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The 6 best cryptocurrencies that pay out dividends

Republished by Plato

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Some of our posts may have affiliate links including this one. That means if you make a purchase I may get a commission (at no extra cost for you). To find out more about it read our Disclosure page

Every smart investor is looking for ways that they could generate a stable income by not actually doing much. By having their funds sit in an account or wallet and then see that value increase from day to day.

It is sometimes called passive income, and it can be a tremendous asset and way to increase your overall portfolio value and build out your investment for let’s say retirement or pay off your house mortgage.

Everyone wants to make money in their sleep. And here I will look into the fact what are some of the hottest crypto dividends options in 2020!

I myself am making an extra income everyday from various cryptocurrency dividend options. So I wanted to share my tips with you all!

List of 6 top cryptos that pays out dividends

1 ) Tezos (XTZ)

Tezos (XTZ) the everlasting blockchain website screenshot

One of my favourite picks and crypto that I delegate and earn income from myself is Tezos and the XTZ token.

Tezos is a smart new platform blockchain that aims to be self-evolving, fast and highly scalable.

This open-source platform like many others emerge during the ICO craze, and is one of the stronger ones that have shown to go from promise to real-world usage.

Companies and organisations over the world are currently building out new decentralised products and services on the Tezos blockchain.

And with this increased interest the potential of XTZ is increasing. You can earn dividend income by staking your tokens. Either yourself, by ‘baking’ them, or by delegating them to another node and earn income shared from that node holder.

You can stake/delegate your XTZ from Coinbase, your Ledger device, or many other popular cryptocurrency wallets.

ROI: 5-6%

Useful links:

Where to buy Tezos: Binance or Coinbase

2 ) Cosmos (ATOM)

Cosmos Internet of blockchains website screenshot

This internet of blockchain cryptocurrency is another popular staking option coin. Cosmos like Tezos focuses much on interopterability, flexibility and scalability.

And with lots of technological developments and features in place Cosmos is showing to have some genuine potential. Hence the strong interest in its cryptocurrency ATOM.

ATOM like Tezos is a form of delegated PoS crypto. You can delegate your ATOMs and start earning extra income like a form of a dividend.

ROI: 8-9%

Useful links:

Where to buy ATOM: Binance and OKEx

3 ) ICON (ICX)

ICON (ICX) connecting blockchains via smart contracts website screenshot

ICON is another ambitious blockchain platform that aims to bring blockchains together so they can speak and work together. Hyperconnect the world through interoperability and bridging these blockchains.

ICON have big plans of providing this network globally and in any sector, finance, healthcare, insurance, commercial, etc.

You can easily start earning dividends from ICON by staking your ICX in the official ICON wallet. It is easy to start and will help you make some extra income by simply holding your ICXs in the wallet.

ROI: 7-8%

Useful links:

Where to buy ICON: Binance and Kraken

4 ) Algorand (ALGO)

Algorand website screenshot

The first ‘pure Proof of Stake blockchain‘, that’s what Algorand calls themselves. And it is another interesting option that I think deserves your attention.

Similar to Tezos, Algorand aims to be free of hard forks and provide blockchain solutions to companies and organisations the world over with high scalability, smart contracts and true decentralisation.

The potential use cases of Algorand spread across sectors and forms. From DEXs to securities and tokens, to new dApps.

You can stake your ALGO tokens from an Algorand wallet or directly from popular exchanges like Binance.

ROI: 5-6%

Useful links:

Where to buy ALGO: Binance and Huobi

5 ) Blocknet (BLOCK)

Blocknet (BLOCK) website screenshot

Blocknet is a PoS blockchain with its native token BLOCK at the heart of its functions.

The Blocknet protocol aims to be fast and highly scalable. And like Cosmos it aims to bring blockchains together in a more collaborative environment.

With its platform, DEX and high-functioning node system Blocknet is getting lots of attention.

And it can prove to be a lucrative investment for holders that wants to earn extra income by staking their BLOCK.

ROI: 3-5%

Useful links:

Where to buy BLOCK: Bittrex

6 ) Aion (AION)

Aion (AION) blockchain website screenshot

AION or the Open Application Network is another form of platform blockchain. And another potential crypto that you could invest in to start earning dividends from.

With the Open Apps technology Aion aims to make it possible to connect existing apps with new developed apps on the Open App protocol.

Similar to the other blockchains on this list, working together is the keyword. For services or products built-in or outside the blockchain space.

ROI: 3-6%

Useful links:

Where to buy AION: Binance and KuCoin

Bonus crypto dividends mentions

Binance lending/savings account options

Some other interesting ways of earning extra income from cryptocurrencies is via crypto lending and savings.

What are crypto dividends?

What is a dividend?

A dividend is the distribution of a portion of the company’s earnings, decided and managed by the company’s board of directors, and paid to a class of its shareholders. Dividends may be paid out as cash or in the form of additional stock.

The Investopedia’s definition of dividends

So in the world of stocks that means you own shares. And often yearly the company pays out a part of their earnings to every stockholder.

So how does that translate to the world of cryptocurrencies? Because there is no direct translation of stocks to cryptocurrency dividends.

