Due to the open-source nature of the blockchain, new cryptocurrencies have emerged with new value-adding features for their holders. One of these features is the ability to receive dividend-like payments.
For example, Proof of Stake (PoS) cryptocurrencies pay “interest” to their holders for staking their coins to secure the network. Moreover, some digital tokens issued by exchanges pay their holders a share of their trading fee income.
Here’s a look at the ten best dividend-paying digital currencies and tokens that you can invest in to earn passive income as a cryptocurrency investor.
Top Dividend-Paying Cryptocurrencies
VeChain (VET) – Score: 4.5
VeChain operates as a platform for smart contracts, similar to NEO and Ethereum. However, unlike those platforms, VeChain pays “dividends” in the form of VTHRO coins.
The payout is at a rate of 0.00042 VTHOR tokens per day per staking of 1 VET. Dividends can be received either on a monthly basis or every second. For a 365-day year, the dividend rate per 1 VET is 15.33% in VTHOR tokens.
NEO (NEO) – Score: 4.5
NEO – formerly known as AntShares – is one of the most popular blockchain projects in the market, often dubbed the “Chinese Ethereum.” NEO token holders can receive up to 5.5 percent “interest” per annum for staking their tokens. Payments are received in the NEO blockchain’s second token, NEOGas.
Unlike other Proof of Stake (POS) coins, NEO doesn’t require you to keep your staking wallets constantly open to receive dividends. GAS coins can only be claimed in certain wallets, so be sure to research wallets if you plan to earn dividends by staking NEO tokens.
Decred (DCR) – Score: 3.5
Decred is an autonomous digital currency that was launched in 2016. Decred uses a hybrid consensus mechanism model composed of Proof of Work and Proof of Stake to secure the network. As a result, DCR holders who stake their coins can earn up to 30 percent “dividend” per annum.
Komodo (KMD) – Score: 3.5
Komodo was launched in 2016 as a privacy-centric digital currency that leverages Zero-Knowledge Proofs to enable users to make private financial transactions. The Komodo platform also enables startups to launch dICOs (decentralized ICOs), a decentralized exchange, and blockchain development solutions.
Moreover, Komodo holders can receive up to 5 percent “interest” per annum by having more than ten KMD in their wallets. Unlike pure staking, holders don’t need to keep their wallets open at all times. They just need to hold KMD in a wallet and move it around yearly.
KuCoin Shares (KCS) – – Score: 3.0
KuCoin Shares is an ER20 token that was launched by the Hong Kong-based digital currency exchange KuCoin. KuCoin holders can receive “dividends” – in the form of different digital tokens – as KuCoin distributes 50 percent of its trading fee revenues to its token holders.
As trading fee revenues depend on fluctuating trading volumes, “interest” payments vary each month.
PIVX (PIVX) – Score: 3.0
PIVX (Private Instant Verified Transactions) is a privacy-focused digital currency that was launched in 2016 as a code fork of Dash to provide users with anonymous financial transactions using its “sub-currency” zPIV.
PIVX uses the Proof of Stake Zerocoin protocol which enables users to stake their coins to secure the network. As a reward, users who stake their coins will receive new PIVX coins that amount to around 4.8 percent interest per annum. Wallets must be open and online for a specified amount of time in order to earn staking rewards.
Reddcoin (RDD) – Score: 3.0
Reddcoin was launched in 2014 to become the digital currency of social media.
Reddcoin allows Reddit and Twitter users to tip content creators in digital currency if they like their content. Moreover, Reddcoin holders can stake their coins to receive up to 5 percent “interest” per annum thanks to Reddcoin’s PoS consensus algorithm.
NAVCoin (NAV) – Score: 2.5
NAVCoin was launched in 2014 to add privacy to digital currency transactions. Through its dual blockchain system, NAVCoin users can make anonymous financial transactions on the NavTech subchain. It uses PoS and is based on Bitcoin’s core code. Moreover, NAVCoin holders can earn up to 5 percent “dividend” per annum for staking their coins and there is no cap on staking.
Neblio (NEBL) – Score: 2.5
Neblio is a distributed computing platform for enterprise blockchain applications and services that was launched in 2017. NEBL holders can receive up to a 10 percent “dividend” per annum by staking their coins thanks to the Neblio network’s proof of stake protocol.
BitMax (BTMX) – Score: 2.5
BitMax is a Singapore-based exchange established in 2018. BitMax shares 80% of net transaction revenues with investors in its BitMax token, offering one of the highest payout rates among comparable exchanges. By locking your BTMX token, you become eligible to earn income in USDT.
While the APR will vary based on the exchange’s results, past rates have reached the 35-50% range. BitMax pays “dividends” daily based on the number of tokens held by an investor.
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Coinbase CEO Brian Armstrong Urges for Fair Crypto Regulations
Ahead of the long-anticipated public listing for his company, Coinbase’s CEO Brian Armstrong asserted that US regulators are wrong in believing cryptocurrencies are primarily used for illicit transactions. He added that the industry wants to be treated on the same playing field as traditional finance when it comes down to legislative frameworks.
Armstrong on Crypto Misconceptions
The belief that digital assets are mainly used for illegal transactions has been going on for years, perhaps since bitcoin’s usage in some dark web marketplaces starting almost a decade ago. Regulators have used it as a good bashing point, and US-based watchdogs have been at the forefront of those attacks.
