Lesson 2: What is Staking?
Staking is the process of locking up a certain amount of cryptocurrencies in your wallet to support the blockchain network and help secure it, in exchange for rewards.
🔹 Staking is similar to depositing in a savings account:
The more coins you stake, the greater your chances of earning rewards.
🔸 Benefits of Staking: – Earning passive income
– Supporting and strengthening the network
– No need for mining equipment
🪙 Popular coins that can be staked: – ADA$ (Cardano)
– ETH (after the merge update)
– AVAX, ATOM, and DOT
📌 Warning:
Some platforms allow you to stake directly, but make sure to understand the lock-up conditions and staking duration before you start.
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✅ Summary:
Staking is a smart way to benefit from your cryptocurrencies, and it is a fundamental part of proof-of-stake networks.
