As we grow bigger so are our bills. Hence a need for multiple streams of income if you must live a life with little money worries and what better ways to do this other than passive income streams.
In my three years active search for means of livelyhood, the hive block chain have proven to be one of the most reliable and rewarding income stream. Below are the 3 Ways I have earned passive income from hive blog.
STAKE
Staking is basically a form of investment where you lock up your crypto holding strategically to generate interest and rewards.
Here on Hive blog, part of your blog post earning is being staked on your behalf (you can always choose to unstake) and that is what we know as hive power (hp).
Your hive power which is also your voting is simply the influence you have on the block chain.
Ever heard of 'the whales?'. No, no, I don't mean whales like the fishes in the ocean. Well these ones are the big fishes on hive block chain and their hp made them so. You can liken these people to the major stake holders of this platform.
Yeah. I get it. You've heard hive is a decentralized platform. Hmm. Well....it is and itchisnot! Because people with huge hp are at the helm of affairs here which is good to maintain orderliness.
Oops, I deviated. So yeah, you earn by staking your crypto (hive or any native token like the #leo #loh #pob #palnet) to generate passive income from the reward pool when you upvote. Sorry, I won't go into details of how your investment is used or how the reward pool works. Just know you earn from staking strategically!
DELEGATE
This is yet another passive income means which basically involves 'borrowing' of your hp to another hive account.
Most times this come from a place of support. We see a project on hive that we love, we support by delegating some or all (if you wish) of our hp. You introduce that friend to hive and you want to make it easy for him or her to make comments without the usual newbee hp restrictions? You delegate!
The sweet thing here is when you delegate, the rewards come back from wherever it is used! Talk about what goes around, comes around!. I just love the hive Ecosystem.
AUTO UPVOTE
This one is super cool because I call it the most passive of all the passives!
There are hive users that put me on auto upvote because they love my contents! Likewise myself. I have some of my content creators here on auto upvote such that whenever there is a blog post from them, the algorithm upvotes them on my behalf. So yeah I could be sleeping and upvoting which mean accumulating wealth passively.
You remember the delegating I talked about earlier? It sort of work with the same principle too.
Also you can delegate hp to some hive accounts that curate random quality post and anytime those curators upvote any content your account is listed as one of the upvote.
Did I miss anything out? If you remember any drop it in the comments. Let's share our Hive passive income tips.
Image was made with Canva.
Posted Using LeoFinance Beta
I never know much about Hive. When I joined here, honestly, I only know how to post but not more of the activities that every user must know. Im fact, I just had my first power up yesterday and it made possible because of the support and guidance of friends here in the community that I truly appreciate. And I feel so glad that I bumped into your very informative content now, dear friend, @ozohu . It is nice meeting you with your amazing insights today. Have a great day and take care.
Yes give is such a place with massive things to learn. It could be overwhelming to newbees at times but am sure you have settled in quite well.
I'm glad you found this informative. Thanks for interacting with my blog!
You are very much welcome and the pleasure is mine my dear friend @ozohu. See you around and I am glad meeting you today when someone reblogged it. Have a nice day and keep safe always.
This is the beauty of Hive ecosystem. Money works for us and these ways are something I'm trying and seems like the best thing to do in this market and for long term bet.
You explained things very nicely. Awesome and have a Good day ahead.
Yes it does. Passive income is such a goal and hive is serving it!
Thanks for clicking!
I will try this out, thanks for sharing
You're very welcome.
It let me have a thorough understanding that aside from posting, there's a lot more to do here to earn passive income. But aside from it, it also let us learn new things, explore new thoughts, building good reputation, and making friends around the world.
Very true. The hive Ecosystem is an amazing place. Not only do you blog and earn, we treat each other with love and respect like we've always known each other.
Hey mate, thanks for reading and interacting. Have a blissful week ahead!
Congratulations @ozohu! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
Your next target is to reach 900 comments.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Check out the last post from @hivebuzz: