Hello! Holding cryptocurrency is just one way to participate in the market. There is another way that allows you to earn passive income without selling your coins. It's called staking.
What is staking?
In simple terms, staking is the process of locking up your cryptocurrency to support the operation of a blockchain network with a Proof-of-Stake (PoS) consensus mechanism. In return, you receive rewards in the form of new coins.
Why consider staking?
Passive income: You can earn while you sleep.
Network support: You help ensure the security and stability of the blockchain.
Growth potential: Your earnings from staking can grow along with the price of the coin itself.
How to start staking? (Very simple)
Choose a coin: For staking, coins that operate on PoS are suitable. The most popular are $ETH (after the The Merge update) and $SOL.
Choose a platform: You can stake directly through your wallet (safer) or through centralized exchanges like Binance (easier for beginners).
Start staking: Follow the instructions on the chosen platform, lock your tokens, and start receiving rewards.
Important: Staking is not without risks! The main one is price volatility. If the price of the coin drops, your staking earnings may not cover the losses.
What coins are you currently staking or planning to stake? Share in the comments 👇