The recent crypto collapse took the crypto world by storm. While it is true that the crypto markets us full of pumps and dumps, nothing prepared holders and traders for this massive dump. With Bitcoin (BTC) touching $20,000, many people are now thinking of alternative ways to make money from crypto. Of course, coins like Solana (SOL) might give you a decent return on your investments, but some coins like Parody Coin (PARO) might even be better.
The most popular way to get returns on your crypto asset is by hodling it: meaning you keep it for a long time with the hope that it explodes in the future. Does it work? It does, most times when you have the right coin. Take, for example, a holder who bought Bitcoin (BTC) at $8,000 in 2020. Even with the current market conditions, that person would still be in profit.
You can see why hodling is the choice of most people who do not want to be too active in crypto. You buy a coin, forget it for a few years and come back to meet a fortune. It is not always that easy. Some altcoins terribly lose value over time. So, instead of meeting a fortune over some years, you lose money.
Now that we have to see that hodling a coin alone might not be such a good way to make a passive income from crypto, what other options are there? You can choose to stake your coins. Staking allows you to generate extra money from crypto through rewards. Staking coins like Solana (SOL) can give you up to a 13% return per an um on your investment, which benefits you in both ways.
Firstly, if the price of Solana (SOL) goes up, you still get your staking rewards. You benefit from both hodling and staking at the same time. And even if the price decreases, your staking rewards can help you mitigate the loss from a crypto collapse.
However, there is a better way you can make even more money from crypto. You can make a decent sum by holding some altcoins by hodling them. How are they better than Bitcoin (BTC)? Well, Bitcoin does not reward you for reflections. Reflections are extra tokens you get for hodling a particular token.
For example, when you some Parody Coins (PARO) and hodl them, you get some extra PARO in your wallet. How is this calculated? A unique reward mechanism calculates how many tokens you get. Of course, the number of tokens you will get over time depends on how many Parody Coins (PARO) you bought and how long you have held them. In fact, you can also earn money from Parody Coins in another way: an exciting rewards system can produce rewards in any BEP20 token you want!
Right now, stepping into the Paroverse might be a good move since you can earn a passive income from Parody Coin (PARO) in more ways than one.
More Information on Parody Coin (PARO):
Website: https://parodycoin.io/
Telegram: https://t.me/PARODYCOIN_OFFICIAL
Twitter: https://twitter.com/ParodyCoin
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.