Anaisomari
Thursday, February 9, 2023
Ledger - Crypto Beginners Pack
  • Crypto News
  • Bitcoin
  • Ethereum
  • NFT
  • DeFi
  • Blockchain
  • Metaverse
  • Altcoin
    • Tether
    • Solana
    • Binance Coin
    • Dogecoin
    • Polkadot
    • Terra
    • Cardano
    • Safemoon
    • Avalanche
    • Chainlink
    • Shiba Inu
    • Litecoin
    • Bitcoin Cash
  • Live Rates
  • Shop
No Result
View All Result
  • Crypto News
  • Bitcoin
  • Ethereum
  • NFT
  • DeFi
  • Blockchain
  • Metaverse
  • Altcoin
    • Tether
    • Solana
    • Binance Coin
    • Dogecoin
    • Polkadot
    • Terra
    • Cardano
    • Safemoon
    • Avalanche
    • Chainlink
    • Shiba Inu
    • Litecoin
    • Bitcoin Cash
  • Live Rates
  • Shop
No Result
View All Result
Anaisomari
No Result
View All Result

Here’s the Surprising Amount of Passive Income You Can Make Staking Cardano

June 4, 2022
in Cardano
0

Making money with Cardano (ADA 2.24%) hasn’t been in the cards for many investors so far in 2022. The popular cryptocurrency is down close to 60% year to date.

However, some investors have been able to cushion their losses with the digital token. They’ve been able to do so by staking their coins. Here’s the surprising amount of passive income you can make staking Cardano.

Image source: Getty Images.

Stake and rake

The process to generate passive income with Cardano is straightforward. You simply stake your coins. Then you rake in the rewards from doing so. And those rewards can be quite appealing.

Several cryptocurrency exchanges support staking Cardano tokens. The best annual yield that I’ve found was on Binance. This popular crypto exchange offers an estimated annual percentage yield (APY) of 11.23%. To get this APY, you’ll have to stake your coins for 90 days.

What if you don’t want to lock up your Cardano tokens for that long? No problem. Binance also has shorter staking periods. For example, the exchange offers an APY of 8.24% if you stake Cardano for 60 days. The yield isn’t too much lower — 7.75% — for staking 30 days. 

You can earn lower rates with other crypto exchanges. For example, Nexo states that investors can make up to 8% annually staking Cardano. Kraken offers annual yields of between 4% and 6%. 

Risks

Pretty much everything comes with some level of risk. Staking Cardano is no exception.

The main downside to staking your Cardano tokens is that most crypto exchanges will require to you lock up your coins for a specified period. During that time, you won’t be able to sell the tokens.

And the amount of time that you’re restricted from selling can be longer than you might think. Some exchanges can take a few days to “unstake” your coins, effectively extending the lockup period.

There’s an obvious potential problem with this limitation. You could easily lose more than you make in staking yields if Cardano’s price plunges. As a case in point, the cryptocurrency’s decline in recent weeks far exceeded the highest amount you could’ve made over the entire year from staking your Cardano tokens.

You don’t necessarily have to lock up your tokens, though. Binance and some other exchanges offer flexible staking for the cryptocurrency with no lockup period. However, you’ll have a major trade-off to make with this approach with a much lower yield. Binance, for example, only offers an estimated APY of 1% with its no-lockup option.

An attractive alternative — for some

Because of these risks, many investors will be better off not staking Cardano. By the same token (no pun intended), risk-averse investors will also want to avoid buying Cardano and most cryptocurrencies altogether.

But there are some investors who aren’t afraid to take on the risks associated with investing in cryptocurrency. If you think that Cardano is destined to increase in value over the long term (or even merely hold its own), staking could be an attractive alternative to generate passive income.

There are reasons to be optimistic about Cardano’s long-term prospects. Some especially bullish investors even think that it could become bigger than Ethereum thanks to its impressive scalability and an increasing number of real-world use cases. Investors with a buy-and-hold mindset for Cardano have an opportunity to boost total returns by staking the token. 



This news is republished from another source.


Previous Post

SafeMoon, Litecoin & Bitcoin – American Wrap 16 February

Next Post

Terra (LUNA) Up 0.5% Saturday: What’s Next?

Next Post

Terra (LUNA) Up 0.5% Saturday: What's Next?


