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Idle Cryptocurrency and what we do with it

Welcome to our post on our idle cryptocurrency and what we do with it.

It is no secret to us. We have sat there watching our crypto numbers. They have gone up. We see them go down. There is lots of red and green too. We trade. Some we win and some we lose. We give some away via our free cryptocurrency faucets. We claim from crypto faucets.

But essentially, like many people, we do not yet use crypto to its’ fullest possible potential.
As a result of this, we have idle cryptocurrency.

So we thought about it for a while, and sourced ways where we can earn something on the crypto we had laying around in our wallets.

Our Game Plan Forms for Our Idle Cryptocurrency

It all started with our BTC. A little while ago now, we put pretty much all that we had left of our BTC reserves into the Free Bitcoin website. This has been slowly earning interest for us on a daily basis, along with the free btc we can claim from the various types of free spins we can do, hourly, and also via email links. We have also obtained a little over 18600 fun tokens there, which at the time of writing, is worth about 0.00094BTC. Our base account has around 0.0021BTC in it at this same time.

jaysndees free bitcoin affiliate idle cryptocurrency idea

Recently, it was decided that we would put the majority of our crypto into protocols that allowed for earnings whilst it was just sitting around. Undoubtedly, there are quite a large number of such protocols out there in the cryptosphere, but we want to keep it fairly simple not only for ourselves, but also for the Jays and how we teach them about it.

We tracked down all of our available cryptos and set to work. Admittedly, this was not a hard task, as we do have pretty much everything tucked into our SCWallet (Self Custody Wallet) Exodus.

From Mining to Trying

Firstly, we got our VTC from mining exchanged into BTC. We were able to accomplish this via the No-KYC exchange known as FreiExchange. They offer no trading and deposit fees, and low fees for withdrawals, as well as a great range of available trading pairs.
Although a valid email address is required for your notifications and confirmations, it is a fairly simple process to set up private email addresses if you want to keep it all separate from your mainstream stuff. For such choices we recommend Proton Mail. This is why we are calling it No-KYC.
It is worth mentioning here that withdrawals from FreiExchange does require that you have 2FA for account security.

Exchanging

Once our VTC/BTC exchange completed, we then created a BTC/LTC exchange. When this was finalised we sent the LTC to our SCWallet. We use LTC as our shuttle due to the cheap costs of sending transactions.

We were then able to go and create exchanges for our desired yield earning cryptocurrencies.
After some research and deliberation, we settled on Cosmos (ATOM) and Algorand (ALGO).

Cosmos self describes as “The Internet of Blockchains”. We will not go into details of their ecosystems here, but if you are interested in further reading, go and check out their website.

Converting

We used the No-KYC StealthEx to provide us with extremely competitive exchange rates to convert our LTC to ATOM. From start to finish, the actual exchange took about 12 minutes by the time we had the new funds in our SCWallet.
This is a pretty good speed for what goes on behind the scenes.
If you like, you can test out their exchanges by using the widget we have conveniently provided below.
*SMALL NOTE*
By using the widget, we receive a small commission from the exchange which does not affect your final result.

Our final amount is a little over 9ATOM with an APY of 14.75%.

As mentioned earlier, we also got some ALGO. If you are interested in further reading, go and check out their website.
For this exchange, we used some of our free BTC, once again calling upon StealthEx as our chosen platform.
All up, the conversion took a minute or so under an hour, and the majority of that time was waiting for BTC block confirmations after the first one appeared. The actual exchange was fairly quick.
The staking process was simple via our SCWallet, and as such, we have a bit over 86ALGO with an APY of 8.18% currently, and we are in Governance Period 12.

Onwards the future

We would like to get into this solution to idle cryptocurrency in many more different ecosystems, but we do have our constraints and limitations, namely, not investing fiat into it, as that in itself is one of our current “Work in Progress” situations.

By earning our crypto from crypto, we believe that we are satisfactorily achieving it the correct way.

This is why we operate crypto faucets, use crypto faucets, and just try to participate in crypto in any way we can.

Faucets and Active Ventures

Disclaimer

We are not financial advisers or experts, and as such, make no claims or warranties for any of the information we provide. Please, as with anything regarding major financial decisions it is important to Do Your Own Research and also talk to your significant other.

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