$SOL If you are an investor in Solana and see a long-term future for it, there is no point in keeping your coins in your wallet without generating passive income from them. Therefore, in this article, I will explain how to profit from Solana coins with minimal risks. What is Staking? All Proof of Stake networks like Solana rely on a system where the network coins are staked to Validators, with the aim that these validators will process network transactions. In return for their efforts, they receive transaction fees and network rewards in SOL coins. Therefore, staking is very important in the structure of blockchain networks, as it is the foundation of the network: the validators and the proof-of-stake system. Consequently, staking yields are stable as they are not affected by coin prices but are based on network activity. If you wish to participate in staking, you can simply stake your coins to a validator and lock them for that validator, and you will receive rewards normally. However, some prefer not to do so because they want to receive staking rewards but at the same time do not want to give up ownership of their coins and wish to use them in DeFi applications or for other purposes. Therefore, there are liquid staking coins in the market, and the idea is that you stake your coins and lock them for a validator, which is usually a platform or protocol, and in return, you receive a liquid staking coin that is equal in price to the original coin, in this case, Solana. Most individual investors prefer this solution as it gives them access to liquidity while ensuring staking returns. How do you earn Staking rewards for Solana? From the homepage, look for Sol Staking, then click on Subscribe. Then specify the amount of SOL coins you want to participate with (minimum 0.01). You will see the expected annual yield below, along with how much SOL profits you will earn monthly. After that, you will receive BNSOL, which you can use on DeFi protocols and more with ease.