US Treasury Secretary, Janet Yellen, has repeatedly outlined the alleged massive usage of bitcoin and other cryptocurrencies for terrorist financing, Ponzi schemes, buying illegal goods, and everything in between. Naturally, the Treasury’s FinCEN department proposed quite restrictive legislation, which, however, has been indefinitely postponed.
Brian Armstrong, the CEO of the largest US-based crypto exchange preparing for its direct listing today, touched upon these concerns during a CNBC interview. However, he asserted that cash and even the highly-regulated banking sector are more frequently utilized in illegal transactions than crypto.
He referred to a report published today by the recently launched Crypto Council for Innovation indicating that “less than 1%” of all digital asset transactions have illicit roots. Simultaneously, PwC estimations showed that the percentage is more than 4x higher with the traditional economy, and more specifically cash.
“The data we have just indicates that crypto is really not uniquely crime written. In fact, the data suggests it’s better than cash in that regard.”
Treat us Equally
Armstrong further outlined the significance of adequate regulation for his company, especially now that it will become public, but also for the entire industry. He suggested that the US should treat the crypto space as other financial sectors.
“We want to be treated on the level playing field with traditional financial services at the very least and not have any kind of punishment for being in the crypto space.”
He also joined Kraken’s CEO, Jesse Powell, saying that the world’s largest country by nominal GDP risks falling further behind other nations, such as China, in terms of crypto and blockchain adoption.
“China has really embraced cryptocurrency and blockchain in a big way – starting from about six years ago. They are substantially far ahead.” – Armstrong added.
MakiSwap Raises $1.4M to Build AMM Platform on Huobi Eco Chain
[Press Release – St, John’s Antigua, Barbuda, 14th April, 2021]
MakiSwap, the number one decentralized exchange on Huobi Eco Chain (Heco), has raised $1.4 million in seed and private funding to build the most robust and feature-rich automated market maker exchange and yield farming platform on Huobi Eco Chain.
The oversubscribed round was led by Inclusion Capital, which incubated and supported MakiSwap in its development efforts. Other participants include Kenetic Capital, LD Capital, NGC Ventures, Polygon Network, DAO Maker, Momentum 6, AU21 Capital, Xend Finance and others. Jawad Ashraf, Founder of Terra Virtua, also joined the round as an individual investor.
MakiSwap is the leading AMM on Huobi Eco Chain, a high-performance blockchain supporting the Ethereum Virtual Machine. Heco was launched by the Huobi Global exchange and was met with formidable community support in China and the Asia-Pacific region. Heco projects are now shifting their focus to the global market, looking to bring in DeFi users from other regions and other blockchains.
MakiSwap was developed by Unilayer, a cross-chain DEX aggregator and DeFi ecosystem. The exchange offers unique features for an AMM designed with the professional trader in mind, including limit orders, advanced charting tools, analytics, and more. MakiSwap also features lucrative yield farming opportunities designed to incentivize users to make the jump into the new protocol and blockchain.
“We’re extremely excited to launch MakiSwap on Huobi Eco Chain and to the public, we do see a big potential for HECO to capture a lot of market share compared to other blockchains in the near future,” said Geo, Founder of Unilayer and MakiSwap.
“Makiswap is leading a new wave of Defi by empowering Huobi’s ECO chain community with key tools and infrastructure. We are excited to support Makiswap in helping to transform global finance through Defi.” Jehan Chu, Founder and Managing Partner, Kenetic
MakiSwap is powered by the MAKI governance token, which will be airdropped to holders of Unilayer’s LAYER token on Ethereum and Binance Smart Chain.
MakiSwap is the leading AMM exchange on Huobi Eco Chain, developed and launched by Unilayer, a cross-chain liquidity aggregator and unified interface for decentralized exchanges. MakiSwap’s governance token is MAKI, distributed fairly to all holders of Unilayer’s LAYER token. MakiSwap includes an advanced set of features like limit orders and advance charting to offer the best experience for professional DeFi traders.
The Message Coinbase Embedded in Bitcoin’s Blockchain on Listing Day
Paying homage to Satoshi Nakamoto and his message embedded in the Bitcoin Genesis Block in 2009, Coinbase has done the same today. On the day they’re set to become a publicly traded company, the exchange asked a large Bitcoin mining pool to embed a note in the Bitcoin blockchain in regards to the latest stimulus bill.
- When launching the Genesis Block of the first-ever cryptocurrency in January 2009, the anonymous creator(s) embedded the following message referring to the financial crisis at the time:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
- More than twelve years later, Coinbase has followed the example set by Bitcoin’s creator. The exchange announced they had asked the mining pool F2pool to code the following text:
“TNYTimes 10/Mar/2021 House Gives Final Approval to Biden’s $1.9T Pandemic Relief Bill.”
- The commonalities between the two messages spread more than being embedded on the Bitcoin blockchain. Both have referred to the economic struggles in 2009 and 2021 led by the aforementioned banking crisis and the COVID-19-induced crisis.
- More specifically, both messages have touched upon the governments’ somewhat controversial measures in trying to fight the consequences of the fallouts. Coinbase’s note cites this article published by the New York Times, which outlined the latest stimulus package aimed to alleviate some of the financial pain from the pandemic.
- The largest US-based crypto exchange has chosen today to pay homage to Nakamoto because of the significance of this day. As previously reported, Coinbase is set to become a publicly traded company on August 14th, 2021, through a direct listing.
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