Today’s Key Takeaways

Staking income can be managed in your spare time

Staking income can allow more time for friends, family, and personal growth

Staking income can allow you to ditch traditional work constraints

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Passive income from staking crypto

You value autonomy and the ability to live life on your terms, so you are looking for investment opportunities that can provide multiple income streams and help you achieve a work-life balance. Enter crypto staking!

Many crypto investors love earning yield on their tokens. Staking is a simple way to generate passive income and one of the easiest ways to earn money from home.

Staking income can be managed in your spare time

One of the most appealing aspects of staking cryptocurrencies is flexibility. Your tokens go to work for you on the blockchain and are earning passive income 24/7/365. You can manage your staking investments from home, a coffee shop, or while traveling the world. You only need internet access.

Plus, you can compound your investment by claiming rewards and restaking them as often as you like. We recommend compounding at least monthly.

Services like, Yieldmos make it even simpler. They will compound your staking rewards for you.

Time for friends, family, and personal growth

Staking cryptocurrencies can be a relatively hands-off investment strategy. Once you have staked your tokens, the rewards accumulate until you claim them.

You must check in occasionally to make sure your validators are performing and to compound rewards. However, there is no need for constant supervision or micromanagement.

That gives you the opportunity to focus on other aspects of your life, like spending more time with friends and family, enjoying date nights with your significant other, or pursuing personal growth through hobbies and learning.

The passive income from crypto staking can allow you to bring balance into your life.

Ditching the traditional work constraints

You probably don’t like dressing up for work or suffering through endless meetings, and staking cryptocurrencies offers a way to break free from that.

You build your stack of tokens and accelerate your passive income by compounding, claiming rewards and restaking them.

You build the number of stacks in your portfolio by swapping some of those rewards into tokens from other projects that you also stake.

Your staking rewards can be converted to fiat and used to pay your bills, or restaked. You have income that you can turn on and off, like a faucet.

Each stack of tokens gets you one step closer to financial independence. Staking income can provide the freedom to design the life you have always envisioned, a life on your terms.

Setting up your wallet for staking

To stake crypto, you will need a noncustodial wallet. In this section, we’ll walk you through the general process of choosing the right wallet, transferring your tokens, and maintaining wallet security.

Different types of crypto wallets

Hardware wallets: Physical devices that store your private keys offline, offering the highest level of security.

Blocks United recommends using a hardware wallet, like a Ledger.

Software wallets: Applications installed on your computer or mobile device that store your private keys, providing a good balance between security and convenience.

Keplr is the recommended wallet for the Cosmos ecosystem and Metamask is the recommended wallet for Ethereum.

Web wallets: Online platforms that store your private keys, accessible through a web browser. These wallets are generally less secure than hardware or software wallets, but offer greater convenience.

Hardware wallets, like the Ledger can connect directly to web wallets, like Cosmostation.

Transferring cryptocurrency

1. Purchase your tokens from fiat (ATOM, or MATIC) on a reputable exchange, like Coinbase or Kraken.

2. Generate receiving addresses for your tokens from your wallet. Each blockchain will have a separate receiving address. Think of it like a mailbox that holds crypto.

3. Initiate a withdrawal from the exchange, using the receiving address generated by your wallet. You should receive your tokens in a minute or less.

Wallet best practices for security and maintenance

1. Regularly update your wallet software to ensure optimal security. Wallet providers will never send you an email prompting you to update. Those are phishing emails. Updates happen from within the wallet.

2. Write down your wallet seed phrase to store offline and in a secure location.

3. Enable 2-Factor Authentication (2FA) wherever possible and use strong, unique passwords for your wallets and associated accounts.

4. Keep your seed phrase and private keys secure. Never share them with anyone you don’t trust with your life.

Conclusion

By properly setting up and securing your wallet, you are ready to stake your tokens and generate the passive income you have been looking for.

Staking truly is one of the easiest ways to earn money from home. Token prices are volatile though, so the fiat value of income will fluctuate. Crypto is an extremely volatile asset class, so never invest more than you can afford to lose.

By reinvesting your staking rewards, you harness the power of compounding and can grow your assets and income. You then free up time for personal growth, relationships, and experiences that enrich your life.

Growing your crypto assets and income by staking can enable you to create a life that reflects your values and ambitions.