Every Bit Helps normally concentrates on creating educational crypto-related review and tutorials. However, after a few requests, we decided to explain how to make money staking and lending crypto to earn a passive income. At the beginning of 2022 we decided to create an update, on the tokens we hold and the platforms we use.
All these platforms have been covered individually in separate reviews and tutorials. However, we thought it might be useful to explain the crypto that we’re staking, our returns, and the platforms that we’re using to earn $15k per month in passive income.
How to Make Money Staking & Lending Crypto?
Before putting your crypto to work, you need to make sure your security is up to scratch. There’s no point in trying to earn interest and staking rewards if you leave your online security is open for exploitation. So, I have put together a few ways you can protect yourself and your crypto.
If you’re serious about crypto and being in control of your assets, a hardware wallet, such as Ledger or Trezor can be a great solution. When you own crypto, what you really own is a private key which you need to keep safe. With hardware wallets, this is stored offline and away from any potential harm with just you in the driver’s seat.
We personally use a combination of both Ledger and Trezor hardware wallets to safely store our crypto. With private keys being split and stored in several locations.
If you’re looking for an extra level of security for your personal accounts and data, YubiKey is a great way of securing your weak points. This small, yet powerful hardware device is like a physical key that, instead of unlocking a door, unlocks your online life.
It can be used as 2-factor authentication for the likes of Google Mail, Binance Exchange, Last Pass, and your Blockchain.com wallet. YubiKey provides an additional element after login with a username and password to verify that it’s you who’s trying to access your online accounts.
To find out more about Yuibikeys by Yubico please check out our guide.
How to Earn Interest Lending & Staking Cryptocurrency?
One way to maximize your crypto returns is by putting your crypto assets to work for you and earning staking rewards (or interest). This isn´t risk-free investing, so please do your own research before you make any investment and seek advice from a financial adviser.
With Celsius, we currently stake;
- Ethereum (ETH)
- Bitcoin (BTC)
- Celsius (CEL)
To get the best rates with Celsius you do need to choose to be paid out in their own CEL tokens, as well as being on their “Platinum Tier”. This is based on the number of CEL tokens you hold. This is something that I previously did chase (to get that extra per cent and be in Platinum) but now I choose to be paid out in the token I’m staking.
However, with Ethereum I get roughly $223 a month at a rate of 5.35% and with CEL $29 dollars at 4.86%.
With some of these platforms, I actually hold 2 accounts between my partner and me to spread some of the risks and sometimes to be able to achieve better rates.
In my second account I have;
- Bitcoin (BTC)
- Polygon (MATIC)
With Bitcoin, I get 3.05% and MATIC is at 8.99%.
Therefore in total on Celsius (across both accounts), I earn about $370 dollars.
Celsius have one of the best sign up offers, giving away $50 as a sign-up offer for new users when using my referral code:
Next up is Blockfi which used to be our biggest holding where we staked Bitcoin & Ethereum. However, after BlockFi reduced its interest rates I moved some of my holdings to higher interest-paying accounts instead.
With BlockFi we now stake;
We get 4.5% APY on Bitcoin, 5% on Ethereum and Uniswap is at 3.25% Which works out to be $225 a month.
BlockFi offers up to a $250 sign up bonus when using my referral code.
With Nexo, I stake the following;
- Ethereum (ETH)
- Nexo (NEXO)
Unlike Celsius and BlockFi you do need to commit to a fixed-term and you’ll need to hold their token and be paid out in it to get the best rates.
I’m currently achieving the highest level, (i.e. Platinum). Therefore am getting the best rates which are 8% on Ethereum and 12% on NEXO tokens and I’m getting $694 a month with Nexo.
Nexo is currently running a limited offer of $25 for new sign-ups.
Blockchain.com isn’t one of the best well-known places for staking but we stake;
- AAVE (AAVE)
- Bitcoin (BTC)
- Ethereum (ETH)
With Aave the rates are 6%, Bitcoin is 4% and Etheruem 4.2%. Which earns me $362 per month with blockchain.com
Unfortunately, Blockchain doesn’t have any sign up offers available.
YIELD App is another platform that is similar to the likes of BlockFi, Nexo and Celsius.
I’m currently staking;
- Etherem (ETH)
- Yield (YLD)
Again, to get the best rates with YIELD you will need to hold their own YLD token, and I’ve got a full tutorial for Yield App available.
