Best new crypto coins to earn the most interest
If you need new crypto coins for passive income, you’ve come to the right place! I will list the best digital currencies that will allow you to earn passive income. You might be surprised when you see just how high the interest rates are. If not, you might be batting an eye on the potential earnings for each of my selections.
It makes sense once you learn how the cryptos work though. I understand it seems sketchy since most people are still comparing it to the old fiat currency system. We’ll go beyond that though, so you can see just how cryptocurrencies make so much money for their holders. You might even start adding them to your portfolio!
I’ll kick things off with my list of the best crypto coins for making passive income. Stick around after that, and I’ll explain just how cryptocurrencies generate this much income. I’ll get into how these digital assets function by explaining details like their networks. Later, you’ll see how you can start investing as well.
3 best cryptos for high-interest staking
- Axie Infinity (AXS) – The online gaming token for max earnings
- Ethereum (ETH) – Second-largest crypto and second-best for staking
- Chromia (CHR) – Great for dapp creation and wealth generation
#1. Axie Infinity (AXS) – The online gaming token for max earnings
Interest rate: 114% APY
You want huge earnings right? Is an interest rate of 114% APY big enough?! This is how much you can make from staking in Axie Infinity, the most popular NFT game right now!
It’s a play-to-earn video game, meaning that it allows players to make money while playing. Axie Infinity is similar to Pokemon because it involves battling digital pets called Axies.
As you play, you earn SLP and AXS. The former is a utility token that lets players breed new Axies. On the other hand, the latter lets you buy and sell Axies and plots of in-game land.
You may exchange both of them for fiat, helping many people in the Philippines earn extra money. Yet, AXS is the only one you can stake.
At the time of writing, the staking reward is 114% APY or annual percentage yield. This is the estimated earnings after a year. With that much interest, you could double your coins!
It hit an all-time high of $165.37, but the AXS price has simmered to $101.09 right now. NFT games are becoming more popular though, so that price may rise again soon!
#2. Ethereum (ETH) – Second-largest crypto and second-best for staking
Interest rate: 20% APY on average, depending on staking service
This is the second-largest cryptocurrency at the time of writing. Ethereum has a massive market capitalization of $473,402,590,267.77, and most altcoins are built on its network, including AXS.
It’s well-known for being the biggest platform for smart contracts and NFTs. These are essential for numerous services like decentralized finance (DeFi) and NFT gaming.
Just to clarify, Ethereum (ETH) is the name of the crypto network or blockchain, and its native cryptocurrency is called Ether. Most people prefer calling the crypto Ethereum, though.
You may stake Ethers in two ways, depending on how much you can buy. If you have 32 Ethers, you could become a full validator as this is likely the most profitable choice.
You will not be able to withdraw your funds until a major upgrade called “the merge” launches. This might not be a choice for most because 1 ETH costs $3,989.95 at the time of writing!
If you don’t have that many, you could stake Ethers in various staking services. As I’ve said, the interest rate could hit 20% APY, depending on the service provider.
That’s not the only reason why you should think about getting this as your new crypto coin. Ethereum is one of the biggest cryptos right now in terms of market cap.
If you want long-term earnings, this is a strong option. The crypto market is down right now, but that has happened before. It’s likely to boom again once that slump ends!
Read More: What Is Metaverse Gaming?
#3. Chromia (CHR) – Great for dapp creation and wealth generation
Interest rate: Roughly 25% APR on average, depending on staking service
This one is by no means a new crypto coin. Chromia (CHR) used to be in the top 100 cryptocurrencies, but it has since sunk lower in the list.
Chromia is a dapp creation platform. It helps people make decentralized applications, similar to regular software except gain extra features from the blockchain.
The note-taking app BlockRiot is a great example. It secures your notes with blockchain, so you can list details that you don’t want anyone else to read.
This is made possible by its relational language or Rell. It lets people use various programming languages and templates for creating dapps.
What’s more, it allows the creation of sidechains that have separate tokens pegged to Chromia’s native cryptocurrency called Chroma.
- Stake Chroma tokens for at least two weeks.
- Vote on proposals regarding the Chromia blockchain.
Similar to Ethereum, various staking services provide this feature. Choose carefully, as some service providers may run off with your stakes.
How does staking work?
It’s important to know how staking works before you start. This will help you find new crypto coins that are safe and profitable. It’s all made possible by the proof-of-stake system.
This is an alternative to the old proof-of-work model used by many of the earlier cryptocurrencies, especially the first one: Bitcoin (BTC). It had a few major flaws though:
- It used up a lot of energy. Various strides have been made to turn bitcoin eco-friendly though. For example, El Salvador now uses geothermal energy for bitcoin farming.
- This old model gave an unfair advantage to those who can afford the fastest computers. They were the ones who earned the most from crypto mining.
Eventually, the proof-of-stake model came out to solve these issues. Instead of having the fastest PC, you will need to have the largest stake in the network.
This model selects the computers that will validate transactions at random. However, those with more staked tokens have a higher chance of being chosen.
If you leave more coins in there, you will earn more money from the interest rate. What’s more, cryptocurrencies serve as security tokens in proof-of-stake models.
The network selects the validators at random, so it reduces the chances of people owning more than half the participants to control the network. This scheme is known as a Sybil attack.
How can I start staking?
You may stake cryptocurrencies in three ways: crypto exchanges, cold wallets, and decentralized staking providers. Let’s take a closer look at each one:
- Crypto exchanges – Sites like Binance and Coinbase are the usual places where people buy and sell cryptos. They often provide staking services too. Note that the rates will vary depending on your chosen platform.
- Cold wallets – You may purchase small devices called, so you can carry your coins offline. They’re the best way to secure your cryptos, and they also let you earn staking rewards.
- Decentralized staking providers – You may earn more from staking pools than in crypto exchanges. Still, you must be careful which one you’ll use.
Many of these options let you purchase coins too. For example, Binance lets you use your debit or credit card to buy coins. It even has a native cryptocurrency called the Binance Coin or BNB.
Staking seems like it works like a bank, but it is still risky. Before you invest, make sure you are aware of the issues you may face, such as market risk.
Crypto prices move wildly every minute. The coins could lose or gain more than half their value within such a short period! That could hurt your gains despite a high-interest rate.
This is why you should look into your cryptos carefully. You’ll find so many new crypto coins coming out with their initial coin offerings, but only a few are truly worthwhile.
This article doesn’t give investment advice. This isn’t as simple as buying the top cryptocurrency by market volume. You have to learn all you can about the assets before investing.
Look into details like trading volumes and use-cases, so you can find new crypto coins properly. You might find a hidden gem, such as Elon Musk’s Dogecoin and the other Shiba Inu altcoins!
Read more Inquirer USA articles to get a sneak peek into other cryptos. You’ll even learn about other assets like stocks and bonds.