In this unstable time, when various economic cataclysms occur that directly affect the state of our wallet and purchasing power, it is always worth thinking about plan B. By plan B, I mean the type of earnings that will be minimally dependent on economic and political collapses and will replenish your family budget without having to devote a lot of time on it.
But considering various ways of passive income, you can come to the conclusion that there are very few available and interesting options. Banks practically do not offer such an opportunity, and if they do offer – it’s a ridiculously small percentage of passive earnings. Renting out real estate implies an initial considerable amount of money that must be invested in the purchase and renovation before it is rented out. And this applies to any business that is built from scratch – you need a lot of money to make money. Investing in stocks is not a stable passive form of earnings as it also depends on political and economic sentiments.
As a result, it turns out that there are practically no stable passive earnings with minimal risk. However, a new type of passive income comes to the rescue thanks to new technologies in the face of blockchain – staking. Already now, staking is gaining more and more popular among users who want a stable income with minimal risk. Why is staking the best type of passive income? Let’s take a look at this using the PIVX example.
The availability of passive income is an important aspect, because, as I wrote earlier, to organize your business, which would give passive income, you must have a large amount of money initially. Investment funds have a threshold of a certain amount of money (and it is also quite big) at which you can invest your funds. What should those who live in disadvantaged states or states with low minimum wages do?
On the other hand, PIVX provides the ability to run staking without a specific threshold. You can stake PIVX even if you have 1 $PIV in your wallet (as of 25th of August,2020, the price of 1$PIV = $ 0.48)!
- Income stability
The stability of passive income from PIVX staking, unlike other alternative options, does not depend on the political or economic situation in the country, does not lend itself to influence from centralized states, since PIVX is completely decentralized. The percentage of passive income also does not depend on the decisions of centralized organizations, but only depends on the volume of coins that are currently in staking (staking volume). What does it mean? At the moment, PIVX staking brings in over 8% per year. The more $PIV coins you stake, the more total coins you have in staking mode and the more rewards you will receive.
- Safety and minimum risks
Unlike other alternative ways of earning passive income, your investments are not frozen. At any time, you can transfer all your savings and passive income to another account, or sell everything in a matter of minutes. Moreover, your funds are not held in third party accounts or in a bank. In this regard, there is much less risk that your savings will be stolen or your account will be closed. Thanks to your personal wallet, all your savings are directly in your hands and only you know the key to it.
How many companies suggest that you not only invest in them, but also have a voice in a company’s further development directions? By purchasing 10,000 PIV and launching a masternode, you are offered even more benefits: from increasing the % of passive earnings, as opposed to simple staking, to giving you the opportunity to vote for the further PIVX development.
Since you receive passive income in the form of $ PIV coins, you have a great opportunity to increase your portfolio in dollars in the long term, since PIVX has not only the newest generation technologies, but it is the currency of the future – private (very soon), instant (transaction carried out within 60 seconds), verified (there is no way to forge a transaction in any way) and decentralized cryptocurrency.
And these are not all the reasons why staking is the best way to earn passive income right now. Here are a few more benefits:
- Starting staking is very simple. You just need to download the wallet, send your coins to it and unlock the wallet for staking. This process will take you no more than 30 minutes.
- There is no need to invest big money. All you need is a computer and a good internet connection. With cold staking, you don’t even need an internet connection at all.
- Monitoring. Unlike other methods of receiving passive earnings, where in order to obtain the information you need to either involve other persons directly dealing with your assets, or spend a lot of time yourself – with staking you can get all the information only by looking at your wallet, which transmits all the necessary information online
If you haven’t decided yet which passive earning method is best for you, I hope this document will put everything in its places.