In this article we will show you some methods to generate new incomes with cryptocurrencies.

Part 1

  • Staking
  • Airdrops

Part 2

  • Lending
  • Content Creation
  • Running a Lightning Network

Diversifying your investment practices is a good approach to reducing risk and increasing your cryptocurrency funds.

 

Staking

Staking is essentially about actively contributing to the security and operations of a given blockchain by blocking a certain amount of cryptocurrency to receive a reward.

Here are some cryptos that allow staking as they are based on the Stake consensus mechanism (PoS): Stellar (XLM), Algorand (ALGO), NEO (GAS), Ontology (NGO), VeChain (VTHO), Tron (BTT), Komodo (KMD), Stratis (STRAT) and Qtum (QTUM).

Generally, users with larger amounts of staked coins are more likely to be chosen as validators for the next block, this way they earn more faster.

Staking can be a good way to increase the funds in your crypto Wallet with a minimum commitment.

All you need to do is keep your tokens on the exchange (without transferring or converting them) and the platform will take care of all the technical aspects that will lead those cryptocurrencies to generate interest for you.

 

Airdrops

In the cryptocurrency and blockchain world, the term “Airdrop” refers to the free distribution of digital currencies to the public.

Many projects, in fact, to launch their cryptocurrency, donate a small amount of it to their users to create a community around their products and a market for their crypto.

Stellar (XLM), Bitcoin Cash (BCH) and Decred (DCR) are some of the most successful and largest airdrops.

Our own app, Stepdrop, is named after this concept. For us at Young, every step of your day has value. In fact, you just need to open the app and record your steps to get YNG, our cryptocurrency, and use it to invest in crypto on the Young Platform exchange.

 

Sources:

Cfr. D. Laufenberg, L. Li, H. Shahriar e M. Han, Developing a Blockchain-Enabled Collaborative Intrusion Detection System: An Exploratory Study, in Advances in Information and Communication, Proceedings of the 2020 Future of Information and Communication Conference (FICC), a cura di K. Arai, S. Kapoor e R. Bhatia, I, 2020, p. 174; W. Y. M. M. Thin, N. Dong, G. Bai e J. S. Dong, Formal Analysis of a Proof-of-Stake Blockchain, in ICECCS, 2018. Sul diverso concetto di “proof of work” sia consentito rinviare, ex multis, allo studio di C. Catalini, J. Gans, Some Simple Economics of the Blockchain, in NBER working papers, 2019, A-2.