How To Start Generating Passive Income With Cryptocurrency? Staking Cardano (ADA) And By Simply Holding Gnox Token (GNOX)

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Investing in fundamentally sound projects is one way to make money in the crypto market. However, with thousands of projects flooding the space every day, it takes a lot of research to thread the needle. Even then, there is no guarantee of long-term appreciation.

One of the best ways to survive the crypto winter is to have a passive source of income, which is now possible with the introduction of decentralized finance. It’s easy to set up and requires little effort to maintain a growing portfolio. Below are two easy ways to see your money compounding over time.

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ADA Staking (Cardano)

With a proof-of-stake mechanism, Cardano is the ultimate choice when it comes to putting extra cash in your pocket. You can either bet ADA by starting your own betting pool or delegate it to a reputable pool. The first option is more rewarding, but you need to invest in acquiring technical knowledge and maintaining a reliable server. If it’s not in your wheelhouse, you can still earn some nice passive income by delegating your ADA to existing pools.

Yoroi and Daedalus are two popular Cardano wallets that allow users to stake ADA, with a typical payout between 3-6%. For investors with limited technical wallet know-how, they can simply stake ADA on crypto exchanges like Binance and Gemini. With over 70% of the supply in play, Cardano is one of the most reliable revenue generators in the crypto-verse.

Hold a Gnox token (GNOX)

In an effort to drive greater adoption, Gnox simplifies DeFi earnings even for a layman. Anyone can buy and hold GNOX to earn consistent passive rewards distributed by the protocol. There is no need to set up wallets or delegate your holdings to a validator. The Gnoxian ecosystem operates on the reflection model where cash funds are invested in pools of liquidity and the proceeds of these investments are shared with GNOX token holders.

In addition to DeFi rewards, holders also receive 1% of the tax applied to each transaction. The rewards increase in proportion to the number of tokens in eligible wallets, and they will continue to appreciate with increasing cash strength. Long-term holders can greatly benefit from this new standard in tokenomics that provides yield farming as a safe service with guaranteed returns.

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How To Start Generating Passive Income With Cryptocurrency? Staking Cardano (ADA) And By Simply Holding Gnox Token (GNOX)


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