As the tokens and coins of the cryptocurrency world don’t exactly work like stocks. But there are similarities between the stock world and the crypto world:

  1. It is possible to earn an extra income from cryptocurrencies from Proof of Stake and Proof of Work cryptos much like dividends for stocks
  2. You can also engage in crypto lending and savings with some cryptocurrencies right now
  3. There’s a possibility for token holders to engage with the project and vote for future changes similar to a stockholder’s rights
Best crypto dividends coins to invest in

How can you earn dividends from cryptos?

So to earn extra funds from cryptocurrencies you can either:

  • Start mining cryptos, like Bitcoin and other Proof of Work coins
  • Staking cryptos, hold your coins or tokens in a wallet and earn extra income from high-paying Proof of Stake cryptos

So with that in mind, I wanted to share with you my list of top picks for crypto dividends tokens and coins to buy and earn extra income from!

  • NOTE: These coins and tokens are mix of different cryptocurrencies that can generate an extra income much like dividends for stocks

Conclusion – best crypto dividends options

So here we have it, a bunch of interesting cryptocurrencies that you could invest in and start earning dividends from. I myself use several of these methods. So I can reassure you they are trialed and tested.

And not only be me, but by other crypto holders around the world. Who take advantage of these income generating opportunities to increase their overall portfolio.

What is your favourite crypto dividend option? Are you using any on this list? Or do you own another crypto that pays out a form of dividend?

Share this article with others so more can earn income from crypto!

Find other guides

  1. Best way to invest in crypto
  2. Bitcoin investing guide
  3. Buy Bitcoin with a credit/debit card
  4. Award-winning trading platform PrimeXBT
  5. Popular exchange Kraken’s top alternatives

Source: https://gocryptowise.com/blog/cryptocurrency-dividends/

Blockchain

Opimas estimates that over US$190 billion worth of Bitcoin is currently at risk due to subpar safekeeping

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May 2021. Safekeeping of cryptocurrencies presents a challenge for institutions holding cryptocurrencies on their clients’ behalf. Cryptocurrency transactions are irreversible and anyone with full access to a wallet’s private key controls the cryptocurrencies that reside within it. Frighteningly, a number of institutional participants and even some large cryptocurrency exchanges rely on subpar custody approaches, leading Opimas to estimate that over US$190 billion worth of Bitcoin is currently at risk due to subpar safekeeping.

Luckily, a number of companies have emerged to address this problem. A new research report from Opimas—Crypto Custody: No More Excuses, authored by analysts Suzannah Balluffi and Anne-Laure Foubert—looks at the landscape of cryptocurrency custody-enabling technology providers and institutional-grade cryptocurrency custodians as well as the size of the market for cryptocurrency custody and brokerage services.

Some key findings in the report include:

Many of even the largest holders of Bitcoin and other digital assets continue to rely on storage devices meant for individual investors. Although some of these self-custody devices and wallets are secure and reputable, the operational risk posed by this approach is significant for institutional investors. Furthermore, a chunk of institutionals’ cryptocurrency holdings sit in hot wallets on exchanges. In total, about 22% of institutional cryptocurrency holdings are safeguarded in these relatively risky manners (Figure 1).

Figure 1. CUSTODY METHODS UTILIZED BY INSTITUTIONAL INVESTORS 

 

Source: Opimas analysis.

There are no more excuses for lackadaisical safekeeping – institutions can now choose from several reputable cryptocurrency custody-enabling technology providers and institutional-grade cryptocurrency custodians. Yet no custody solution is equal – there is still no best practice when it comes to security and governance relating to private keys. For example, some providers may rely on time-tested Hardware Security Modules (HSMs), while others use a newer technology known as Multi-Party Computation (MPC) – see Figure 2.

Figure 2. A COMPARISON OF HSM AND MPC TECHNOLOGY PROVIDERS

Source: Ledger, Fireblocks, Opimas analysis.

Some cryptocurrency custodians have followed in the footsteps of traditional capital markets by adding prime brokerage services to their offerings, including trading and settlement, lending, margin finance, staking, reporting, and capital introduction services. Opimas estimates that the current annual revenues generated by the institutional crypto brokerage and custody market are roughly US$2 billion and will grow to nearly US$8 billion by 2026 – a sizeable portion of this coming from brokerage services (Figure 3).

FIGURE 3. THE MARKET FOR CRYPTO CUSTODY & PRIME BROKERAGE SERVICES IS GROWING 

Source:  Opimas analysis. 

  • Regulations surrounding institutions’ ability to store cryptocurrency have become clearer (and in some cases more favorable) in numerous jurisdictions. Notably, the Office of the Comptroller of the Currency (OCC) ruling in the US has allowed banks to store cryptocurrencies for their customers. This regulatory clarity has led a number of financial institutions around the world to provide trading and custody for digital assets. With the advances in brokerage and custody solutions, Opimas expects institutional cryptocurrency holdings to grow from 20% of the cryptocurrency market cap to over 50% by 2026 (Figure 4).

FIGURE 4. INstitutional cryptocurrency holdings over time 

Source:  Opimas analysis.

