WHAT IS CRYPTO STAKING? HOW CAN YOU EARN UP TO 156%?
All blockchains require transactions to be validated. For example, Bitcoin validates its transactions using a electricity intense process called mining or Proof-of-Work. In addition to mining there are many consensus mechanisms that are used for validation including Proof-of-Stake (PoS), often referred to as staking. Coin staking offers currency holders some decision making power on a blockchain network. By staking your coins, you gain the ability to vote and generate a passive income.
This process is very similar to receiving interest for depositing and holding money in a bank account or authorizing the bank to invest.
This process is very similar to receiving interest for depositing and holding money in a bank account or authorizing the bank to invest.
WHERE TO STAKE YOUR ETHEREUM COINS?
The successful launch of Ethereum 2.0 Phase 0, marks the first step in the march towards a more scalable, efficient and profitable network. This rollout includes the transition from Proof of Work to Proof-of-Stake transaction validation. It is a major shift in the way the Ethereum Network operates and marks the end of Ethereum mining.
CHANGES TO ETHEREUM MINING
The launch of Ethereum 2.0 is the end of Ethereum mining. This means that individuals that wish to earn money by participating in the network must make an investment in the network. This is achieved by locking at least 32 ETH for up to two years in a smart contract that will reward users with tokens on a progressive basis.
OPTIONS FOR THOSE WITHOUT 32 ETH
Ethereum 2.0 requires a deposit of at least 32 ETH to begin rewarding a specific wallet. Once the account has been funded, the more ETHs deposited, the greater the return. Unfortunately, not everyone has $19,150 free to risk.
Fortunately, multiple cryptocurrency exchanges have created a solution for individuals that want to invest a fraction of the 32 ETH minimum deposit. This is achieved by creating a staking pool, where retail investors deposit their money. The exchange then gathers the pool deposits, places it in a smart contract, and then distributes the profit among all users proportionally.
Three of the top exchanges with ETH pools are:
1. Binance
2. Kraken
3. Coinbase
CHANGES TO ETHEREUM MINING
The launch of Ethereum 2.0 is the end of Ethereum mining. This means that individuals that wish to earn money by participating in the network must make an investment in the network. This is achieved by locking at least 32 ETH for up to two years in a smart contract that will reward users with tokens on a progressive basis.
OPTIONS FOR THOSE WITHOUT 32 ETH
Ethereum 2.0 requires a deposit of at least 32 ETH to begin rewarding a specific wallet. Once the account has been funded, the more ETHs deposited, the greater the return. Unfortunately, not everyone has $19,150 free to risk.
Fortunately, multiple cryptocurrency exchanges have created a solution for individuals that want to invest a fraction of the 32 ETH minimum deposit. This is achieved by creating a staking pool, where retail investors deposit their money. The exchange then gathers the pool deposits, places it in a smart contract, and then distributes the profit among all users proportionally.
Three of the top exchanges with ETH pools are:
1. Binance
2. Kraken
3. Coinbase
8 WAYS TO EARN CRYPTO ON BINANCE THAT DON’T INVOLVE TRADING
Binance allows you to earn and grow your assets holding even when you are not trading.
You can earn more assets on Binance, whether you trade or not. All you have to do is to buy crypto and activate one of the many features Binance offers.
Select one of the options below.
Binance introduced Binance Launchpool, which allows you to earn crypto tokens from newly launched projects just by depositing your BNB in a liquidity pool. Currently, you can earn Bella Protocol (BEL) and Wing (WING) tokens by farming some of your BNB on Launchpool. Here’s a step-by-step guide on how you can do that.
CREATE A FREE BINANCE ACCOUNT
CREATE A FREE BINANCE ACCOUNT
Another liquidity pool product Binance recently launched is Binance Binance Liquid Swap. This is an automated market maker (AMM) pool product, the first of its kind in a centralized exchange, and it hosts different pools of liquidity that allow its users to exchange crypto assets with minimal slippage and earn a share of the interest generated from joining the liquidity pool.
CLICK HERE TO LEARN MORE
CLICK HERE TO LEARN MORE
With Binance Card, which just launched in Europe and will roll out to more areas soon, you earn BNB rewards when you use it to spend on thousands of supporting merchants worldwide. The cashback rate starts at 1%, and the more BNB you hold in your Binance account, the higher the rate goes, even up to 7%.
CREATE A FREE BINANCE ACCOUNT
CREATE A FREE BINANCE ACCOUNT
Since 2019, Binance has supported the staking mechanisms of several cryptocurrencies. Simply put, storing (staking) your tokens on Binance automatically gives you the benefits of earning from your crypto token’s staking programs. With Binance Flexible Staking, you can earn extra tokens from 25 supported cryptocurrencies, no strings attached.
CREATE A FREE BINANCE ACCOUNT
CREATE A FREE BINANCE ACCOUNT
You can explore Binance Locked Staking and lock in your tokens for as little as 7 days to benefit from higher yields. There are six locked staking opportunities you can explore, all made possible with the participating projects’ staking mechanisms, with annual yields as high as 16%.
CREATE A FREE BINANCE ACCOUNT
CREATE A FREE BINANCE ACCOUNT
With the advent of DeFi (decentralized finance), you can also participate in earning opportunities available for your tokens. For instance, Binance DeFi Staking has launched several products that offer annual yields of as high as 60%, using BNB, USDT, BUSD, and DAI, with more to come.
CREATE A FREE BINANCE ACCOUNT
CREATE A FREE BINANCE ACCOUNT
Binance offers several savings products to store your crypto and earn from the yields they generate. You can go for Flexible Savings, where you can deposit and redeem anytime. You can opt for Locked Savings, where you secure your crypto for several days and then withdraw for bigger interest payouts.
CREATE A FREE BINANCE ACCOUNT
CREATE A FREE BINANCE ACCOUNT
TRUST WALLET SUPPORTS STAKING FOR THE FOLLOWING COINS
The Trust Wallet currently supports staking for the following coins: Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Stellar (XLM), Dash (DASH), TRON (TRX), Polkadot (DOT), Tezos (XTZ), Cosmos (ATOM), Kava (KAVA) and Dogecoin (DOGE).