How to make $1 a day by staking Peercoin (or any other coin)

Passive income is one of my interests so putting some money into a proof-of-stake (PoS) cryptocurrency like Peercoin (PPC) and setting up a full node by letting the wallet run on my computer to collect staking rewards seemed like a very interesting idea.

As of July 3, 2024, Peercoin has a total market cap of just over $11.5 million with each coin costing $0.40. According to the official website, the ROI on staking Peercoin is 1% per year.

In order to make $1 a day by staking peercoins, I would need to be making $365 worth of peercoins a year. Since the annual ROI is 1%, I would need $36,500 worth of PPC. That works out to about 91,250 PPC at current prices which would also make my address the 59th richest PPC address on the blockchain.

And that’s not including the fact that like nearly all cryptocurrencies, the price of PPC is very volatile – e.g. it was trading at $0.60 per coin just two months ago. Because of this, small price shifts up or down can make the rewards from staking seem pretty irrelevant.

So there goes that idea…

From this little mental exercise, it seems that the equation to find out how much of a cryptocurrency (in $) needed to make $1 worth of it per day assuming an annual ROI x% is 365*(100/x). In the case with Peercoin, x = 1% so 365*(100/1) = $36,500. And of course, if you want to make e.g. $10 a day instead of $1 then you can just multiply the result by 10. Furthermore, neither the price per coin nor the market cap matter for this equation.

Here is a table that shows several PoS coins, their approximate average annual staking reward rate, and the amount of money that would need to be invested in order to make about $1 a day rounded to the nearest dollar (note that some of these coins might have other requirements for staking such as a minimum balance and coin age):

CoinAverage annual staking rateInitial investment needed to make $1 a day
PRIZM120%$304
Lindacoin70%$521
Bulwark43%$849
Phore37%$986
ION25.15%$1,451
HoboNickels25%$1,460
Stakenet20%$1,825
Decred13%$2,808
Blocknet12.9%$2,829
Neblio8%$4,563
Qtum7%$5,214
Emercoin6%$6,083
PIVX6%$6,083
Komodo5%$7,300
KuCoin Token5%$7,300
ReddCoin5%$7,300
Navcoin4%$9,125
Neo4%$9,125
Particl4%$9,125
Nexus3%$12,167
Electra2.5%$14,600
Waves2.1%$17,381
Stratis1.5%$24,333
BlackCoin1%$36,500
Peercoin1%$36,500
Colossuscoin0.5%$73,000
Nxt0.3%$121,667

Back in the mid 2010s, there was a coin called HyperStake that promised extremely high staking rewards of up to 750% per year. As long as the price of each coin remained the same, an initial investment of less than $50 would have yielded a $1 daily return! Most PoS coins like ReddCoin, Navcoin, Emercoin, and Neo have far less extreme returns of about 4 to 10% per year. However, the prices of many of these coins have fallen by over a third during the past couple of months which goes to show how easy it is for potential returns from staking to be completely overshadowed by price volatility.

If you know of any coins with good potential for staking then feel free to share them in the comments.

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