How do you make $10 a day?
It’s not easy but it’s not hard either.
If you are looking to make money at least $10 a day, you may be able to do it with cryptocurrency. I’m currently making around $5 per day. Not bad right?
There are a lot of ways to do it with crypto, but there is one way that I particularly like. Invest in nodes and you can do it with grape finance.
What is Grape Finance?
According to their Documents which can be found here,
Grape Finance is an algorithmic stable coin protocol pegged 1:1 to MIM on Avalanche. Much like Basis Cash our protocol uses three tokens (GRAPE, WINE, GBOND) to incentivize a stable 1:1 peg to MIM.
The protocol’s underlying mechanism dynamically adjusts GRAPE’s supply, pushing its price up or down relative to the price MIM. This should be $1 however there may be times when MIM loses its peg and if our protocol is functioning as intended will follow MIM to keep pegged 1:1 to it.
For your information, MIM or Magic Internet Money is a Stablecoin that peg to the dollar. That means, that MIM will always be, or near to $1.
From this statement, Grape Finance has a token called grape which is pegged to the dollar. They will always be valued at near to $1.
But how to do it?
How to Make Money with Grape Finance
One of the method I’m currently using is investing on their node. What are nodes you say?
The aim of nodes is to create a strong incentive for long-term holding of GRAPE and several other coins through the use of a locked staked high earning pool. The pool requires users to spend 50 GRAPE to create a node that in turn delivers daily GRAPE rewards back to the user at an estimated initial starting rate of 1.5-3% daily delivering passive yield in a token pegged to a stablecoin. This will reward long-term holders with a higher yield than the single stake GRAPE pool and in turn lock up a portion of the GRAPE supply helping to reduce market sell pressure on GRAPE.
Node is like staking a token. You may be used to the term staking which can widely be found in DeFi space of Crypto. With staking, you stake, let say BNB Coin and will get let say 5% APR. When you want the coin back for some other usage, you can withdraw the coin together with accrued APR.
Nodes on the other hand will be locked, you can’t withdraw it. You will only receive APR value from the nodes.
In Grape finance example, currently they have APR of 546%, which translate to around 1.5% daily APR. And they will pay at maximum of 500% per node.
To invest in Node, you need 50 Grape for 1 node. With 1 node, at the current APR, you’ll get back [(1.5/100) x 50], which will equivalent to 0.75 grape. With current Grape value between $1.20-$1.30, you’ll get at least $0.90 per day. That’s $27.00 a month.
Want $10 a day? Invest at least 10 nodes.
Want $50 a day? Invest 55 nodes and so on.
How Am I doing So Far
So far, my investment with Grape Finance going quite good.
I started around 1 Month ago and I have slowly buying nodes. I have bought 4 nodes which cost me around $250 at that time, I have claim around 100 Grape since and reinvested on another 2 nodes.
The total nodes I have now currently at 6 nodes, producing around 4.5 Grape per day, which translate to around 45 Grape every 10days. That’s around $5 per day.
I aim to reinvest the Grape I claim to at least 10 nodes, but before that I will withdraw my initial investment of $250, equivalent to around MYR1K. Currently Grape token price hovering around $1.30-$1.39 which is pretty impressive given the current situation of the market.
Risk of Investment
Of course with every investment, there always be risk. One of them in the crypto space will be contract risk. If hacker hack the contract, you might lost your investment.
Another risk is the event of de-peg if Grape from MIM.
Before you invest in anything, make sure to DYOR!
And last, please invest only money you comfortable loosing because crypto is a new space with a lot of risk.
And to remind, this is not a financial advice. I’m only sharing my experience with the protocol so far.
For those who are interested to invest, Please stay SAFU!