The entire market is back in red and there is a lot of fear in the space. Traders are still wondering, which altcoins to hold and which to eliminate from their portfolio.
Chris, the host of Cheeky Crypto, a Youtube Channel that focused on cryptocurrency, has highlighted the top 5 altcoins that are best for staking to earn more passive income and some investing strategies that can be used during this crash.
Investing Strategies
Hold Crypto
There are various different strategies that you can utilize to you know to maximize your gains in the crypto space. But the first strategy Chris mentioned was to hold crypto.
This method basically means you buy and hold for the long-term investment. This has been a proven method throughout the history of this particular market. If you bought in right at the very top back in the previous bull run, you would actually be in profit massively. So it’s actually a better strategy than trading because there’s 90% of traders are unsuccessful over a period of time.
Yield Farming And Staking
This strategy really does maximize your portfolio growth because if you’re just building up a position, and you’re staking the altcoin. You’re getting about 10% to 13% APY. This is a fantastic opportunity to earn passive income
Dollar-Cost Averaging
The next strategy to earn more passive income is to notice at dollar-cost averaging. It’s a smart way to invest in cryptocurrency and you don’t need to worry about the short-term volatility. This is a fantastic method to be noticed.
Top Staking Altcoins
Harmony (ONE)
Harmony is a blockchain platform designed to facilitate the creation and use of DApps. The network aims to innovate the way decentralized applications work by focusing on random state sharding, which allows creating blocks in seconds.
This is a fantastic opportunity when Harmony rewards 9.51% APY for staking ONE. This is another fantastic opportunity to increase your portfolio.
Cardano (ADA)
Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change.
It’s worth staking because there’s no lock-up period with Cardano. They reward 4.6% and the average over the year would be 4.6083%. This is a very safe way to make a passive income.
Moreover, Chris also mentioned Vechain (VET), Polygon (MATIC), and PolySwarm (NCT) as the top altcoins on his portfolio that have full of potential to hold and do staking to earn more passive income. But these altcoins should not be considered as financial advice. Traders should do their own research to make the best investing decision.
Sign up for a Binance account here (Discount 10% trading fees): https://accounts.binance.com/en/register?ref=29171587
Read more: