What is Crypto Staking and How to Stake Crypto?

What is Crypto Staking and How to Stake Crypto?

Bitcoin hit a record high price in April 2021 which intrigued many to invest in crypto. Even though the value of crypto assets are volatile, many see crypto assets as a long-term investment.

One way to earn profits from the crypto assets which is relatively easy and does not require any skill sets is to stake crypto. There is an increasing number of people who are looking at crypto staking as the safest way to earn profits using their crypto assets, especially by investing their crypto assets on DeFi platforms. As more become financially savvy, there is a growing number of investors on the lookout for good investment opportunities as well as opportunities to earn passive income such as through crypto staking.

What is crypto staking?

Crypto staking is a way of earning profits by participating directly in the transaction validation system that occurs in the crypto blockchain system that uses the Proof of Stake (Pos) algorithm. The PoS algorithm acts as a validator of all transactions that occur in the blockchain system based on distributed consensus. The more crypto assets that are ā€œlockedā€ in the wallet, the higher the influence in the blockchain system. From there, users have a higher chance to earn profits by taking advantage of this position.Ā 

Anyone who has a minimum balance in the blockchain system can validate transactions and get rewarded. Simply by locking your crypto assets on a staking platform like Tokenomy Earn, anyone can participate in decision-making on the network. From there, if you successfully validate a transaction, there will be prizes that can be obtained in the form of coins or interest payment on your digital assets which are deposited as capital.

Staking Crypto on Tokenomy Earn

Interested in staking but don’t know how to get started? You can do so easily with Tokenomy Earn. As a crypto investment platform that has been legalized by the Labuan Financial Services and Security Act 2010 (LFSSA) in Malaysia, Tokenomy is regulated and secure so you don’t have to worry about the security of your invested assets.

In addition, with Tokenomy Earn, you do not need coding skills or a high set up cost to earn profits. All you need is to lock in or store assets in a crypto wallet and choose the type of asset you want to stake. Currently, there are several assets that you can choose to stake crypto on Tokenomy namely Tezos, Ethereum, Polkadot, and Tron. Each option can provide a profit of 3-5% and profits are distributed daily or weekly. For example, if you want to stake Ethereum assets, you will only need to deposit with a minimum asset of 0.001 ETH, which will earn you a daily staking reward of 5% interest per year.

How to Stake Crypto on Tokenomy Earn

First, register an account and complete the verification process. Once that is completed, you can access your Tokenomy Earn dashboard and go to the staking tab option to select the desired asset. Once you have deposited the minimum amount of the specified asset required, you can start staking and earning daily or weekly rewards. Good luck!

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