Top 3 Ways to Earn with Lisk LSK

Now that we’ve explained the background of Lisk, how do you go about earning some Lisk passive income? Well, there are two ways. One is as an active delegate running a node. The other more feasible way is to stake the tokens in a Lisk wallet, which is far simpler and easy to set up.





To achieve any of these options, some LSK tokens must first be bought on an exchange. This might be Binance, or CoinSpot here in Australia. More information on exchanges can be found here in our tutorial:





Becoming a Delegate

If you are technically savvy, experienced with software development, and have a lot of patience, you could launch your own delegate node. It will cost you 25 LSK (as of today about $87) to get started. As a mechanism for earning Lisk passive income this way, things can get a little complicated.





The issue with running a node is that there are only 101 active delegates (nodes) at any one time, and there are 1613 on standby. You also need people to vote for you to climb the rankings, and the current top rankings have a server uptime of between 98 to 99%. It is therefore relatively unfeasible for the general crypto investor to set up and run a node, so we won’t go into too much detail here.





If you’d like to learn more, check out this guide to setting up a node.





Staking Tokens in the Lisk Hub Wallet (recommended)

The easier and friendly way for most people to earn Lisk passive income is through wallet staking.





To become a staker and earn dividend tokens, a minimum of 4 LSK is required to cast votes for delegates. You will need to purchase X + 4 at the minimum. That is the very first step.











You then need to download Lisk Hub, which is the new wallet and core client used for staking tokens and voting for delegates. You can download the wallet here





Run the installer and open the application once finished. If you don’t have an existing Lisk ID, you’ll have to create a new one. It’s a simple process, but make sure to store your passphrase in a very safe and secure location. If you lose this or someone gains access to it, you could lose all your funds.





You’ll then need to send your LSK tokens from the exchange you bought them on to the Lisk Hub wallet. To do this, use the unique wallet ID address generated for your new Lisk ID. While you’re waiting for the tokens to arrive in your wallet, go to the Lisk Hub settings. On the right side, under Advanced Features, click the slider button to enable Delegate Features. You will now see a new menu item on the left that says Delegates. Click this. Here is where you will see the delegates.





Voting on Lisk

These refer to the nodes we mentioned earlier. They all compete for votes based on their productivity and rewards. You will need to vote for 101 delegates, which is the maximum allowed. Each ‘vote’ lets you cast a selection of 33 votes maximum. Because we need to vote for 101, we need to vote 4 times. Each vote cost 1 LSK, which is why you need 4 LSK. Lisk has made earning Lisk passive income simple, but it does require a small upfront investment. This helps to separate spammers and encourages more serious investors to take part in earning.











To work out who to vote for next, visit earnlisk.com. These guys have made it very easy for us to cast our votes and have taken out all of the hard work. Scrolling down the page you will see 4 lists of ‘Batches’. These batches are put together based on the biggest sharing rewards. They optimally give you the highest dividend payout.

To begin the voting process, start by clicking the green Vote 1 box. Lisk Hub should automatically open and populate with the first 33 votes. Click ok, and follow through the steps to give 1 LSK for the vote. Simply follow the same process for Vote boxes 2-4, and that’s it. You are done voting and any tokens in your wallet will now be staking and earning you rewards



