Can I earn money by staking coins?

In the cryptocurrency world, everybody knows about mining bitcoin. In the ”old days”, people could setup mining on a regular home computer with a powerful graphics card installed and actually make a dime from time to time. But as Bitcoin is getting harder and harder to mine, people let the big players mine bitcoin and look to other coins to try to make a profit.

Normally you mine with your computer and get coins as a reward. That’s how transactions are confirmed. That’s called Proof of Work (PoW) and is referred to as mining.

But there is also a System called Proof of Stake (PoS), where transaction confirmations are not done with hardware, but with already owned coins. An amount of your coins are ”on the stake”, while they are used for staking. That depends a little on the implementation, but basically you get a certain percentage of your coins as a reward.

Some people think, they can ”earn” coins this way, but that’s nonsense, because if the market cap stays stable, the single coins are worth less, if new coins are generated. So you just “keep” your value, if you are staking. And you ”lose”, if you are not. It’s like in a bank if you get 2% interest and the inflation is 2% as well. You only “earn”, if there are transaction fees and if those are also paid to the staker.

Huge thanks to Dwarrel Corner for originally posting on telegram.

Bitrad.io [BRO] Coin Earning Guide

Earning BRO is easier than you think. With more than 80,000 users, bitrad.io is the main source of free BRO coins. You simply sign up for the free radio service offeredm start listening to musinc and you’re done. When ever you listen to music via bitrad.io, you get paid. BRO coins are currently traded at Cryptopia with hopes on hitting Bittrex in the near future.

Here’s what you have to do to earn BRO:

  1. Sign up at bitrad.io
  2. Download the BRO wallet
  3. Get your receive address from the wallet
  4. Put your receive address on your bitrad.io profile
  5. Listen to radio and earn BRO 🙂

If you accumulate a lot of BRO coins, you should stake your coins. Chances are you’re already doing it as the BRO wallet is set to stake your coins automatically. When staking, you can be rewarded – the reward is currently 0.5 BRO and by hovering over the small lightning bolt in the lower right corner of your wallet, you can get an idea of how long you have to wait (on average) to be rewarded.

Great tool for monitoring masternodes

MasterNodes.online is a masternode comparison platform currently monitoring 39 different coins. The site is a great tool for planning masternode investments, as you get a clear overview of how the coins are performing.

The overview page gives you quick info on all the coins, such as coin price, masternode requirements (also known as collateral), annual ROI, masternode valuation etc. For each coin there’s additional advanced info such as income calculations, block monitoring, lock down status and historical data presented as nice looking simple graphs.

If you’re into masternode investments, you should drop by MasterNodes.online and take a look. The site opened in June 2017 and the devs are happy to get recommendations on how to make the service even better.