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While you may be well-versed in the advantages of holding digital assets over time, you might not be aware that certain cryptocurrencies offer the added benefit of regular dividend payments.
Diverging from airdrops or giveaways, crypto dividends represent payments specifically allocated to holders by the project’s governing organization. This unique feature means that as the cryptocurrency expands, both its value and associated fees tend to increase, creating a dividend stream for coin holders.
Here is a comprehensive exploration of some of the premier dividend-paying cryptocurrencies for 2024. The analysis focuses on ranking these digital assets based on criteria such as market capitalization, availability, and popularity, providing you with valuable insights into the top performers in the crypto landscape.
LooksRare (LOOKS)
Market capitalization stands at $70,400,000, with a daily trading volume of $2,700,000 across 35 supported exchanges. The community, boasting 239,100 Twitter followers, contributes to the vibrancy of this cryptocurrency, and an estimated annual dividend of 9.0% enhances its investment appeal.
LooksRare, a decentralized NFT marketplace launched in early 2022, has distributed over $1 billion in rewards, aiming to challenge OpenSea’s dominance. With a modest 0.5% fee on NFT sales, compared to OpenSea’s 2.5%, LooksRare offers a fee-free promotion until December 16, 2023.
Powered by the LOOKS token, LooksRare distributes all NFT sale fees to LOOKS stakes, providing a dividend-like reward. Currently trading at $0.07, LOOKS has a maximum supply of 1 billion tokens, with nearly half in circulation. Despite a peak at nearly $7 post-launch, the token faces bearish pressure in the crypto winter.
LooksRare earns a solid 4.0 rating as a leading decentralized NFT marketplace with a unique dividend model.
VeChain (VET)
With a market capitalization reaching $1,529,343,380, a robust daily trading volume of $32,040,000, and a substantial community of 589,400 Twitter followers, this cryptocurrency is making significant strides. Its widespread accessibility is reflected in its being supported by 100+ exchanges. Additionally, investors can anticipate a 2% estimated annual dividend, adding to the allure of this thriving digital asset.
VeChain, a standout in the smart contract platform arena akin to NEO and Ethereum, distinguishes itself with a highly scalable and eco-friendly Layer-1 blockchain infrastructure. Notably, VeChain provides a unique perk by rewarding users with VTHO coins as “dividends” for holding VET tokens in their wallets. This payout, at a rate of 0.00043 VTHO tokens per day per staking of 1 VET, yields an annual dividend ranging from 1% to 3%, disbursed monthly. Given its scalability and environmentally conscious ecosystem, VeChain earns a commendable score of 4.0 in our assessment.
NEO (NEO)
With a market capitalization of $773,797,866 and a daily trading volume reaching $50,015,100, this cryptocurrency commands attention. Supported by 100+ exchanges and boasting a sizable community of 423,900 Twitter followers, its influence is evident. Additionally, investors can anticipate a 3% estimated annual dividend, further enhancing its appeal in the market.
NEO, once AntShares, has carved its niche as the “Chinese Ethereum” with a robust smart contract blockchain. While it emerged prominently during the ICO surge, it now faces tough competition from Solana, Avalanche, Polygon, and Polkadot.
At the heart of the NEO ecosystem is the NEO token, lockable in the NEO wallet to yield dividends in GAS tokens. Unlike Ethereum’s gas fees, NEO’s GAS serves a dual purpose, facilitating operations, storage, and dividend rewards.
As of now, NEO stands at $10.97, experiencing an 80% increase from its $6.08 starting point in 2023. Meanwhile, GAS is at 8.30, showcasing a remarkable 300% year-to-date growth.
With an annual return exceeding 3% and a daily reward of 0.0004 GAS per NEO token, NEO remains a decentralized infrastructure contender, earning a solid score of 4.0 despite heightened competition.
PIVX (PIVX)
With a market capitalization of $46,289,774 and a daily trading volume reaching $5,677,313, this cryptocurrency showcases its market influence. Supported by 14 exchanges and with a community of 69,600 Twitter followers, it demonstrates a solid presence. Investors can also look forward to an attractive estimated annual dividend of 13%, enhancing its appeal in the market.
PIVX, standing for Private Instant Verified Transactions, emerged in 2016 as a privacy-centric cryptocurrency, originating as a code fork of Dash. It distinguishes itself with zPIV, its “sub-currency,” enabling anonymous financial transactions.
Utilizing the Proof of Stake Zerocoin protocol, PIVX engages users in securing the network, rewarding holders with new PIVX coins at an impressive annual rate of up to 13%. For those seeking higher returns, setting up a “masternode” with a 10,000 collateral lock-up offers a lucrative annual earning potential of up to 18.63%.
Currently priced at $0.41, a notable increase from its $0.23 starting point this year, PIVX outshines competitors like KuCoin, Komodo, and NEBL, attributing its higher score to its substantial APR and user-friendly dividend-earning process.
KuCoin Shares (KCS)
With a robust market capitalization of $645,117,850 and a daily trading volume of $2,565,043, this cryptocurrency commands attention in the market. Supported by six exchanges and boasting a massive community of 2.5 million Twitter followers, it stands out for its widespread influence. Investors can also anticipate a steady estimated annual dividend of 2%, adding to its appeal as a noteworthy digital asset.
KuCoin, a prominent exchange established in 2017, garnered a valuation of $10 billion in its latest financing round in May 2022. At the heart of its ecosystem is the KuCoin Shares (KCS) token, an ERC-20 representation. Holding KCS in the KuCoin wallet entitles users to daily rewards through the KCS Bonus program, with actual amounts dependent on user holdings, total qualified user holdings, and the platform’s daily trading volume.
This unique system allows KCS holders to generate an annual percentage yield (APY) of up to 2%, as daily dividends are derived from 50% of the exchange’s daily revenue from trading fees. To qualify, users need to hold a minimum of 6 KCS, roughly equivalent to $40 at the current price.
Recognized for its innovative passive income mechanism, KCS scores a notable 3.0 out of 5 in our evaluation, making it an appealing choice for users seeking rewarding opportunities.
Notice for Investors
Unlike traditional stocks, where dividends are typically received in cash or additional shares, cryptocurrency investors are rewarded with dividend payments in the form of crypto tokens. The dynamic nature of crypto dividends introduces a significant variability in value, emphasizing the importance of prioritizing the project itself over the dividend aspect. Given the notorious volatility in the crypto space, careful consideration of both the project’s stability and potential dividend fluctuations is essential.
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