The Defi Chronicle: How and where I’m using Polygon to earn passive income

While Bitcoin and the crypto market as a whole decides which direction it will go, I am exploring ways to earn passive income on my portfolio. Here are some ideas on platforms that I have found in the Polygon ecosystem that are offering attractive yields and some strategies that I am employing. This is not financial advice and crypto currency is a high risk investment.

Until recently, gas fees on Ethereum kept me from diving too deep into the decentralized platforms for earning yield. Binance Smart Chain came along and immediately saw huge usage with gas fees that were less than 1% of Ethereum’s gas fees. Now there is a new kid on the block, Polygon, and it has gone a step further practically eliminating gas fees. This means that normal people without huge account balances can tread into Defi’s waters. Unfortunately, we still have to pay Ethereum miner fees to transfer our coins over to Polygon, but this is a much easier pill to swallow than paying fees that sometimes outpace yields.

Keep in mind that I like to keep my portfolio diversified. Not only in coins, but also in platforms and exchanges. I understand that this strategy is not for everyone, but with all of the scamming, hacking, and manipulating that goes on I don’t want all of my eggs in a single basket. Here’s a couple of strategies…