Welcome to another episode of my New SmartBCH Journey!
If not all, perhaps most of us love to stake some of our crypto tokens and it is probably our favorite source of passive income as we don't have to do much work to let our money work for us. We just have to set things up and then the money will just flow in already.
As a person who doesn't have much patience to trade and watch charts to gain profits, I consider staking as the best and most steady way for me to reap some earnings even if I am out of the crypto world and just watching Korean series in the K-drama world.
Some time ago, I have written an article titled "Staking Daiquiri Token on Tropical Finance" and I have shared there that I bought some Daiquiri Tokens for a total of 0.1 Bitcoin Cash worth for the 274 Daiquiri to stake in the single staking pool of the token under its Decentralized Exchange called Tropical Finance. After I bought and staked the tokens, I just let them sit there and do their work and only monitored them once in a while to see if it's still earning or not.
And it's been 2 weeks already when I staked the tokens on the pool and I'm amazed to see that it has already generated a total of 140.9 Daiquiri tokens, which is currently worth $37 for its price of $0.26 each. So I immediately harvested the earned tokens as I'm planning to sell some of them to recover my initial investment in Daiquiri.
Meanwhile, after I got back my initial investment in Celery, I decided Letting the CLY Profits Grow by staking the left Celery tokens I have from my profits in the single staking pool of the Tropical Finance to earn some Daiquiri as an additional passive income.
I originally staked a total of 18,000 CLY Tokens but because of the 4% deposit fee, I only got 17,280 CLY left in the pool. And after almost 2 weeks of staking the tokens in the pool, I am delighted to know that I already earned a total of 40.92 DAIQUIRI tokens valued at $10 on its current price. I also harvested the earned tokens already to add them to some of the tokens I am going to sell.
And after approving the Daiquiri on the Tropical Exchange, I decided to sell the 81.8 Daiquiri tokens I earned for 0.0505 BCH to recover half of my initial investment in buying Daiquiri tokens before and also to recoup the 4% deposit fee of the Celery tokens I staked.
On the other hand, I staked the remaining 100 Daiquiri tokens that I harvested on the pool to grow the number of Daiquiris working for me. In my next harvesting season, I will sell 0.05 BCH worth of Daiquiri tokens again from the earnings on the pool to recoup all of my initial investment and to just let the profits do their work.
While the earnings are not as impressive as when you just trade a highly volatile token in the SmartBCH network, staking is still profitable for me and it's honest work too. By staking, I also get to add a small chunk of BCH to my portfolio.
Cheers to staking for passive income!
Follow My New SmartBCH Journey:
Buying SmartBCH Tokens on Metamask
The Wonders of Wojak and $Fatcat tokens
Staking WBCH-sBUSD LP Tokens to earn some Mist
Staking Daiquiri Token on Tropical Finance
Farming DogeBCH and Wojak for more Mist
My SmartBCH Tokens that are still at a lose
I'm also staking Daiquiri and earn money.. Yahoo passive income just makes my day awesome