How can JXN HODLers make a passive income?
by , Head of Content at Jax.Network
We all dream about making a passive income that brings money around the clock without hard efforts. Jax.Network offers you such an opportunity. Read the article to learn more about it.
What is the use of JXN?
JAXNET (JXN) is an asset coin that is issued on the beacon chain of our blockchain. It’s critical for the Jax.Network infrastructure, as it fulfills a number of purposes. For example, JXN can be used:
- to pay for the security of Jax.Network by incentivising Bitcoin miners to merge-mine Jax.Network
- as gas fees for exchange agent listing transactions and other critical transactions
- to incentivize miners to defend the beacon chain that holds the shard registry
- as a secondary savings account for the Bitcoin network
- to incentivize miners to defend the Bitcoin network when the BTC reward drops to 0
- to reflect the value of the transactional payments ecosystem of Jax.Network
- to help miners to arbitrage between mining our transactional coin JAX or continue earning block rewards from the beacon chain.
As you see, JXN has not only a speculative purpose but it also helps to pay for execution of transactions within the network. And that’s what makes JXN a great source of income.
Earning a passive income from JXN
Despite clear practical use, we expect that most people will buy JXN for a single purpose — speculation. Jax.Network is still a pretty young project, even though we spent almost three years on R&D, so we have a long way to go. Our main mission is to establish JAX as a universal standard for the quantification of economic value. That is an ambitious and time-consuming thing to do. But let’s get back to JXN. We argue that the value of this coin will constantly grow with the development and mass adoption of JAX and Jax.Network around the world, so it makes sense to HODL JXN to see maximum ROI.
Well, HODLing is one option for earning money from JXN. However, some people like to have their money working 24/7 and bringing a passive income. Is that even possible with crypto? Absolutely! Staking is a popular way to maximize your holdings via staking coins and fiat that sit on your cryptocurrency exchange account. So, similar to bank deposits, in exchange for lending your assets for a certain period of time, you get rewards on top of your holdings.
Staking sounds cool but what if there’s nothing to stake. What would you do in the real world? Would you go to the bank and take a loan? Certainly! So why don’t you do the same in the crypto world? You can go to a decentralized lending platform and take a DeFi loan, which you can stake and earn profit. Note that we don’t advertise any platforms here, so do your own research, please.
Conclusion
DeFi has disrupted the world financial market, offering an abundance of ways to earn money. Most of them require hard work and experience but there are some options that provide you with a stable passive income. For example, staking. It helps to make the most out of your crypto holdings without the risks that traders face.
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