While all crypto markets are in the red, the general state of “fear” of investors continues. While all these negative processes are going on, investors are still hesitating about which altcoins they should keep and which ones they should dispose of.
Chris, host of Cheeky Crypto, a cryptocurrency-themed YouTube channel, shared the top five altcoins to stake and some investment strategies for those who want to earn more passive income.
Investment Strategies
CryptocurrencyThere are many different strategies that can be used by those who want to maximize their earnings. However, the server’s first recommendation was to “keep crypto assets”.
This investment strategy basically represents you holding the asset without selling it with the idea that you are buying it for long-term investment. This is also known as a proven method throughout the history of this particular market. If you bought at the top in the previous bull run, you’re actually making a huge profit. So it’s actually a better strategy than trading because 90% of traders fail over a period of time.
Yield Farming and Staking
This strategy really maximizes your portfolio growth because if you’re only building a position and altcoin stake if you do. You get about 10% to 13% APY. This creates a great opportunity to generate passive income.
Dollar-Cost Average
Another strategy that can be preferred by those who want to earn passive income is to realize the dollar cost average. A smart way to invest in cryptocurrencies is not to worry about short-term volatility. If you are free of these worries, you will reduce “fear sales”.
Best Staking Altcoins
Harmony (ONE)The Harmony blockchain, designed to facilitate the creation and use of DApps, has been a hot topic lately. The network aims to renew the way decentralized applications work by focusing on random state sharing that allows for block generation in seconds.
It stands out as a great opportunity when it rewards 9.51% APY for staking ONE.
Cardano (ADA) is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring positive global change.
It’s worth the risk as there is no lock period in Cardano. ADA with 4.6% of the award. This is a very safe way to earn a passive income.
Also, Chris mentioned Vechain (VET), Polygon (MATIC) and PolySwarm (NCT) as the top altcoins in his portfolio with the potential to hold and staking to generate more passive income. However, these altcoins should not be considered financial advice. Investors should do their own research to make the best investment decision.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.