Soft Staking is a way to earn rewards on cryptocurrencies without needing to lock them for a specific period. Unlike traditional staking (Hard Staking), which requires freezing assets for a set time, soft staking allows you to keep the currencies in your wallet while still earning rewards. To activate it, you typically need to deposit the currencies in a wallet or platform that offers soft staking service, and then subscribe to the staking program.
Explanation of soft staking:
Soft staking is a form of staking where your assets are not locked for a certain period. Instead, the currencies are stored in your wallet or on your trading platform account, and you earn rewards regularly (daily or weekly) on these assets. This gives you greater flexibility in managing your investments, as you can sell or transfer coins at any time without losing rewards.
How to activate soft staking:
1. Find a platform that supports soft staking:
Look for trading platforms or digital wallets that offer soft staking services (such as Binance or other platforms).
2. Log in to your account:
Log in to your account on the chosen platform.
3. Look for the staking or Earn section:
Look for the section dedicated to soft staking or the 'Earn' or 'Hold' section.
4. Choose the appropriate currencies:
Select the cryptocurrencies you wish to store that are supported by the platform.
5. Deposit the currencies:
Deposit the currencies you have chosen in the wallet or account linked to the platform.
6. Start earning:
Once you deposit the currencies, you will start earning rewards automatically.
Benefits of soft staking:
Flexibility:
You can withdraw or trade your currencies at any time without restrictions.
Rewards:
Earn regular rewards on your cryptocurrencies.
Ease of use:
Soft staking does not require complex technical setups or setting up a contract to secure the network.
Minimal risk:
There is no significant risk of losing assets due to being frozen for a long time.
