POS Mining
POS coins
One strategy that I'm using to generate passive income is collecting proof of stake coins. The definition of proof of stake concept states that a person can mine of validate block transactions based on how many coins he or she holds. So the more coins you hold the more block transactions you can validate thus the more coins you can produce and you make more money 💰
The first crypto currency to adopt the method was peercoin.
I'm currently holding proof of stake coins redd coin, and hyperstake.
I currently have 7671 redd coins. I originally paid $67.00 for those coins approximately two weeks ago. When I checked yesterday my coins were valued at $74.00. At one point my coins were valued at$87 when bitcoin was higher. I'm currently producing 2-3 coins a day. That doesn't sound like allot but to me its like dividends in stock. With stock you get a dividend payout quarterly. With pos you get paid multiple times per day possibly.
I also have 5199 hyperstake coins. I have a local wallet that I store pos coin on my pc. I have been holding hyp coin for approximately two weeks and my estimate says that I have collected 1000 coins in that two week time span. I'm very new to the local storing of coin and pos so I'm not sure if I'm doing everything correctly and optimizing my gains.
Another coin that I hold that's not defined as a proof of stake coin is neo. Neo coin pays you gas coin while you hold neo coins its more like a dividend.
I definitely think that pos coins are the way to go. For a very small investment the investor gets a consistent return. Some of the cites that I used to research have said that redd coin has a annual return of 5% per year. The annual return on hyp was listed at 750%. These numbers would also depend on the price of bitcoin I bet. I will continue to post on my progress with pos mining and give my actual numbers as they become available.
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gracias
really great article! Here's another project I find really interesting! Link here
Ok thank you I will check it out.
The value of redcoin has gone down with bitcoin. The value of my reddcoins are now $57.00.
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