Many of us think that the only opportunity to Earn on Hive is by making quality posts, and that's all.
Well.... Certainly, you can earn from that your Quality and amazing content/post. But, Naaaa! That's not all there is on Hive.
You've only scratched the surface and you're satisfied with the crumbs when you can easily dig out the diamond. - Ksam
A dig dive into the Hive Ecosystem or Hive Blockchain will reveal so many possible ways you can earn, which we can call our
"STREAMSSSSSSS of INCOME"
When you make this dive, you'll discover that the ten (10) ways I'll mention in this post are just the basic ways that Newbies can also get involved with.
In the video above, I discussed these 10 ways to Earn on Hive extensively and I gave relevant/practical examples. However, this post will offer the summary of what I discussed in the video above (with additional points).
The Ten ways I mentioned are:
- Creating Quality Contents (author's reward)
- Making Quality Comments
- Participating in Community Contests
- Voting (Curation) Reward
- Tribal Tokens (author and curation rewards)
- Annual Percentage Rate (APR) on Hive Power (HP) and Hive Backed Dollar (HBD) Savings
- Liquidity Pool (LP)
- Hive Power (HP) Delegation
- Airdrops on Hive
- Hive Blockchain Games
1. CREATING QUALITY CONTENT (AUTHOR'S REWARD)
Hive supports and encourages authors as it hosts a platform where authors can earn from their ORIGINAL and PLAGIARISM-FREE CONTENTS.
However, aside creating contents and just "dumping them", do well to engage your audience and other authors; put differently, respond to people's comments on your posts and drop amazing comments on their posts.
2. MAKING QUALITY COMMENTS
While making quality comment helps you build relationships or bond with other authors, it can also fetch you few bucks, which if you accumulate can be "something hoooge" (huge) 😉
3. PARTICIPATING IN COMMUNITY CONTESTS
This is also a great way of earning, where you can earn Hive, HBD or Tribal Tokens.
Many communities host Contests daily, weekly, monthly and quarterly, among others. So, as a member of a community, try to be updated with the Contests and activities of the community. All you need to do is to follow the Rules of the Contest....
READ THE RULES, DIGEST IT AND FOLLOW IT CAREFULLY.
The truth is that many people join new communities through these Contests. So don't be afraid to explore other Contests and join other communities where you can actively participate and engage in.
4. VOTING (CURATION) REWARD
Did you know that when you vote contents you also earn from it?
Wait a second 🤔
When you receive upvotes from people, they aren't dashing you Money, you know right? Instead they earn when they do so, you know this right?
Or don't you? 🥺
If you don't, maybe you can understand it a little with this example:
Let's say we all invested in a business with different amounts: some invested with $5 and above, others with $100 and above, and few individuals with $100,000,000.
In this business, one of the benefits is that there is a share of $500 available daily where all the investors can share and benefit from. However, the rules are:
- Rule 1: Your investment amount determines your share of the $500 (which means, someone with $5 worth of investment may get only 0.001 share, while someone who has $100,000,000 worth of this investment may get up to $100)
- Rule 2: You cannot receive your share directly, you can only receive half of it when you give it to someone (for instance: you give the person the whole $100... but when it is time to put receive the money in the account, the money will be shared by you two: he or she takes 50% while you take the other 50%)
Okay let me break down this simple story:
The investment is the HP (Hive Power) and your amount of HP determines your voting mana. This voting mana is the share of investment meant for us, however we cannot receive it directly. We must vote others and then we can get at most, 50% of our $ votes.
That's why we need to accumulate more HP so that you can earn more when we vote a Content.
However, to safeguard the Blockchain and make wise voting choices, only quality and original contents are worthy of these votes. Plagiarised contents and their authors get punished by the Hive Watchers 👁 be careful... don't let that eye Visit You 🤫
PS: 😔😔😔 I wish I had more HP to curate quality contents and support zealous and hardworking Newbies 😔😔😔
5. TRIBAL TOKENS (AUTHOR AND CURATION REWARDS)
These tokens are used as rewards in communities. This usually goes alongside with use of tags. The right content with the appropriate use of tags can fetch you some Tokens (aside Hive Votes). These tokens can be traded at the Hive Engine.
