PASSIVE INCOME
(the article I found here:
https://www.linkedin.com/feed/update/urn:li:activity:6917793863591993344/ One of the bigger experts in WEB3)
Banks VS Crypto : Interest vs Staking
Today, the most common way people seek to turn profit on their investments is with a savings account in a bank.
However, depending on where you are based and the options available to you, odds are that even the most generous savings account will only pay somewhere in the range of 1-2% yearly, if you are very lucky...This value is barely above the rate of inflation in most countries, and is actually a worthless return.
Luckily Crypto has an alternative for the Bank 's "interest":
#STAKING
If you're a crypto investor, staking is a concept you'll hear about often. Staking is the way many #cryptocurrencies verify their transactions, and it allows participants to earn rewards on their holdings (aka the interest of cryptos). The interest a holder gets, depends a lot of the crypto itself. It can go from 5% till much higher returns.
One of the crypto's with interesting staking returns is #ICP¨, as it can give you uptill 28% APY (yearly).
Sounds better no?
HOW DO I STAKE ON ICP using NNS?
1. CREATE AN INTERNET IDENTITY
You will need to create an internet identity to login to the NNS app. This is easy to do if you have a fingerprint reader on your computer or phone or you have face id on your phone. (if you don't, you will need a physical key, for ex Yubikey or you will have to connect a wallet)
Create your Identity here:
https://identity.ic0.app/(never forget to write down your seedphrase)
2. LOG IN THE Network Nervous System DAPP
The network nervous system is the way that the internet computer is governed, and staking ICP will allow you to participate in the community governance of the internet computer.
Connect here:
https://nns.ic0.app/v2/After authorizing, you have successfully logged into the Network Nervous System (NNS )
3. TRANSFER YOUR ICP to your NNS Wallet
Once you login with internet identity you should see a “Main” wallet displayed. There is a long wallet address underneath the name. This is the ICP wallet address for your “Main” wallet. Now, go to Coinbase or Binance (or wherever your ICP is) and transfer your ICP to that wallet address. It should only take a few minutes (at the most) for the transfer to go through.
4. STAKE YOUR ICP IN YOUR NNS Wallet
Step 1: Click on the Neurons tab and click Stake Neuron.
Step 2: Enter the total number of ICP you want to stake, and click create.
Step 3: Set the dissolve delay to your preferred years of stake, and click update delay and confirm it.
Step 4: Next, select your topics of interest for the proposals you can vote for. As here, you actually own your currency (not banks holding it) and you can vote on topics for the governance of the ecosystem.
Enjoy your freedom and your real passive income
PS For more detailed explanation, follow the steps in the video and article here;
https://[Suspicious link removed]/exJNYdPy
I like passive income cause if i stake 10 or 20 project i can get an handsome feebback every month or every day so i agree with staking systum.
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