Generate Passive Income With KuCoin — Part 1: Tips and Tricks
KuCoin is a platform offering a diverse selection of passive income opportunities with crypto. These opportunities come in the form of financial products with competitive interest rates and additional rewards. A lone factor in common between them? For you, they carry out the earnings.
In this blog post, I will share with you Tips & Tricks on how you can earn passive income using KuCoin products!
KCS Bonus is a reward you receive from KuCoin for keeping KCS on its trading platform. You aren’t there to stake anything; you only need to own and hold a KuCoin token.
Tips & Tricks:
> Hold/Get at least 6 KCS in order to get a 20% discount on all exchange fees and share 50% of the daily transaction fees with other KCS holders.
> Hold/Get KCS as much as you can because the more KCS you hold, the bigger the bonus you will receive. Therefore, each day you will earn a portion of the total trading fee that has been paid to the exchange if you keep KCS in your account.
> Hold/Get at least 1000 KCS to be eligible for a fee discount. The maximum discount is 30% for 30,000 KCS.
It is important to remember that you have to hold at least 6 KCS in order to get a KCS bonus. Typically the Bonus is released each day at 2:00 AM Singapore time. KCS is currently trading at KCS = $6.56/USD
2. Lending
Lending is one of the easiest ways to earn passive income on the KuCoin platform. All you need to do is deposit your cryptocurrencies into a lending platform and they will loan them out to borrowers. The interest that the borrowers pay will be paid back to you in the form of cryptocurrency.
Tips & Tricks:
> If you feel uneasy about leaving your cash sitting around in a bank with a low-interest rate, you can deposit crypto on your crypto wallet and once you activated the KuCoin crypto lending functionality, you will automatically earn interest on your crypto based on the amount you have in your wallet.
> If you are worried that offloading your crypto, there’s a risk that you’ll end up with less bitcoin when you buy it back at a later date, what you can do instead is to lend it to users who need to borrow funds. Once the transaction is matched, the borrower receives the money which means that you will earn the interest you set. At times rates of return can go pretty high, with an APR of 40%+ at the moment for USDT.
3. Staking
Staking is another excellent way to earn passive income on the KuCoin platform. It is an activity where the holder of a crypto asset locks their coins in order to participate in the process of validating new transactions.
Tips & Tricks:
> Let’s say you have HYDRA tokens and you don’t want to sell any of these because you’re confident that the values are going to increase substantially, you can stake them to get 47% APR or KSM to gain 10% APR via KuCoin Earn. This gives you staking benefits in addition to making a contribution to the network.
> Another thing, if you are a huge holder of KCS/USDT/ETH and also POL, BurningDrops and Lockdrops might be a good opportunity for you. These are other staking products where you can receive a portion of a new token that’s to be listed on KuCoin. With a locking period of at least 20 days and you’ll receive the token present and also the token you have staked. You can also “Burn” your POL tokens to increase your earnings.
> With the introduction of Dual Investment, a new staking product from KuCoin Earn, which gives a huge opportunity for stakers to a higher yield staking. It might be tricky for new users so I suggest keeping researching it before trying it out.
The Takeaway
KCS Bonus is where I can easily generate passive money among the three KuCoin Products described above. Because I have a lot of KCS, it stands to reason that the bonus is accruing daily. How about you folks, which KuCoin items would you suggest to new KuCoin users?
