How Much Crypto Can You Earn From Staking With an AVADO Device?
AVADO’s range of devices gives you easy access to a wealth of exciting web 3.0 applications, as well as the opportunity to earn money staking on various cryptocurrency projects. With just one plug-and-play device, users can stake multiple tokens and earn crypto in the way that they best see fit. As a result, how much you’ll be able to make with your AVADO device will ultimately depend on the projects you choose to stake and interact with.
What is staking, and how can I earn a passive income with my AVADO box?
Many of the world’s leading cryptocurrency projects are decentralized. At their core, they operate without a central authority such as a bank and instead give power directly to users themselves. As a result, these networks need an objective way to verify that transactions are legitimate and that users act in a way that benefits the network rather than harms it.
Most crypto projects have their unique approach to tackling this issue. Generally, projects considered Proof of Stake (PoS), Delegated Proof of Stake (DPoS), or some variation of these terms essentially enlist users’ devices as tools to confirm the legitimacy of transactions.
To ensure that these validators who are helping the network stay decentralized act in everyone’s best interest, many networks require that the user has a stake in the network itself.
Take Ethereum 2.0 as an example. In this instance, the network only allows users who have at least 32 ETH to run a validator. That way, the network is confident that the validator is acting in everyone’s best interest. After all, the staker would not want to hurt their funds. Importantly, the actual minimum amount for staking or serving as a validator depends on the rules set by the specific network.
Some projects also have a minimum amount of time that a user will need to lock up their stake in a smart contract. These smart contracts are open source and decentralized programs that can be easily audited internally and externally, ensuring that users will always automatically get back their tokens at the end of the agreed-upon period. Once this minimum period is up, users can then choose to take their stakeout of the network and collect the return on investment (ROI) that they’ve earned.
Your expected ROI depends on which project you activated on your AVADO.
How much can you earn from an Ethereum 2.0 validator?
Most importantly you will need 32 ETH to start earning from staking on Ethereum.
By setting up an Ethereum 2.0 validator, AVADO users can participate in the exciting space surrounding the Ethereum blockchain. Its native asset Ether (ETH) stands as one of the most popular cryptocurrencies globally and one of the world’s most significant assets by market cap.
With the AVADO i7–232 and the i7–432 plug-and-play blockchain devices, users can stake Ether without needing any prior technical knowledge. This opens the opportunity to both experienced users and complete newcomers, who can start earning crypto right away.
To run a validator on the Ethereum 2.0 chain, you’ll need an investment of at least 32 Ether. This amount will be locked up in a smart contract until the ETH 2.0 merge takes place.
In exchange, you’ll get a return that is determined by the amount of Ether staked across its entire global network. Currently, the network’s annual percentage rate (APR) is around 5.3% of your staked Ether. Users can confirm their exact return by visiting the Ethereum website before running a validator on their device.
How much can you earn running an Avalanche validator?
Like Ethereum, Avalanche is a blockchain project that supports and enables decentralized applications (DApps). It also allows developers to create their blockchains on the foundation of the Avalanche chain. The ticker AVAX refers to its native token.
To take part as a validator in the Avalanche blockchain, the AVADO i5 is a suitable device and users need to stake a minimum of 2,000 AVAX for a lockup period of at least two weeks. In return, they can earn up to 11% return on their investment — depending on the total number of validators on the network.
At the current time, users are expected to earn around an APR of around 9.89% on their investment. For the most up-to-date information about your expected return, users can visit https://www.avax.network/validators.
Alternatively, AVADO users who do not want to stake the required 2,000 AVAX minimum can use their device to delegate to other AVAX stakers. Delegated staking will allow you to stake a much smaller amount of crypto, with a minimum of just 25 AVAX and a minimum delegation fee of 2%.
How much can I earn staking on QTUM?
Qtum is a cryptocurrency platform that caters to smart contracts and exchange transfers. QTUM is the native token within the network. Thanks to its lack of a minimum requirement for staking, staking QTUM can be a desirable option to people who are still getting started in the blockchain industry.
Users can stake any amount of QTUM with their AVADO i5 device, and there is no minimum lockup period. Your exact return on investment will depend on factors regarding the network itself, but by using Qtum’s Stake Calculator, you can view the current return on investment. At the time this article was written, Qtum’s annual ROI was 15.88%.
How much can I earn running a Tornado Cash relayer?
Tornado Cash is a non-custodial project that is built on top of the Ethereum blockchain. In exchange for helping out the project’s decentralization by running a relayer, users receive free crypto in exchange for automatically processing transactions.
To run a Tornado Cash relayer, you’ll need 2 ETH to cover the gas fees. In exchange for running a relayer node on your AVADO device, you’ll then earn the transaction fees that your node helps confirm. The result is passive income that fluctuates based on the number of transactions being sent on the network.
How much can I earn running a Mysterium node?
Mysterium is a project attempting to unite developers and entrepreneurs on the backbone of a borderless connected web. Its ecosystem functions through a utility token known as MYST.
What’s interesting about running a Mysterium node is that users can earn money without having to stake or hold any MYST of their own. While the payouts for operating a Mysterium node are currently lower than some of the projects on this list during this early stage in its development, the amount of MYST that people are paid out could increase in the future.
The exact amount that you’ll be able to earn depends on your location. More information can be found on the project’s official bounty page.
AVADO lets you earn from multiple projects at the same time
One of the most innovative features of AVADO’s range of plug-and-play blockchain devices is that users can actually earn passive income from multiple crypto projects simultaneously. This means that you can use your device in the way that you best see fit, based on your personal situation, needs, and interest in different projects.
As a result, the amount of time it will take to recoup your investment in an AVADO device will ultimately depend on the projects you choose to interact with. You might, for instance, wish to review this guide to deliberately stake projects that will give you the highest ROI so that you can turn a profit as quickly as possible.
As the blockchain ecosystem grows, AVADO is constantly adding support for more projects and giving users even more freedom to run their nodes or staking in up-and-coming crypto projects easily. This makes AVADO’s offerings an excellent way for beginners and experienced individuals to get in on the ground floor and be at the forefront of the blockchain movement.
To find out more, visit AVADO’s official website today.
Thanks to our community member @nebnitram for the contribution.
