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5 Altcoins That Pay Dividends To HODL

It is a common notion among crypto traders that the only way to earn from cryptocurrencies is through day-trading, but there are several ways to earn passive income for just HODLing. Indeed, one of the popular ways is to earn is through dividends on altcoins that you hold long-term.

What is a crypto dividend?

Savings accounts from a bygone era used to pay over 5% annual interest just for holding funds with the bank. In essence, you let the bank invest your money and you get a small percentage by way of a dividend. Unfortunately, bank rates are pretty terrible these days and our money gets locked into long-term agreements with little return. In comparison, crypto dividends give HODLers bigger payouts than traditional banks.

How is this possible?

The overhead is extremely low for most cryptocurrency projects. Most crypto teams work remotely while most banks still operate within a bricks and mortar structure with associated costs. And while banks turn your deposits into 5x gains, Proof of Stake crypto projects are often more appreciative of your support. By HODLing an altcoin, you are keeping their system secure and more stable. In other words, your investment is a ‘stake’ in the project’s overall success. Staking your cryptocurrency has a compounding effect on deposits. When you stake cryptocurrencies and keep them in a network’s wallet, you get payouts from time to time. This payout is a crypto dividend.

Top 5 Altcoins that Pay Dividends for HODLing

Komodo (KMD) – Komodo offers a one stop shop for businesses looking to create their own blockchain network. Komodo makes it simple for traders to stake their cryptocurrencies. Following are the steps in the process:

  • Visit Komodo Platform’s website and download a wallet.
  • Deposit at least 10 $KMD into your new wallet.
  • At least once per month, log in to your wallet and click the big, green ‘Claim’ button.

Current APR: 5%

CloakCoin (CLOAK) – Cloakcoin is an improvement over Bitcoin in terms of privacy. Privacy coins shield your financial transactions from the online snoops and sniffers out to track every cent you spend. In addition to preserving your privacy via encrypted, untraceable transactions, the CloakCoin project rewards open wallets. To stake CloakCoin, download the CloakCoin wallet and leave it running on your computer.

  • Get started with as low as 1 CLOAK to get started, but more coins in your wallet mean more frequent payouts.

Current APR: 6%

V SYSTEMS (VSYS) – VSYS is building a simplified, cloud-based platform on which developers can create their own blockchains. Owing to their innovative and balanced Supernode mechanism (SPoS), your rewards come from leasing coins to the Supernodes. To begin staking, simply choose your VSYS wallet then make a deposit. Select a Supernode and send them your VSYS coins.

Current APR: 20%+

NEO (NEO) – NEO is a popular cryptocurrency and is also known as Chinese Ethereum. Apart from the NEO cryptocurrency, NEO has one more crypto-token called GAS which can be staked in a NEO wallet for a handsome return. But only a few wallets let you claim the GAS, so you need to pick the right wallet to get the GAS dividends. The dividend earned is in the form of NeoGAS.

Current APR: 5.5%

Blocpal (BPX) – Blocpal is helping users fulfill their need of paying in a currency of their choice. Not only can you store, spend and send BPX from within the BPX wallet, but as a token of appreciation to all BPX holders, the coin will be paying out 33% of BlocPal’s net profits in royalties. This is the largest dividend being offered across the industry.

– This article was originally posted at CryptoTraderNews

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