Every Bit Helps normally concentrates on creating educational crypto-related reviews 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.
Before putting your crypto to work, you must ensure 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 potential harm with you in the driver’s seat.
We personally use a combination of both Ledger and Trezor hardware wallets to store our crypto safely. 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 logging in with a username and password to verify that you are 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 Nexo, I stake the following;
- Ethereum (ETH)
- Nexo (NEXO)
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.
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 Ethereum 4.2%.
Unfortunately, Blockchain doesn’t have any signup offers available.
YIELD App is another platform that is similar to Nexo.
I’m currently staking;
- Ethereum (ETH)
- Yield (YLD)
Again, to get the best rates with YIELD, you will need to hold its 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 Ethereum is changeable (and does fluctuate) but is currently sitting at around 4%.
Keeping crypto on an exchange is not recommended, but I only really stake with exchanges that I trust.
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.
New users can now get an exclusive $50 in cashback vouchers when using my link.
We stake Binance’s BNB token in Binance’s official ‘Trust wallet’. Depending on the validator you choose, these rates will vary.
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%.
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.
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%.
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. You can check out our Supercharger review to find out more information about Supercharger.
Crypto.com do have a couple of different sign-up offers for both their exchange and app.
Your credibility for talking about finance matters could be helped here I think by making clear the principal you have invested to achieve the $15000 per month return. It would also be good if you could comment on how that return is changing or has changed over time for the various investments.
I do realise that the principal could be back calculated quite easily since you give the monthly returns and APRs/APYs. And I do take on board that you make clear that rates of return are of course higher on riskier tokens and will descrease as a token attracts investment.
My point is really that the headlines and overall take (not giving prominence to the principal invested) makes you look more like a get rich quick video/site than I think you really are or would like to be perceived.
Only just discovered your channel and some of this may be unfair, but is intended to be constructive. Thanks.
Thank you for your comment Stuart, but we are not looking to gain credibility, we show some of the rates that can you can get by staking or lending your crypto. We would prefer to have some privacy over showing our full financial situation.