Source: PlatoData Intelligence

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Blockchain

Bitcoin (BTC) Price Prediction: BTC/USD Faces Rejection Thrice at the $60,000 Resistance Zone, Resumes Downward Correction

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Bitcoin (BTC) Price Prediction – May 9, 2021
Bitcoin bulls have broken above the $58,000 resistance but the bullish momentum could not be sustained. Today, BTC/USD traded as price reached the high of $59,450. The king coin is likely to retrace to $57,000 low if the bulls fail to break the $60,000 psychological price level.

Resistance Levels: $65,000, $70,000, $75,000
Support Levels: $50,000, $45,000, $40,000

BTC/USD – Daily Chart

Bitcoin price was rejected thrice at the $60,000 resistance level. Buyers made frantic efforts to sustain the bullish momentum above the recent high but were repelled by overwhelming selling pressure. Consequently, Bitcoin has resumed a downward move as a result of a strong rejection at the resistance of $59,200. The current retracement will extend to the low of $57,000. Nevertheless, if price breaks below the $57,000 support, the market will continue the downward move. That is, the selling pressure will extend to the low of $53,000. On the upside, if price retraces and finds support above $58,000, the upside momentum will resume.

Bank of England Governor Warns on Crypto Investment
Andrew Bailey is the governor of the Bank of England who has warned crypto investors of the inherent dangers of cryptocurrency investment. The governor argued that cryptocurrencies lacked intrinsic value. According to him, “I would only emphasize what I’ve said quite a few times in recent years, [and] I’m afraid they have no intrinsic value. I’m sorry; I’m going to say this very bluntly again: Buy them only if you’re prepared to lose all your money.” Bailey’s comments are coming at a time when crypto markets are characterized by a huge spike in crypto prices. Major altcoins such as Polkadot, Chainlink, and XRP have also seen vertical price actions.

BTC/USD – 4 Hour Chart

Bitcoin risks another downward correction as the king coin faces stiff rejection at the $59,450 resistance. The Fibonacci tool has already indicated a marginal upward move of Bitcoin and a possible reversal. On May 1 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Bitcoin will rise to level 1. 272 Fibonacci extension or the high of $59,819.90. From the price action, BTC price has reached a high of $59,450 and has commenced a downward move.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://insidebitcoins.com/news/bitcoin-btc-price-prediction-btc-usd-faces-rejection-thrice-at-the-60000-resistance-zone-resumes-downward-correction

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Blockchain

Dogecoin dumps following mention from Elon Musk on Saturday Night Live

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Meme cryptocurrency Dogecoin finally got its long-awaited shoutout on Saturday Night Live — but despite hodler hopes, the immediate result has been a violent dump.

First teased by entrepreneur and DOGE cheerleader Elon Musk in late April, the Tesla CEO finally mentioned the digital asset on live television tonight in his opening monologue of the sketch comedy show. The reference was a throwaway line from Musk’s mother, who joined him onstage and asked if her Mother’s Day gift would be Dogecoin; Musk replied that it would be. 

In the minutes afterwards, $DOGE dumped upwards of 25%, falling as low as $.50 from $.66 highs at the start of the show. It has since partially recovered, trading at $.52 at the time of publication.

An hour before the episode began, the price of DOGE sat at $.66, down from an all-time high of $.72. A pair of bearish headwinds may have shared responsibility for the pullback: Musk himself seemed to try and get ahead of the hype, urging followers in a Tweet to “invest with caution,” and a host of new data indicates that many investors may be rolling their DOGE profits into other, largecap digital assets

Additionally, Barry Silbert — the founder and CEO of Digital Currency Group, the parent company of crypto investment vehicle company Grayscale — announced a public short on DOGE via the FTX exchange. In a series of follow-up Tweets, he revealed that the position was $1 million in size, and that any proceeds or remaining funds after closing the short would be donated to charity. 

(It’s unclear if Silbert was is using “we” in reference to Digital Currency Group, one of its portfolio companies, or is simply and bizarrely using a plural pronoun in reference to himself). 

Many DOGE investors were nonetheless holding out hope for a high-profile shoutout on what looked to be a major pop culture event. NBC, the studio behind SNL, chose for the first time ever to live-stream the episode on Youtube, per the Wall Street Journal.

Even a mention could have significant impact on the price of DOGE as well: the meme currency has proven to be susceptible to price movements based on positive social media volume, and multiple studies have shown that Tweets from Musk often lead to price appreciation. A mention on an even bigger platform was thought to potentially lead to even greater gains. 

Leading into the premier of the episode, Alameda Research trader Sam Trabucco (who said in a previous Tweet that he was “studying the typical SNL episode structure to try and understand when a DOGE mention would be the most natural”) speculated that if a joke or mention didn’t come in Musk’s opening monologue, it would be “all over.”

Despite arriving during the monologue, traders nonetheless responded negatively. It remains to be seen if a DOGE-centric skit later in the show can perhaps turn the speculative asset’s fortunes around.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/dogecoin-dumps-following-mention-from-elon-musk-on-saturday-night-live

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