So now you’ve mind a few HNT, and you’ve got it sitting in your Helium wallet in the App.
You could just leave it there, or you could invest it!
This is a great way to earn passive income. Earn while you sleep.
You place your hard earned HNT into a type of online bank where you can earn interest, this would be called staking.
This can be done with many types of coin.
Coins that are always the same price as the current USD or GBP are called STABLECOINS. There price trys to match the current dollar or pound.
USDT, USDC and TGBP are all stablecoins. A guide to the best places to invest with stable coins is here.
And even a whole list of stablecoins.
Simply send your HNT to a wallet address of the Staking wallet provider which when you sign up you will be given. Once you deposit the HNT you want to stake with, you will start to earn interest.
Stable coins can give you up to 12.3%apy straight away with www.YouHodler.com
and lots of others that are all around 10%apy.
APY stands for ‘Annual Percentage Yield’
. APY is the Yearly interest earned on your deposit.
Compare this with your high street bank that gives up to 0.5% interest!
If someone asked you I can give you 27 times the amount you currently get – you would probably take them up on their offer. I find that I got about £10.00 per month, for every £1000.00 of USDT invested for others to take loans on at a higher rate of borrowing. They take their cut, and gives you a slice of the money, and thanks you for putting up the original money to lend out!
There is a difference between Staking and Investing.
Staking is a type of investment.
There are many different websites for staking but you have to be very careful who you stake with.
Some websites are set up overnight and can be scams. The best way is to find somewhere that’s being used by many users, reviews, and well rated. You must have good contact, phone, email, contact address, and be in touch with a person usually through something like discord. Check all financial websites out for a long time, till you are happy that it’s not a scam, then invest a small amount, and when you feel happy, you can add the rest later. as with all crypto usage, check everything 3 times, when sending any money and NEVER do this after a few drinks. It doesn’t end well.