More Passive Income From Peaq
The recent launch of PEAQ has reawakened the world to the power of DePIN. I have been addressing Peaq and various projects within its ecosystem throughout 2024 as many of these applications offer a form of passive income. DePINs like Nodle and Grass have millions of devices within their infrastructure. Effectively harnessing the power of DePIN is a fantastic long-term Crypto strategy for passive income.
Many of these tokens will surge by astronomical amounts within the next year. Have a look at Verus for example. Verus is specifically aimed at phone mining. Regarding traditional Crypto mining, phone mining might be dead, but that’s not the case with DePIN mining. On the contrary, relative to cost, phone mining within the DePIN sector is highly profitable. In many cases, the only cost is recharging the battery.
Verus (VRSC) has surged from $0.00177 in late 2020 to $4.22 today. Every $1 you mined in 2020 would be worth $2384 today. However, very few have the insight and foresight required for such a strategy. Many DePINS are currently worth cents or a fraction of a cent but will be worth more. If you can earn these tokens passively you are making a mistake by ignoring them.
Watcher Nodes
DeNet is a relatively new project migrating from Polygon to Peaq and also offers free passive income in the form of Watcher Nodes. This is different from a storage node. A Watcher Node simply validates the storage being provided. In other words, you don’t have to provide storage but can still benefit from validating the storage being provided on the network. Interested parties can download a watcher node and begin earning WN tokens.
Once downloaded, scroll to the bottom of the “Watcher” page and activate the Watcher Node. The battery will recharge every 6 hours enabling you to launch the Watcher Node and earn WN. The node can be launched once the battery power reaches 7%. There is also a daily reward for launching the node 5 times within a 24-hour period. This particular aspect of DeNet is semi-passive and not entirely passive.
It’s important to note that the Watcher Node remains entirely free. There can be some confusion regarding the 30-day free trial within the dApp. However, this has nothing to do with the Watcher Node. Downloading the DeNet dApp and running a Watcher Node is entirely free. Use the following code: 0xcd5c8bafe8166fbc8ccba960a1071c99aac65238 to receive 1000 free WN tokens upon registration.
I initially abandoned DeNet thinking users had to pay to participate in the DePIN. However, this is not the case. Furthermore, you will note that there will soon be the opportunity to earn PEAQ tokens. I see that Silencio dApp has also informed users of this upcoming perk. Silencio is another DePIN project within the Peaq ecosystem. To find out more about Silencio, you can visit an article I published back in May.
Final Thoughts
I do not take lightly the privilege of earning free WN and PEAQ tokens. I always look to maximize passive income opportunities, as in most cases, it’s usually a set-up time of a few minutes that continues to provide rewards years down the line. DeNet does have some additional semi-passive elements as well, but they help to boost earnings and require very little effort—less than 2 minutes a day. See you next time!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
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