I am often asked the question why I don’t engage in crypto trading. I don't deal with her because she is veryrisky and time-consuming. But I'm in the business of staking Proof-of-Stake (PoS) consensus cryptocurrencies.
Have you heard the saying “money begets money”?So, it gets a new interpretation in the world of decentralized finance. This is where people can earn cryptocurrencies by creating cryptocurrencies. This process, called staking, brings in incredible interest rates.
Cryptocurrencies run on blockchains thatrely on their users to verify transactions. Transaction validators are rewarded with newly mined cryptocurrencies that run on this blockchain.
Proof of Stake Blockchains - PoSrequire validators to allocate a “share” of cryptocurrencies as a form of deposit. Lazy or overly cunning validators can be fined for sloppy network maintenance or even lose their deposit (stack).
Staking in the context of cryptocurrency is whena person holds a cryptocurrency in a digital wallet for a specified period of time to support the security and operations of the blockchain. The amount of interest earned on staking delegated coins depends on market conditions and the length of ownership.
This is an alternative method for investors to generate additional interest income on their coins. This is achieved through proof of stake and delegation methodologies.
Rewards can be quite lucrative:you can easily get 5% or even double-digit rewards. But there are risks. The rewards depend on the number of other validators you compete with, as well as a number of other factors. If the cryptocurrency that you have blocked in staking drops in price, it is impossible to sell it quickly.
Confirming transactions on the blockchain is notchild Game. This requires know-how and specialized computer hardware and software. So it's no surprise that crypto companies stepped in to provide "staking as a service" - taking care of the tricky stuff for a fee.
For example, the Swiss bank Sygnum helpscustomers place Tezos coins on the Tezos blockchain. But even Sygnum needs help for this. The licensed bank approached the Swiss cryptocurrency specialists Taurus, who are directly related to Tezos. Users receive up to 6% annual income (APY).
The stack-based business seems to be gaining momentum. But I do not use the services of companies, but delegate coins to specialized applications - mobile wallets that support staking.
Staking only on the SpaceBot wallet brings meon coins: DEL - up to 94.6% per year (up to 0.26% per day), BIP - 30.9% per year (0.085% per day), BTT - 40.5% per year (0.1114% per day), WDX (Tron) - up to 293% (up to 0.8064% per day) and PZM - 18.2% per year (0.05% per day). And that's great, but not all.
On Guarda Wallet I get: Callisto - 7.85%, Cosmos - 8.84%, Eos - 1.49%, Neo - 1.23%, Tezos - 6.09%, Now Token - 25%, Harmony - 10 , 83% and Cardano - 4.14% annual remuneration.
This is why staking is the best deal today.in the crypto market. Costs - minimum, income - maximum. Hope I answered the question why I am staking. What kind of passive income do you do?
