How to Earn Passive Income with NFTs and DeFi

Making money by staking AIRT with NFTs in BSC and juicy APYs in AirNFTs can be very profitable.

If you’re a cryptocurrency investor, staking is a concept you’ll hear often, but like many crypto concepts, staking can be a complex or simple idea, depending on how many levels of understanding you want to uncover. This guide will cover the basics of staking and how it works as is and how you can start earning crypto.

‍‍What is staking?

Staking is part of the process that some cryptocurrencies use to verify transactions. To explain this well, it is important to have some basic knowledge of blockchain transactions. Proof-of-Work (PoW) and Proof-of-Stake (PoS) are two consensus mechanisms used to validate transactions on a blockchain platform.

‍‍Proof of Stake and Proof of Work

Bitcoin, the first blockchain ever created, uses Proof of Work. Often referred to as “mining,” this consensus uses hardware to provide node validation and create new blocks on the blockchain. Because computers have to do these complex calculations, they cost more because of their high power consumption. Therefore, mining is not a sustainable system and not everyone can be a miner in the network.

Proof of Stake is an alternative to PoW. Instead of mining and much less energy-intensive, validators risk their crypto by using complex algorithms to create new blocks. Platforms like AirNFTs prefer to bet on mining as it is much more environmentally friendly. Proof of Stake is one of the most popular for its efficiency and participants can earn rewards from the crypto they stake.

Staking rewards are an incentive that blockchains offer to participants. Each blockchain has a certain amount of crypto rewards for validating a block of transactions. Every time you place a bet and are selected to verify transactions, you receive crypto rewards.

‍‍What are the benefits of staking crypto?

There are all kinds of benefits to staking cryptocurrencies, let’s look at three:

  • The primary benefit of staking is the potential for high returns (interest rates can be very generous depending on the cryptocurrency you’re betting on). It is a potentially very profitable way to invest your money. And all you need is crypto using the proof-of-stake model.
  • Staking is also a way to support the blockchain of a cryptocurrency you invest in. These cryptocurrencies rely on their stockholders to verify transactions and make everything work.
  • It is more environmentally friendly than crypto mining which makes AirNFTs also environmentally friendly.

‍‍Risks associated with depositing cryptocurrencies

The biggest risk you face with staking is the price drop. Keep that in mind if you find a crypto that offers extremely high wagering rewards.

  • Crypto prices are volatile and can drop quickly. If there is a sharp drop in the price of the assets you pledge, it may outweigh the interest you earn on those assets.
  • Staking may require you to lock your coins for a minimum period of time. During this time, you cannot do anything with the assets you stake, such as selling them,
  • When you want to unlock your cryptocurrency, there may be an unlock time of seven days or longer.

Even though the cryptos you put into the game are still yours, you need to unlock them before you can trade again. It’s important to know if there is a minimum lock period and how long the unlock period is so you don’t run into any unpleasant surprises.

‍‍How to earn crypto with sulu APY

You can earn crypto with high APY by saving, staking or taking advantage of promotional offers.

‍‍What is APY in Crypto?

The Annual Percent Return (APY) acts as a cryptocurrency savings account similar to the Annual Percentage Rate (APR) account. You can deposit your Bitcoin (or other crypto asset) and get a fixed rate of return over a period of time. In other words, APY is a method of calculating the amount of money earned over a year in a money market account. It is a technique used to track the accumulation of interest over time.

The interest you earn on your funds is called compound interest. This is the amount you receive on both the principal (the money you put in your account) and the interest earned. The compound creates money over time, which is why it’s such a powerful investment tool.

‍‍How to Bet on AIRT with Juicy APY?

1. Visit airnfts page and buy AIRT,

2. Go to AirNFTs Staking page,

3. Confirm AIRT,

4. Start staking and earn passive income.

Note: The lock-in period for staking on AirNFTs is one month (30 days). If you want to claim your rewards before this time, you will pay a 10% penalty.

Solution

AirNFTs has entered the DeFi (Decentralized Finance) space to offer its users more choice in the NFT market. This will enable more NFT projects to access customized staking services without having to create their own smart contracts and also generate passive income in BSC through AirNFTs.

Start Earning Now!

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