I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART OF THE CRYPTO TIPS TEAM, THEY ARE SCAMMERS! Twitter: https://twitter.com/blockchainchick Instagram: https://www.instagram.com/realcryptotips/ LBRY: https://lbry.tv/@Crypto-Tips:b LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW: VIDEO SUGGESTIONS Intro to Defi: https://youtu.be/mqdD_2rX4-0 Without This, Crypto Won’t Survive: https://youtu.be/Jg-zk_Nhpq0 What Most People Won’t Say About BTC Halving: https://youtu.be/VHeYKnSavxo How to Find a Great DEX: https://youtu.be/AMsp3knAfBs Are You Buying the BTC & ETH Rumors? https://youtu.be/iKzqTC86VP8 Everyone wants to know how to earn money with cryptocurrencies. So here’s one surefire way to do it. This video is going to briefly go over what to expect if you want to stake your coins, how to find coins that are stake-able, the safest way to stake your coins and what you should be aware of if you choose the DeFi route, In the very near future I will be making a video that goes in-depth on this concept of proof of stake consensus or POS and why so many coins these days are being designed with this consensus model but for today, let’s focus on the possibility of earning a passive income. To put it very basically, Proof of stake coins are certain cryptocurrencies that are designed to encourage those who invest in them to hold onto them by rewarding these investors with a certain percentage of return annually. The amount of coins needed to qualify for these rewards varies from coin to coin. There are essentially two ways to earn a passive income from POS coins, you can delegate your stake to a validator, or you can be a validator. Being a validator will require you to have that particular coin’s specialized wallet open and running 24/7. Additionally it is VERY likely that the minimum number of coins required to qualify as a validator will be higher than if you were to just delegate your coins. Delegating your stake does not require you to have that special wallet open and running 24/7, instead, you are essentially assigning your stake to a particular validator without actually sending your coins to them. Another common term for a validator is a master node, some coins that are well-known for this include: Dash and PIVX. In all actuality there is a huge list of master node coins but very few of them are actually worth the investment. The thing you have to remember here is that you are required to invest money into these projects and hold them for the long term. You’re being paid out in that coin as well, so if you’re spending all of this time and money, you’d better be sure that the project is worth it and not just vaporware. It is also possible to earn a passive income in a very similar manner with proof of work coins as well, like BTC for example. This is when we tap into that DeFi space AKA Decentralized Finance. If you’d like a proper introduction to this DeFi mania, I’ve provided a link down in the video description that goes over just that. Why people choose to take out crypto loans (access value of your crypto without losing your position) Also, repaying a crypto loan is not a taxable event, in fact you might be able to deduct your interest… contact your tax professional to know what’s possible and legal. Stake BTC with Blockfi- it is custodial, meaning you give them your coins. They are stored on Gemini exchange cold storage, highly rated security protocols BUT the fact remains, the coins are no longer in your possession. How to find coins that are stake-able- not all coins that are listed on binance are worth investing in, also they have recently introduced high-yield savings accounts and loan platform- just be wary of this as it encourages you to keep your coins on that exchange for the long term. They are not very highly rated for their security protocols. (Blockfi uses Gemini which is highly secured and audited, Binance is not) Here’s a great alternative, no not alternative, this should be your first choice. Finding wallets that allow you to stake your coins while still keeping custody of your coins. One option available to you is Atomic Wallet. This one allows you to stake several fairly reputable coins while keeping your coins in your possession.