Name Price
bitcoin
Bitcoin (BTC)
$22,902.00
ethereum
Ethereum (ETH)
$1,645.13
USDEX
USDEX (USDEX)
$1.08
tether
Tether (USDT)
$1.00
binancecoin
BNB (BNB)
$325.71
usd-coin
USD Coin (USDC)
$1.00
ripple
XRP (XRP)
$0.396654
binance-usd
Binance USD (BUSD)
$1.00
cardano
Cardano (ADA)
$0.390398
dogecoin
Dogecoin (DOGE)
$0.089792


Crypto News

Payments Company Affirm Is Shutting Down Its Crypto Business – CoinDesk

February 8, 2023

Ethereum staking versus Bitcoin: Here's what you need to know – Proactive Investors UK

February 8, 2023

Cryptocurrency prices today: Rates of Bitcoin, Ethereum, Shiba Inu … – NewsBytes

February 8, 2023

Bitcoin

Bitcoin Nears the Vaunted 'Golden Cross' | Video – CoinDesk

February 8, 2023

No Result
View All Result

Pages

  • Latest Crypto News
  • Live Rates
  • Privacy Policy
  • Shop
  • Terms of Service

Tether

This February, Tether and VeChain Cryptos Are Looking To … – Deccan Herald

February 8, 2023

Solana

Brave Adds Support For Solana on iOS and Android – Decrypt

February 9, 2023

Brave Collaborates With Solana To Add Support For DApp On Mobile – Bitcoinist

February 8, 2023

Advertisement

  • Latest Crypto News
  • Shop
  • Privacy Policy
  • Terms of Service

© 2022 Anaisomari.com


No Result
View All Result
  • Crypto News
  • Bitcoin
  • Ethereum
  • NFT
  • DeFi
  • Blockchain
  • Metaverse
  • Altcoin
    • Tether
    • Solana
    • Binance Coin
    • Dogecoin
    • Polkadot
    • Terra
    • Cardano
    • Safemoon
    • Avalanche
    • Chainlink
    • Shiba Inu
    • Litecoin
    • Bitcoin Cash
  • Live Rates
  • Shop

© 2022 Anaisomari.com


  • bitcoinBitcoin(BTC)$22,902.00-1.72%
  • ethereumEthereum(ETH)$1,645.13-2.14%
  • USDEXUSDEX(USDEX)$1.080.27%
  • tetherTether(USDT)$1.00-0.07%
  • binancecoinBNB(BNB)$325.71-1.98%
  • usd-coinUSD Coin(USDC)$1.00-0.02%
  • rippleXRP(XRP)$0.396654-1.24%
  • binance-usdBinance USD(BUSD)$1.00-0.14%
  • cardanoCardano(ADA)$0.390398-2.25%
  • dogecoinDogecoin(DOGE)$0.089792-3.23%
  • matic-networkPolygon(MATIC)$1.280.41%
  • okbOKB(OKB)$44.77-2.62%
  • solanaSolana(SOL)$22.92-4.33%
  • staked-etherLido Staked Ether(STETH)$1,642.68-2.22%
  • polkadotPolkadot(DOT)$6.74-3.29%
  • shiba-inuShiba Inu(SHIB)$0.000013-6.57%
  • litecoinLitecoin(LTC)$98.42-2.71%
  • avalanche-2Avalanche(AVAX)$19.97-4.02%
  • tronTRON(TRX)$0.0666030.67%
  • uniswapUniswap(UNI)$6.76-3.28%
  • daiDai(DAI)$1.00-0.07%
  • cosmosCosmos Hub(ATOM)$15.090.05%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,904.00-1.52%
  • chainlinkChainlink(LINK)$7.18-0.38%
  • ToncoinToncoin(TON)$2.29-3.56%
  • ethereum-classicEthereum Classic(ETC)$22.55-2.64%
  • leo-tokenLEO Token(LEO)$3.35-0.35%
  • moneroMonero(XMR)$166.85-0.68%
  • bitcoin-cashBitcoin Cash(BCH)$131.14-3.31%
  • AptosAptos(APT)$14.65-9.81%
  • stellarStellar(XLM)$0.090552-1.79%
  • lido-daoLido DAO(LDO)$2.827.43%
  • nearNEAR Protocol(NEAR)$2.583.62%
  • crypto-com-chainCronos(CRO)$0.083095-0.88%
  • apecoinApeCoin(APE)$5.69-5.66%
  • filecoinFilecoin(FIL)$5.37-3.71%
  • algorandAlgorand(ALGO)$0.2821290.46%
  • quant-networkQuant(QNT)$138.65-2.19%
  • hedera-hashgraphHedera(HBAR)$0.074036-0.18%
  • vechainVeChain(VET)$0.025639-3.79%
  • internet-computerInternet Computer(ICP)$5.66-3.72%
  • the-graphThe Graph(GRT)$0.178588-10.13%
  • the-sandboxThe Sandbox(SAND)$0.83-7.56%
  • fantomFantom(FTM)$0.51-12.67%
  • axie-infinityAxie Infinity(AXS)$11.921.57%
  • decentralandDecentraland(MANA)$0.75-6.54%
  • aaveAave(AAVE)$86.14-2.82%
  • eosEOS(EOS)$1.08-3.53%
  • flowFlow(FLOW)$1.11-7.67%
  • elrond-erd-2MultiversX(EGLD)$45.89-4.63%