$BTC What is meant by staking cryptocurrencies?

Staking cryptocurrencies involves locking up crypto assets to secure a specific network. Staking cryptocurrencies is common with digital currencies that use a Proof of Stake (PoS) algorithm. In contrast, other assets like Bitcoin use a Proof of Work (PoW) model to validate and secure transactions on their network, while other assets like Cardano and Polkadot use a Proof of Stake (PoS) model. Staking cryptocurrencies is a great way to earn passive income, and it is also a more energy-efficient model for mining new coins and adding them to the network. Due to its proportional returns and low barrier to entry, many cryptocurrency exchanges now offer staking as a service (SaaS) to their users.