Hive is a decentralized social media platform that is powered by the blockchain and rewards users with cryptocurrency, but did you also know that Hive has some great DeFi tools that can help you earn passive cryptocurrency income? In today’s post, I’ll share three ways that you can earn passive cryptocurrency income from Hive including
Lending the HBD stablecoin at 10% APR
Delegating your Hive Power at up to 16% APR
Voting for “witnesses” and block producers on the Hive blockchain
Timestamps
00:00 Introduction
01:30 HBD Stablecoin Lending
04:30 Hive Power Delegation
09:30 Voting For Witnesses
10:00 Proxy Voting
I think there's maybe a difference between the witness situation on hive and wax. I'm not very familiar with Wax.
As far as I know voting for witnesses on Hive has nothing to do with earning passive income. The witnesses move up the table of earnings depending upon how many votes they get but voters don't get any rewards.
The proxy simply means that you will vote for the same witnesses as your proxy. So, in your case, by choosing @theycallmedan you will be voting for the same witnesses he does.
Hopefully someone will jump in and correct me if I'm wrong.
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Thank you for that comment. I really tried to do my best on the witnesses, but it was a bit hard for me and I couldn't really find a whole lot of information. I'm hoping that someone else can chime in on the witnesses also.
Very helpfull, thanks