hive or any native token like the #leo #loh #pob #palnet) to generate passive income from the reward pool when you upvote. Sorry, I won't go into details of how your investment is used or how the reward pool works. Just know you earn from staking strategically!
DELEGATE
This is yet another passive income means which basically involves 'borrowing' of your hp to another hive account.
Most times this come from a place of support. We see a project on hive that we love, we support by delegating some or all (if you wish) of our hp. You introduce that friend to hive and you want to make it easy for him or her to make comments without the usual newbee hp restrictions? You delegate!
The sweet thing here is when you delegate, the rewards come back from wherever it is used! Talk about what goes around, comes around!. I just love the hive Ecosystem.
AUTO UPVOTE
This one is super cool because I call it the most passive of all the passives!
There are hive users that put me on auto upvote because they love my contents! Likewise myself. I have some of my content creators here on auto upvote such that whenever there is a blog post from them, the algorithm upvotes them on my behalf. So yeah I could be sleeping and upvoting which mean accumulating wealth passively.
You remember the delegating I talked about earlier? It sort of work with the same principle too.
Also you can delegate hp to some hive accounts that curate random quality post and anytime those curators upvote any content your account is listed as one of the upvote.
Did I miss anything out? If you remember any drop it in the comments. Let's share our Hive passive income tips.
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