Last week I made a post about how I have these dreams of earning around 100 HIVE per day from my efforts here on the blockchain!
I highlighted a few of the tools at our disposal that can help us earn a passive income on HIVE. The best part is that anyone can use these tools and strategies...
Today I wanted to go over them in more detail especially with all the new members that have joined the blockchain over the past week. I hope it's useful :)
First up, I'll highlight the 'Active' efforts we can do...
Active Efforts For Income On HIVE
Content Creation
I'll never understand why people hate branding HIVE as a social media blockchain. I think that's our greatest strength. Here's why, this can be the first 'toe dip' a new person to crypto can have. And they are comfortable in social media platforms. They understand it, they have experience with them and they can figure out pretty quickly, the upvoting, commenting and......Creating content!
Depending on how many upvotes you get and what they are worth, you can earn a decent amount of HIVE everyday by creating fun and engaging content. And it gets even better...Thanks to applications like @PeakD you can also add potential 'tips' to your posts as well.
How much you'll earn and if it's steady or not depends on many factors including your effort! But it's still the best way to earn more HIVE!
Curation
Sure, you can set up curation trails and use tools like Hive.Vote to automate this, but I've only started to use these kind of services. For me, curation was always a hands on activity here. I have certain Hive members I really enjoy curating and always appreciate the hard work they put into their content.
The curation 'levels' depends on something super scientific called the rewards curve. Depending on when you 'upvote' something and how much the post ends up earning will determine your curation rewards. It's all pretty complicated so for me I keep these tips handy when it comes to curation...
- Upvote the content you enjoy the most!
- Upvote it around 4-5 minutes for maximum 'potential' rewards.
- Don't worry too much about mastering curation for profit until you poke around more. For me, it's all about the content and if I enjoy it!
Passive Income On HIVE
And now comes the fun part....Sure, content creation and curation can earn you the most. But it does take more effort then the few strategies I'll outline below...
This is what sets HIVE apart from all other blockchains!
Staking (Powering Up)
This is the most beautiful part of HIVE! We are actually paid, to hold and stake our HIVE tokens. In 2019, 1 HIVE powered up gave you a 8.59% return. However the way the blockchain is set up, this goes down 0.01% every 250,000 blocks. Still, we're able to invest our HIVE and earn literally by sitting on it...How cool is that?
And remember, the more Hive you have powered up, the more you can earn on curation as well as being able to give out more rewards to the community in the form of an upvote. Powering up is a no brainer and it's why I'm doing everything I can to stake as much HIVE as I can long term....
But it gets even better!
Delegation
Some people love delegation, others aren't a fan of it. But it's a tool of the blockchain that can put passive income into your pocket. Basically you take the staked HIVE you have in your account and 'lend' it to a HIVE member or project on the blockchain. They can then give you a return from the delegation you provided them.
Businesses and different tools have been using this for about 2 years now and it allows for so much! I can't speak for every delegation project out there, but I am supporting 3 of them right now...
@Curangel
Which pays me about 0.129 HIVE per day. Without me doing a thing! I have delegated 500 HIVE Power to this project.
@Qurator
The first project I ever delegated to way back when I joined in 2017. I have delegated them 500 HP and I earn about 0.147 HIVE a day from them.
@ThisIsAwesome
A community based project that supports my tribe @ClickTrackProfit . The owner @flaxz is an awesome guy and really does a great job of highlighting members of the community. This fluctuates but I get roughly 0.500 HIVE daily and he pays every week. I did delegate 2000 HP to this project as well.
DLease
Similar to delegation but more secure in my opinion if you are looking for a return. This little project is a GEM and you are looking at returns in the 11-15% APR range.
You set up mini-contracts with people looking to lease Hive Power from you. You can pick and choose which HIVE member or project to support from their market and then lease them the Hive Power. That's it! Everything else is done by @Dlease and their system.
You can choose the term, what kind of APR you want and who to lease to...I have chosen a few HIVE members that I have talked to or worked with, and supported them with a decent amount of Hive Power (Over 10,000 leased for up to 5 months). And for that, I'm getting an average return of 13.84%
I have just begun my 'passive income strategy' with @Dlease over the past 2 weeks but so far, I"m in love with it! 4.168 HIVE a day...Automatically!
So in conclusion....
HIVE is..Pretty much the best thing since sliced bread! And while not financial advice, this is just how I'm using the blockchain to maximize my returns. A few notes:
- You should never spend a dime you cannot afford to lose. This goes without saying!
- When you delegate, or use Dlease remember...Your funds are 100% safe because you are never giving away your HP. You control it all the time. And if anything goes sideways, can always remove the delegation and presto, it's back in your account within a few days.
- You can learn by simply asking questions & observing how others use the blockchain. The best part about HIVE is that you ar rewarded for showing up and adding value to the blockchain!
- For extra protection, I use the HIVE Keychain for all transactions on the blockchain.
The best part is this...
When you combine your 'active' efforts with the passive tools on the blockchain, you can see how this can start to add up.
I hope this post helps you become more familiar with the simple and easy to use tools available for you, right now on the HIVE blockchain...
Learn how to make extra crypto, just by doing things...You are already doing!