Some of these tokens can be staked or powered up and when you power them up, you can earn curation reward.
For example, if you have a staked $LEO and you vote a post that has a #Leofinance tag, when you vote the post, automatically you vote with your HP voting Mana and Leo voting mana (together with other Tribe Tokens voting mana, if their tags were used). So which means as you get Hive curation reward, you will also get Leo curation reward (one-up curation reward, etc). The same happens with all staked layer 2 Tokens on Hive.
Power them up and accumulate more 😉
If you want to withdraw, it will take 4 weeks unlike HP that takes 13 weeks.
You can also delegate your Tribe Tokens also, and win tribe Tokens in contests.
(O boy! We just mentioned about 4 different ways in just one way)
6. ANNUAL PERCENTAGE RATE (APR)
The details in these images can be found in your Hive Wallet. So go check it up yourself 😉
By Annual Percentage Rate, we simply mean Interest accrued in a year (however, we receive them monthly).
Hive gives you Percentage interest for Investing or Staking Hive (HP) and for Saving with HBD.
Can you see that?
20% Interest for HBD Savings.
You can utilise them well, you know 😉
7. LIQUIDITY POOL
This may be a bit technical, but I will try to simplify it so that you can understand better. If you understand it then you can see the endless possibilities in it.
To convert BEE coin to Hive coin, it means that Hive coins should be available in the Pool to give to the person who needs BEE, in exchange for his or her BEE coin.
Hence what you do in Liquidity Pool is that you make your coins available for this transaction/conversion.
You are neither selling nor giving it out, rather you just make it available. And for doing so, you will be given rewards in Hive coins or other Tribe Tokens, depending on the Pair you wish to add Liquidity on.
When you log on to beeswap.dcity.io/convert you will see the available pairs.
To do this, you should have both pairs, even if they are 0.051 Hive and 0.1 BEE. However, your reward will be little.
8. HIVE POWER (HP) DELEGATION
Like I said earlier, the more HP you have the higher your voting Power. With the voting power you can reward quality posts and earn from the reward as well.
However, if you feel you don't have time to move around to curate quality contents, you can delegate the HP to someone or a project (or a Community's official account) to do this in order to support these authors.
While some delegations may come as an act of charity (where you may not gain from them), there are others where you get your 50% curation rewards in Hive coins. Hence, by supporting your favourite project, you also earn from it.
9. AIRDROPS ON HIVE
Airdrops (on Hive) are reward we get for Investing in a project on Hive or just owning a Hive account.
Some of these are Tokens given to all Hive holders for the sake of promoting or advertising their tokens, some are Tokens given to holders of Hive based on their staked (HP) and some are given to those who invested in various projects on Hive.
For instance the #Larynx token which many of us claim every month was given to those who created their Hive account prior to when the Snapshot was taken (Last Quarter of 2021). The amount earned also depends on the HP holdings when the Snapshot was taken.
SPS has its own and Leofinance as well (Staking and Farming Cub is also something worth learning).
10. Blockchain Games on Hive
If you've been following my posts, I've done various tutorials on Blockchain Game. You can begin with this post on Blockchain Games - Newbies Tutorial to have a good foundation and understanding of blockchain games.
However, by way of summary, with blockchain games:
☆ You play a Game for fun;
☆ You Earn Cryptocurrency (in-game currency) in the game;
☆ You Earn NFTs in the game; and
☆ You also Trade in the game (trade your crypto coins and sell NFTs at the Market place).
Oh! Before I forget, Hive is a Cryptocurrency, which means the value is volatile (it can increase/decrease in value at a rapid rate). So when you accumulate more Hive now that Hive is low, as the Value of Hive increases your savings and worth in $ also increases.
SO, HODL HIVE 😉
And remember, these are just the basic knowledge oooo!
There are endless possibilities to earn on Hive.
And by the way, this is my 100th Video on 3speaks 😁
- All designs were made by me using Canva Mobile Application and PowerDirector.
- All screenshots were taken with my phone and of my wallet account on Hive and Beeswap.
Have you read these posts by me?
I AM KSAM
I may not be your favourite author, but you can journey with me to help me develop my "penmanship" skills. I am always open to criticism, correction and learning 🥰.