How to earn passive income staking Tron
For my online business, I'm always looking to generate new and diversified income streams. For a certain time I've started to work with Tron and on the network I've found an income stream that is secure and completely passive.
Staking and voting with Tron
If you are staking tron with an exchange, I would suggest that you do the staking by yourself. With binance for example, you need to wait some time until you actually get a payout from the Tron on your account. If you stake Tron directly on the blockchain, you will get paid several times per day from the first day on.
How does staking work on Tron?
In order to be able to stake Tron, you need to own tron. You might want to have a look at this tutorial how you can create a tron account and how you can earn your first tron for free.
On the Tron blockchain, staking is called freezing. When you freeze your tron, you block them for at least 3 days. This means that you can't transfer or spend them before unfreezing them. You can freeze Tron either for bandwidth or energy. The more Tron you have frozen, the less you will have to pay for transaction costs and smart contracts.
On tronscan click „Frozen/Unfrozen“
You will be brought to the tronscan account page. You will need to scroll down a bit and find the „Freeze“ button
A window will pop up that asks you how you want to freeze your Trx. You can freeze it for bandwidth or for energy. You need to define the amount you want to freeze and the recipient address. Make sure to put there your own address. Finish the process by clicking the freeze button. You will need to wait a couple of minutes until the transaction is confirmed by the blockchain.
Vote for a Super Representative
When you have frozen Tron, not only will you get some free transactions on the blockchain but you can also vote for a super representative. The button to access the voting page is just next to the freeze button.
You can now vote for the super representatives of your choice. What you should know is that some Super Representatives share their block rewards with their voters. This means that you can actually earn money for voting certain super representatives!
The bigger the voting sharing ratio is, the more you will earn! I always try to vote for super representatives that offer a share of 80 or 100%. It is necessary to modify your votes from time to time to maximize your income.
At the end of each voting round, you will get your share from the super representative. I believe that there are 3 voting rounds per day.
How to claim your Tron from Vote sharing
On the tronscan account page, at the top you will find the field voting reward. Next to it you have a button called collect reward. You can click this button and the voting reward will be added to your wallet balance. It's possible to claim once a day.
Get compound interests
In order to earn compound interests, I suggest that you claim your voting reward regularly, freeze it and increase your vote. The more Trx you have in voting, the higher your voting rewards will be. If you reinvest these voting rewards regularly, you can actually profit from compound interests!
Tron (TRX) seems to be trending a lot these recent days and it feels the project looks really promising even though the crypto market doesn't appear to be stable some times and one of the best ways to earn more TRX is actually through staking just as you've stated. I think I may actually have to give it a try since the description is very well explained.
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead ❤️💕❤️💕❤️💕❤️💕❤️
Thanks a lot for your kind comment!
You are welcome 😊
TRON as one of the crypto assets from China launched the dApp platform, Tronbet. Through TRONbet, you can play classic casino games and get digital assets in the form of TRON as a reward or prize.
There is also the WINk platform that offers similar services. Tron is full of investing opportunities but I'm not so sure whether they are really safe.
Thanks for this post. One of the main way to make passive income on the blockchain is by staking and binance and other few exchanges has made this easy although they take their cuts. I tried this out with a token IOST before and i must confess that i enjoyed staking my coin for passive income because staking directly, i started receiving the Passive income in hours.
I also remember a time i made BitTorrent for just having tron on my wallet but i have never thoight of staking with tron, i could give it a trial.
Staking on binance is a good way to get started but I made some calculations and found out that staking on Tron itself pays way better. On Binance on the other hand you don't need to freeze your coins which is a big advantage.
Thanks for your comment!
Woow..This is some other great way to earn some passive income. I have not yet invested in Tron. With this information i am motivated to consider investing in Tron, freeze it up and collect some daily rewards of the tron tokens.
Thanks for sharing this golden Crypto-money making opportunity. I am adding it on my list. Will look through it later on and invest wisely.
Thanks a lot for your comment!
Hi @achim03
Your post is very good, I will try to join the tron later. :)
Thanks a lot for your comment!
This post has been rewarded by the Steem Community Curation Project. #communitycuration06
Thanks a lot for the curation!
This definitely sounds like an extra way to make some cash on the crypto space, thanks for sharing.
Thanks for your comment. It's quite simple and if Tron doesn't loose a lot of value, is quite safe ;-)
@tipu curate
Upvoted 👌 (Mana: 16/20 - need recharge?)
Hello dear @achim03, this is a good option for passive income, surely I will try to see how it goes.
Thank you very much friend!
Thank you for your comment. I believe it's simple way to generate some income.
Hello, how are you? How well do you tell us here, tomorrow I will try to make time to do it? I have some tron in Binance eating dust, jeejej, greetings
I exchanged some DEC into Tron. You can actually export DEC directly to tron over splinterlands. I then started to invest and money comes in every day ;-)