I have some crypto staking on the Kraken Exchange where I stake;
- Polkadot (DOT)
- Ethereum (ETH)
We stake these are rates of 12% for DOT tokens and the Ethereum is changeable (and does fluctuate) but is currently sitting at around 4%.
It’s not recommended to keep crypto on an exchange, but I only really stake with exchanges that I trust.
Staking with Kraken (in total) gives me $442 a month across the 2 tokens.
With the FTX App you can get 8% on any deposits up to a value of 10k dollars. And we stake some of our;
- Decentraland (MANA)
- Forchain (RUNE)
- Chainlink (LINK)
- Basic Attention Token (BAT)
On the FTX App, we have a total of $238 dollars a month and again we split this across 2 accounts to get the best rates.
You can also get a free token with every trade on the FTX App by using code: 9202836.
With the FTX Exchange, we stake their own FTT token, which doesn’t get you any money (or returns) but by staking them you do get free withdrawals from the platform which is a great money saver. I also stake SRM on the exchange too which provides a rate of 4% APY which gives me $13 a month.
New users of FTX can get 5% off their trading fees by clicking here.
I also have various tokens staking on the Binance Earn platform earning $458 a month.
Binance Earn sometimes has special or limited offers available with high APYs so it’s worth periodically checking the site and the rates there or on our Defi Rates page.
We stake Binance’s BNB token in Binance’s official ‘Trust wallet’. Depending on the validator you choose these rates will vary, but at the moment I get around 24% and earn roughly $790 per month.
Another Wallet I use for staking is the Exodus Wallet. This is a really simple way to stake your tokens.
Where we get rates of 4.91% for ADA, 4.67% for ALGO, Cosmos at 19% APY and ONT at 16%.
Next is one of my best investments of 2021, which is LUNA. I’m currently staking my LUNA tokens with Terrastation at a rate of 10.88%. However, again these rates will fluctuate depending on the validator you choose.
I’m currently getting $732 a month for my staked LUNA tokens.
If you’re holding stablecoins then Anchor Protocol offer around 20% on your tokens.I have some UST and their own governance token ANC staking on the platform.
With Anchor, I get 19.52% for UST and 13% for my ANC tokens bringing me a yield of $160 a month.
Axie Infinity is another that I used to stake on an exchange however I have now moved this across and now use the Ronin Wallet with my Trezor hardware wallet which again I’ve created a tutorial for if you’re not too sure how to use it or get started.
Axie infinity has been a big winner for me this year, as I was fortunate enough to get into Axie very early. I’m currently staking my AXS tokens at a massive 114% therefore I’m currently getting $5,160 a month with this which is huge. You can also stake these tokens on Binance where you can also get 100%.
Olympus OHM token is a token that I’m staking in the Olympus DAO which is decentralized and running on the Ethereum network which means that the gas fees will eat into your profits. But there are other options available outside of Etheruem.
But with Olympus, I’m currently getting 7280% which works out roughly around 6% over 5 days. So at the moment, we are getting around 1,770 dollars per month which is crazy.
Now, these tokens are both relatively new and do come at their own risks so make sure you tread with caution, also these rates will reduce over time as more and more people stake. The amount that I actually hold now, isn’t the amount I staked initially so I will be withdrawing my initial investment and just earning from my interest.
Klima is a carbon-backed currency that aims to drive climate action and is a fork of the Olympus DAO and Holders of KLIMA can earn compounding interest tokens by staking.
However, the difference with Klima is that it runs on Polygon, therefore the fees are minimal. But you’ll still get massive rates showing as 40,076.09% and that works out at 8.56% over a 5 day period.
In total, staking with Klima earns me $2,766 a month!
Then we have another fork of Olympus, which is Wonderland. Wonderland runs on the Avalanche network, therefore there are minimal fees. This is one of my newest investments.
With Wonderland you can get 85,229% APY with a 5-day rate of 9.6%. Which gives us about $580 a month.
Please note, these investments are high risk and for that reason, these are less than 1% of our portfolio.
On the Aave Protocol, I stake their own AAVE tokens at a rate of 6.33% APY.
SNX hasn’t been a great investment for us as the token hasn’t raised significantly in value compared to some of our other investments.
However, we stake our SNX tokens with the Synthetix platform at a rate of 31.03%. Earning us $98 a month.
Then finally there’s Crypto.com where I stake their own CRO tokens for the Crypto.com card that I use every day.
Plus they run Supercharger events for various coins which I know can be popular with my audience. To find out more information about Supercharger, you can check out our Supercharger review.