Join 100,427 users already on read.cash

Making Passive Income from Layer 2 Hive Tribe Tokens!

6 38
Avatar for Idksamad7869
Written by   523
4 months ago
Topics: Passive, Income, Layer 2, Tokens, Hive, ...

12-09-2022

In this era people make living out of passive income making money when they're sleeping or partying in clubs without putting any efforts into it.

Scientifically living your life without putting efforts into anything still making anything is only possible when you had made and put every possible efforts in the beginning.

Nothing comes naturally in your way unless you make a way for yourself.

So person always need to work his dash off before he reaches to a point where money comes in his way.

In crypto verse passive income is a way to make money while you're resting or doing anything else - Remember there's possible high chances of becoming passive income of someone else only when you're farming and providing liquidity but incase of Layer two tribe tokens of hive we don't need to provide liquidity still making Passive income or I would say Growing your portfolio of layer 2 tokens.

Keeping Tribe tokens in Cold wallet

I doubt there are people in here who don't know what tribe tokens are but those who are on hive knows it very well and they're earning it using tags in their posts or posting in specific community and some (newbies) still don't know what to do with them.

Tribe Tokens are basically Layer two tokens like BCH has smart contract known as SmartBCH and we trade Sep20 tokens just like those hive also have tribe tokens.

Though Tribe tokens remain in people cold wallet so instead letting them rest in wallet in this topic I'll share an easy way how you can make passive income staking tribe tokens.

Let your tribe tokens work for you instead of letting them sit in the wallet doing nothing.

Make Passive income from tribe Tokens

Passive income sounds very Good and there's many way to do so such as Renting your Game NFT to someone else, through farms on Dex (if exist) by providing liquidity and also by staking simply. thing's work for you and earn you some money.

We are talking about tribe tokens so the safest option i know to make passive income is "Stake" them and leave.

You might know how to stake but lot's of newbies don't know so I'll make things lot easier for them telling different ways to stake tribe tokens.

Stake token in Hive Engine

This is for people on hive who use PeakD Frontend.

by following these simple process shown in screenshot you can stake tribe tokens.

Go to > Wallet and Click on the arrow it will show Hive engine and exchanges or other options but you need to click on "Hive engine".

Hive engine will show your all tokens whether Staked, liquid, value of token etc.

If you want to stake a specific token you can clearly see in screenshot.

Staking Tribe tokens "One by One" Will consume too much time and each action we are taking on Blockchain also drain resource credit even clicking on "mark as read" Notification counts.

Stake All tribe tokens in one click

A tool known as Hive multi staker exist in hive to claim, stake or unstake all hive engine tokens in one click and tool name is Hive multi staker.

All you need to do is "Enter your Name" or to use this tool you'll need hive signer or hive keychain.

Choose what you want from following options:

  • Claim rewards

  • Stake tokens

  • Unstake tokens

i want to stake all tokens in 1 click and it took just a second.

Only Choose "Select all" and "Stake them now".

will redirect to hivesigner or keychain to confirm tranaction and that's it - Your all tokens has been staked in one click. Being a newbie (not so) The terminal is the place where i got to know about this and I'm learning new things everyday.

Stake hive engine Tokens on Ecency

Ecency is best choice and front end for a newbie and it's kind of my favorite place because it make things easier for newbies on hive and also Support or encourage them.

web version of Ecency supports hive engine token but it's not available on App yet.

Follow this process to stake tokens using ecency:

It's almost same process as PeakD > Engine tokens is avail in wallet.

Click on this lock and put balance to "Stake" its simple - no big deal and other two options beside are for delegating token to other or transferring them.

Claim your rewards - passive income

Reason why i prefer to use ecency is it is so user friendly and make thing lot of easier.

It's a kind of human nature to be curious or keep checking progress and in ecency whenever there's a reward it will show "unclaimed rewards" so it's easy to end curiosity or claim and stake them again.

Fin.

That's all I want to say today and hopefully you had learn something new. Do let me know who's in hive so I can see my homies on Hive.

Quite busy routine of mine, The college is happening again from tomorrow and the whole day spent for doing preparations. So yea, kind of a new beginning and life taking a new turn.

18
$ 4.66
$ 4.15 from @TheRandomRewarder
$ 0.11 from @pajeroz
$ 0.07 from @Captainkay
+ 10
Sponsors of Idksamad7869
empty
empty
empty
Avatar for Idksamad7869
Written by   523
4 months ago
Topics: Passive, Income, Layer 2, Tokens, Hive, ...
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

I see many people use Hive too, i think also to join Hive but it's impossible to engage the hive with such messy or busy routine

$ 0.00
4 months ago

I can understand. Though even my routine is messy or too busy now.

$ 0.00
4 months ago

Soon I will also do some staking in Hive, and thank you for this tutorial.

$ 0.00
4 months ago

Oh, Glad to hear this. Thank you!

$ 0.00
4 months ago

This is interesting. I still do not know most of what you have explained here especially getting to know hive multi staker from you. I haven't heard of it and now, I learnt something from you.

Thanks for the guide too.

$ 0.00
4 months ago

Glad you found it interesting. You can ask me I'll try to explain what you didn't Got and Happy to hear you came to know about this tool and learnt something.

Thank you for lovely comment!

$ 0.00
4 months ago