Get Started in Cryptocurrency
Coinbase Is used to Purchase Cryptocurrency
Off Line Wallets are to Keep Your Cryptocurrencies In Your possession and Safe
(Remember, "If You DONOT Hold It In Your Possession... You DONOT Own It !)
Earn Crypto Passive Income: TOP METHODS Revealed!! by Coin Bureau https://youtu.be/Sqo0pOd4dnI
Screen Capture NOTES from the video
These are basically lending services that offer deposits and loans on a centralised platform. Those who deposit their crypto earn interest on those funds
So, it's pretty similar to how it works in a bank account. These services will hold your crypto and lend it out to generate interest. This interest is then paid to you in your account on a daily basis
The main difference here though of course, is that all these crypto loans are heavily collateralised. That means that the amount of funds that borrowers can loan is always less than the value of the crypto
Unlike term deposits in bank accounts, you do not have to tie your crypto up for a certain period of time. With most lending platforms, you have access to your funds anytime
Instead of a centralised lending platform matching lenders & borrowers, you have a set of smart contracts. Smart contracts that will adapt interest rates based on the supply & demand
What's important to understand about DeFi is of course the fact that you are in full control of your keys at all times. There are no platforms which can restrict you from earning interest and no KYC
All you need is a Web 3.0 wallet that can connect to these lending dApps and you can start earning interest. These lending contracts accrue interest continuously which means that the impact of compounding is likely to be considerable
Liquidity Mining / Yield Farming
Liquidity mining is the practice of supplying liquidity to a protocol which is then used in order to facilitate the decentralised exchange of different assets
You can supply USDC & ETH to a USDC-ETH pool and you will then get what is termed a 'Liquidity Provider' or LP token.
These tokens then represent your share in the pool These fees vary based on the amount of trading volume that is going through these pools. There is also another thing that you have to consider when supplying liquidity to AMMs like this and that is the threat of impermanent loss
Yield Farming can be quite complicated to engage in. However there are protocols and platforms that allow you to automate it
You are staking your coins in order to help maintain the decentralised consensus essential for blockchains to function
The main benefit of staking is that not only are you helping to take part in securing the network, but you are also earning decent returns in-kind of the coin or token you are most bullish on
When it comes to this staking, you have a number of different options. This would depend on whether it was a pure proof of stake or a delegated proof of stake blockchain.
When it comes to staking on these blockchains, there are a number of things you have to consider:
Sign up with...