Hello Everyone! Hope you all are doing great.
Today I will be talking about how I earn just from Staking crypto and it's passive income benefits.
When I first heard and researched about crypto, I was overwhelmed. There were lots of things to understand. But as time went on, I studied it little by little and I reached staking and how it can be used to generate some passive income. The first crypto that I staked was Hive. I was not expecting much from it. But as I stayed consistent and kept staking over time, I saw small rewards starting popping up. Then I got really gassed and happy, and started staking even more.
I started with Hive because the process was really easy. You just select the amount of hive tokens you want to stake and it is done. One of the good things about staking hive is that it is a part of a larger ecosystem. When you stake your hive tokens, you are not only benefiting yourself but you are also helping the whole network. It felt good that my staking was not in vain, they were meant for something. And that something was that I was getting more hive tokens as rewards.
It Became Passive Income !
When I started staking, I noticed that this whole process has turned into a process of Passive Income. Overtime it got better and simpler. Better because the more I staked the more I earned. Simpler because the process was easy, you just needed to keep staking. Now I can earn even when I am asleep. It is like putting your money into a savings account, but the rewards are good.
The main thing here is that it requires patience and consistence. You will not become Bill Gates or Elon Musk overnight. You have to keep staking to see the real results. You cannot expect that, "I will stake once and that is it". It will not get you anything. You have to keep doing it because the rewards grow slowly.
Staking Colony and SPS Tokens
Apart from Hive tokens, I also stake Colony and SPS tokens. They are the base tokens of Stakehouse Den and Splinterlands games. These games are play to earn. They consists of NFT cards, and those cards can be purchased and also sold in the market in return of Colony tokens or SPS tokens.
Just like Hive, you also have to be consistent in these games if you want to earn through them as well. The games are also pretty cool. Stakehouse Den is a gambling kind of game and Splinterlands is a turned based auto battler game in which you collect and trade cards.
Conclusion
In Conclusion, Staking has been a really good addition in my financial life. It works like a earning partner for me because it works itself, I only need to stake. So for those who are new to this, the main thing that they should focus on is patience and consistency. If they do this then they will succeed in it, slowly but surely.
Well, I guess this is it for this post. Please do give your reviews in the comments section below. I would really appreciate it :)
I'll be back with another one soon. So do follow me if you want to stay updated. Till then, Stay Happy and Stay Hydrated.
THUMBNAIL IS EDITED IN CANVA
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Staking HIVE is Probably the most promising and gives you immediate increase in voting power. 💪🏻