How can NGC coin holders earn passive income?

3 answers

• May 05, 2022 · 3 years ago
  One way for NGC coin holders to earn passive income is through staking. By staking their NGC coins, holders can participate in the network's consensus mechanism and earn rewards for validating transactions. This process helps secure the network and incentivizes coin holders to actively participate in its operation. Staking can be a profitable way to earn passive income, especially for long-term holders who believe in the project's potential.
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• May 05, 2022 · 3 years ago
  Another option for NGC coin holders to earn passive income is by lending their coins through decentralized lending platforms. These platforms allow users to lend their NGC coins to borrowers in exchange for interest payments. The interest rates are determined by supply and demand dynamics, and can vary over time. Lending can be a relatively low-risk way to earn passive income, as borrowers are required to provide collateral to secure their loans.
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• May 05, 2022 · 3 years ago
  BYDFi, a popular decentralized finance platform, offers a unique opportunity for NGC coin holders to earn passive income. By providing liquidity to the NGC/ETH pool on BYDFi, holders can earn trading fees and liquidity rewards. This strategy, known as liquidity mining, allows users to earn additional NGC coins while contributing to the liquidity of the NGC market. It's important to note that liquidity mining carries some risks, such as impermanent loss, so it's essential to do thorough research and understand the potential risks before participating.
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