Passive Earning With AVAX

[Yugocean]

To mention in the intro of AVAX is that it is the native token of Avalanche Smart Contract. It is a cryptocurrency, but here we will discuss the possible passive income that can be generated by it.

AVAX is not a POS type of crypto, but is called a 'layer 0' PoS blockchain due to Avalanche's node rewarding AVAX holders with interest.

Although it may be a good type, however, it is expensive; a minimum of 2000 AVAX has to be staked for this, and one AVAX is above $100.

It pays interest (APY) at the rate of Up to 11%, average is 9.77%.. If you have 2000 AVAX, then you can earn upto 220 AVAX as passive income in a year.

Those who cannot afford such, they can stake small amount of token, as small as 0.1 AVAX through a third party such as Binance and earn passive income at a rate fixed by the third party.

 

[goodmoneygoodlife]

Well you wrote this on Weds before the feds were all like 'we're hawkish now' -- so now AVAX is only $80. Good buying opportunities coming up soon, if not now.

Though crypto is extremely risky so I wouldn't recommend putting more than what you can lose (i.e. only a few percent of your net worth).

Currently, their website says APR is 9.77%, or $15,838 for a $160K risk. I think this isn't worth it. You can easily buy something that's ~9% return like QYLD instead, without the extraordinary risk that comes with crypto. I feel like I might hit up crypto staking if it's beyond 20-25%, otherwise it seems like a bad play (unless you're intending to stake with the anticipating that AAVX would double or something, in which case the 9.77% is really like 20%).

 

[sincerem]

I don't see much of the interest here in staking avax, 11-15% APY interest isn't much as profit to wait for a period of one year. Those who have enough funds to stake much of the avax are positioned to earn well over the period of one year with such APY interest mentioned above.

 

[Yugocean]

@goodmoneygoodlife , thank you for coming up with update.
Platform will make changes with the movement of market, no plan is 100% thing to stay. And there you have a point to be noted that reward beyond 20% is bad play.
I added the rewarding update in the content

@sincerem , now it is below that, new update is Up to 11%, average is 9.77%.

 

[eldavis]

Sounds nice, but I don't think I am ready for this right now. I do not do staking, and I have never even done it before, Which I don't think I am ready to start. Has this coin been listed?

 

[sincerem]

@goodmoneygoodlife , thank you for coming up with update.
Platform will make changes with the movement of market, no plan is 100% thing to stay. And there you have a point to be noted that reward beyond 20% is bad play.
I added the rewarding update in the content

@sincerem , now it is below that, new update is Up to 11%, average is 9.77%.

Thanks for updating me. The reward for staking is just drifting down. I can only earn something tangible with such kind of APY interest if I am staking with large funds, if not, their is nothing much to earn. Unless the coin surge very high within the period I staked it to the maturity date, that's when I'll earn double reward that is reasonable from the coin.

 

[Yugocean]

Thanks for updating me. The reward for staking is just drifting down. I can only earn something tangible with such kind of APY interest if I am staking with large funds, if not, their is nothing much to earn. Unless the coin surge very high within the period I staked it to the maturity date, that's when I'll earn double reward that is reasonable from the coin.

Such reward might come down again because upto 11% with 9.77% average means, there might be even low reward which we don't know how much low. So this type of passive income is surely not worth, and when AVAX value crashed, then it might be not helpful at all, better we should find other program.

Has this coin been listed?

Yes, AVAX is at 11th position of crypto market ranking, recently it beats the doge in ranking .

 

[sincerem]

Such reward might come down again because upto 11% with 9.77% average means, there might be even low reward which we don't know how much low. So this type of passive income is surely not worth, and when AVAX value crashed, then it might be not helpful at all, better we should find other program.



Yes, AVAX is at 11th position of crypto market ranking, recently it beats the doge in ranking .

Good for your advised dear friend, it is better to look out for better alternative to earn passive reward via crypto currency instead of relying on this low earning potential of Avax. Avax is simply a potential gifted coin, for it to usurp dogecoin and into 11th position. Doge on its own haven't been at its best lately, it's been bearish since it last reached $0.65 earlier 2021. Those who invested in dogecoin are simply in massive loss when they saw such huge potential in it earlier 2021. I just hope Avax doesn't go low after showing flashes of reasonable potential to replicate a reputable coin for the future for it's early investors mostly. I'll keep an eye around the coin to monitor nits progress to see if it can be an option for me to invest in it long term.