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Generate passive income with your Hive Power

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@myfreebtc
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3 min read

One of the main incentives for powering up your hive is being able to use it to generate even more Hive. That was one of the things that made me addicted to steem, it was the first Proof of stake crypto that was simple enough for me to understand. Nowadays there is an abundance of opportunities to put your cryptos to work but that wasn't the case back then.

Make Hive Power work for you

You can earn Hive by posting but if you're just too lazy for that there are other alternatives to put your hive power to good use with very little work and oversight. Curation content is easy however it still requires some work to find good content and be sure that you're using all of your voting power. You have to make sure you're NEVER sitting at 100% VP to maximize your gains and that requires you to curate content every 3 to 4 days. If you just want your Hive to grow without your oversight there are a couple of different methods by which you can automate 99% of this process.

Dlease

Dlease is a platform where you can delegate your hive on the open market, users make offers and all you have to do is find one that suits your desires and click on Delegate, it works with Keychain so the whole process couldn't be easier. When the delegation period is over you get a transfer from Dlease warning you to revoke the delegation. Dlease transfers you're payout daily which is great if you want to snowball your hp little by little. I go there every now and then to see the APRs, if I see anything over 15% I jump on the opportunity right away.

Hive.vote

Hive.vote allows you to fully automate your voting. There are two different ways to set this up:

  1. Create the list of your favorite authors and you'll upvote all their content automatically.
  2. Follow a curation trail. Every time the curation trail leader account upvotes something you will also upvote it right away.

There are a couple of disadvantages with both of these methods because on the first if the authors you like suddenly decide to start posting low-quality content you'll be supporting them automatically. On the second one, you're relying on the curation trail owner to use you're voting power wisely, if he decides to upvote bad content you're along for the ride.

I have Hive.vote active on my account to make sure I'm not wasting any VP. If my account reaches over 80% VP it will automatically upvote some of my preferred authors. It is a great service but use it wisely.

Delegate

I'm not very educated on earning from delegation services so you have to research the best APYs if this is something you want to do with your HP. I sometimes delegate to @leo.voter because I like the project (I don't even know the APY), they payout daily in their own currency (LEO).

Voting bots

I don't like using voting bots and I think the other options are superior and healthier for the Hive ecosystem so you'll have to do your own research if this is something you want to use.

Posted Using LeoFinance Beta