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As cryptoenthusiasts , we should definitely not avoid decentralized alternatives. In addition to the fact that these platforms often offer the possibility to earn a little money (cryptocurrency), we have more reason to try.

TOP useful blockchain platforms with earning potential in 2024

The blockchain space has matured significantly over the past few years, offering not just a variety of use cases but also numerous opportunities to earn passive income. From decentralized finance (DeFi) platforms to staking rewards and yield farming, investors and enthusiasts alike can grow their digital assets in a variety of ways. In this article, we’ll explore some of the most promising blockchain platforms in 2024 that offer users the chance to earn, along with their annual percentage yield (APY) and relevant links to get started.

1. Ethereum (ETH)

Overview: Ethereum remains the backbone of decentralized applications (dApps) and smart contracts. With Ethereum’s transition to proof-of-stake (PoS), ETH holders can now participate in staking to secure the network and earn rewards. As the largest smart contract platform, Ethereum provides unparalleled liquidity and opportunities in the DeFi space.

How to Earn:

Staking: Users can stake their ETH and earn rewards by locking up their coins in validator nodes. Ethereum staking is available via various services such as Lido, Rocket Pool, or directly through MetaMask.
Yield Farming and Liquidity Mining: DeFi protocols like Aave, Uniswap, and Curve allow users to provide liquidity or lend assets for competitive returns.

Estimated APY:

Staking: Between 4% to 6% APY, depending on the staking service.
DeFi Yield Farming: Depending on the risk and protocol, returns can range from 2% to 20% APY.

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2. BNB Smart Chain (BSC)

Overview: BNB Smart Chain is known for its low transaction fees and robust ecosystem of DeFi protocols. It’s a popular choice for traders and yield farmers alike, offering high-speed transactions at a fraction of Ethereum’s costs. The BSC ecosystem includes a wide variety of decentralized applications, from lending protocols to decentralized exchanges (DEXs) and yield aggregators.

How to Earn:

Staking: You can stake BNB through Binance’s exchange platform or directly on the chain using services like PancakeSwap.
Yield Farming: PancakeSwap is the leading DEX on BSC, allowing users to provide liquidity in exchange for high APY rewards, sometimes boosted with CAKE tokens.

Estimated APY:

BNB Staking: Up to 10% APY.
Yield Farming: APYs on PancakeSwap can reach upwards of 100% for certain liquidity pairs, though the highest returns often come with greater risks of impermanent loss.

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3. Solana (SOL)

Overview: Solana has gained tremendous traction for its fast transaction speeds and low fees, becoming a favorite for decentralized finance, gaming, and NFT applications. The platform is backed by a vibrant ecosystem, and staking SOL has become an increasingly popular way for investors to earn passive income.

How to Earn:

Staking: Solana allows SOL holders to delegate their coins to validators and earn staking rewards while supporting the network’s security.
DeFi Protocols: Solana has numerous DeFi applications such as Serum, Raydium, and Orca, where users can provide liquidity and earn rewards.

Estimated APY:

Staking: 6% to 7% APY.
DeFi Liquidity: Depending on the pool and risk, APYs range from 10% to 50%.

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4. Avalanche (AVAX)

Overview: Avalanche is one of the fastest-growing layer-one blockchain platforms, offering high scalability, low fees, and near-instant transaction finality. It’s designed to be a highly interoperable platform for DeFi, NFTs, and enterprise blockchain solutions.

How to Earn:

Staking: AVAX holders can delegate their tokens to validators to secure the network and earn staking rewards.
Yield Farming: Platforms like Trader Joe and Benqi offer liquidity mining rewards for users who provide liquidity to their pools.

Estimated APY:

Staking: 9% to 11% APY.
Yield Farming: Liquidity provision rewards can range from 15% to over 100% APY, depending on the pool and token pair.

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5. Polkadot (DOT)

Overview: Polkadot is a unique blockchain platform that enables multiple blockchains to interoperate through its “parachain” technology. It’s designed for scalability, security, and innovation. Polkadot has a robust staking mechanism, and parachains like Acala and Moonbeam provide additional earning opportunities.

How to Earn:

Staking: Polkadot’s staking mechanism allows users to stake DOT and delegate to validators for rewards.
Parachain Auctions: Users can participate in parachain auctions, locking up their DOT in return for native tokens from new parachains.
DeFi: Parachains like Acala offer yield farming and liquidity mining opportunities.

Estimated APY:

Staking: Around 10% to 14% APY.
DeFi: Returns from DeFi activities can range from 5% to 20% depending on the protocol.

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6. Cardano (ADA)

Overview: Cardano is a highly researched blockchain platform, known for its commitment to scientific philosophy and peer-reviewed academic research. With the introduction of smart contracts, Cardano has become a powerful platform for dApps and DeFi, offering staking rewards to ADA holders.

How to Earn:

Staking: Cardano operates a delegated staking system, allowing users to earn ADA rewards by delegating to a pool.
DeFi: With the recent launch of smart contracts, DeFi platforms on Cardano, such as Minswap and SundaeSwap, allow for liquidity provision and yield farming.

Estimated APY:

Staking: Typically around 4% to 6% APY.
DeFi: Returns vary widely depending on the platform and liquidity pool but can range from 5% to 30% APY.

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7. Tezos (XTZ)

Overview: Tezos is a self-amending blockchain with a unique proof-of-stake consensus mechanism. It’s known for its flexibility and ease of upgrading, which has attracted a growing number of DeFi platforms and NFT projects. XTZ holders can participate in staking (referred to as “baking”) to earn rewards.

How to Earn:

Staking/Baking: Users can delegate their XTZ to bakers and receive rewards in return for helping to secure the network.
Yield Farming: The Tezos DeFi ecosystem is expanding, with platforms like Youves and Plenty DeFi offering liquidity pools with attractive APY.

Estimated APY:

Staking: Between 5% to 6% APY.
Yield Farming: APYs on Tezos-based platforms can range from 5% to 25%, depending on the liquidity pool.

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8. Cosmos (ATOM)

Overview: Cosmos is designed to be the “internet of blockchains,” facilitating interoperability between different chains. The platform uses a proof-of-stake consensus mechanism, allowing users to earn staking rewards by securing the network. Cosmos has a growing ecosystem of DeFi projects that offer additional earning opportunities.

How to Earn:

Staking: ATOM holders can stake their coins to validators and earn rewards.
DeFi: Platforms like Osmosis and Gravity DEX provide liquidity mining and yield farming opportunities.

Estimated APY:

Staking: 7% to 10% APY.
Yield Farming: Returns from providing liquidity can range from 10% to 50% APY depending on the pool and platform.

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9. Polygon (MATIC)

Overview: Polygon is a layer-2 scaling solution for Ethereum, offering faster and cheaper transactions. The platform has attracted a huge number of DeFi applications, allowing users to earn by staking MATIC or participating in yield farming on its network.

How to Earn:

Staking: MATIC holders can stake their tokens to secure the network and earn rewards.
DeFi: Platforms like QuickSwap and Aave on Polygon offer yield farming opportunities with competitive returns.

Estimated APY:

Staking: Around 4% to 8% APY.
Yield Farming: Depending on the platform and liquidity pool, users can earn between 10% to 30% APY.

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Conclusion

With blockchain technology continuing to evolve, 2024 presents numerous opportunities to earn passive income through staking, yield farming, and liquidity mining. Each platform comes with its own set of risks and rewards, so it’s essential to do thorough research and understand the protocols before investing. Whether through high-yield DeFi platforms or more conservative staking rewards, blockchain offers a wide array of earning possibilities for those willing to dive in.