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Staking Coins & Earn Interest While Having Atomic Ownership

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Cesc0410
@chekohler
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3 min read

Hey Jesstackers

I'm a big fan of passive income, yall already knew that there's no better feeling than going to bed knowing that your money is working for you, but finding these darn opportunities are harder than you think. Banks around the world aren't handing out interest rates to run home to with my local banks in South Africa going as low as 3% on your savings or money market account

Internationally interest rates on savings sit below a percentage, and it looks like negative interest rates for retail banking won't be too far away from being a reality with Deutsche bank announcing negative interest rates for retail customers with 100 000 Euros or more, which I'm sure that range will drop over time.

Looking for places to get a little bit of passive income is getting smaller for the retail investor, and we're being pushed into riskier and riskier asset classes or jumping in on market bubbles hoping to get some yield.

Why Mine When You Can Stake?

Proof of stake and delegated proof of stake coins are a great way to earn a passive income without having to trade or know how to mine or set up a node or any of that. Staking coins can be as simple as setting up a wallet with a service provider or exchange like Binance and knowing which currencies to own.

I've spoken in the past about custodial services that pay interest on your holdings like crypto.com and The Celsius network, and if you've read those, you'll know my biggest issue is that you do not own your coins.

You send your coins to be held in cold storage by a company, and they'll pay you interest for trusting them with your funds.

Why not stake and own?

STEEM and HIVE users know all about staking and getting their 2.25% or so interest on their stake using a wallet that they have full control over, its built into the system when using these chains and has become the norm.

However, not many other wallets offer this kind of service, holding your coins but still generating an income from your stake, that was until I found Atomic Wallet

Atomic wallet is a hot wallet application for Android and iOS that allows you to store up to 300 different tokens and cryptocurrencies on it.

You create your wallet and keep your keys safe and ensure you're the only one with access to these wallets. The wallet also has a nodes, so it allows you to stake a few currencies in their app.

The atomic wallet currently has staking abilities for the following tokens:

Staking wallet in Atomic Wallet

  • Cosmos - 10%

  • Tezos - 7%

  • Tron - 5%

  • Ontology- 5.6%

  • NEO - 1.4%

  • Komodo - 5.1%

  • ALgorand - 5.6%

  • VeChain - 1.63%

I had a bit of Tron from an airdrop years ago sitting in a native wallet and purchased a few tokens on Binance a while back and thought I'd test out atomic wallets staking.

It was pretty simple, I created my receive address, sent my tokens over, then selected my Tron wallet and moved the tokens into my staking wallet, and that was it, simple, and now I'm getting 5% APR on those tokens.

I really like the idea of having a hot wallet with staking support and running supporting nodes for chains. I think that more hot wallets will have to adopt the service and combine with staking coins to give users more control over their coins and invest without the need for a third party to manage their funds.

Have your say

What do you good people of HIVE think? Have you started staking before? How do you stake your coins?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

Let's connect

If you liked this post sprinkle it with an upvote or esteem and if you don't already, consider following me @chekohler

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