#SoftStaking
Soft staking is a way to earn rewards for cryptocurrencies that does not require locking up your funds. Unlike traditional staking, where assets are locked in a smart contract for a specified period, soft staking allows you to keep your funds in your account while still generating passive income.
In summary, soft staking is like having a savings account in cryptocurrencies, where your funds generate interest without the need to lock them up.
Here are some details about soft staking:
Flexibility:
You can access your funds whenever you need them, without waiting for a locking period to end.
Lower rewards:
Generally, the rewards for soft staking are lower than those of traditional staking, as there is no locking of funds that guarantees the security of the network.
Requirements:
Some platforms may have minimum balance requirements to participate in soft staking.
Availability:
Not all cryptocurrencies or platforms offer the option of soft staking.
Compared to traditional staking (or hard staking), soft staking offers more flexibility at the cost of lower rewards.