Staking crypto is an unknown but valuable alternative to anybody who trades cryptocurrencies. While the crypto market has grown exponentially over the last few years and many people have benefited from this, there are also different options to earn money from crypto coins, and today we are going to introduce you to the best staking crypto platforms.
Before we start, one thing must be clear to everyone who wants to work with staking: the coins that you use for regular trade will not always be the same as the coins you want to do staking. While both methods involve cryptocurrencies,
What is staking crypto? How does it differ from regular crypto trading?
Staking crypto means you are going to earn money by simply possessing certain cryptos in your wallet. This happens because the blockchain needs certain cryptocurrencies to support its network and confirm the transactions.
Crypto coins that provide staking are those that utilize the proof-of-stake (PoS) method to process payments, unlike the proof-of-work method where you have to mine devices and utilize computer power to acquire coins. It’s a great way to earn some additional money through passive income, as the transactions will be added to the blockchain.
Bitcoin, the major, cryptocurrency uses Proof of Work in its blockchain. Ethereum, the second-largest cryptocurrency, plans to release ETH 2.0 using Proof-of-Stake. This will be a major shift for Ethereum, but those who want to do staking with Ethereum are due to pay a hefty price: according to their own website, users will need to stake 32 ETH to become a validator.
Is Proof-of-Stake better than Proof-of-Work?
There are a lot of advantages for the Proof-of-Stake mechanism compared to the Proof-of-Work mechanism, such as:
- Better use of energy, because you will use fewer mining blocks and, consequently, less energy;
- Fewer hardware requirements, because you will not need a fantastic computer to create new blocks (remember when the price for a new computer went sky high as result of more Bitcoin miners? Proof-of-Stake gives a better chance for those who are not so lucky in that matter;
- More nodes in the blockchain network with a stronger immunization to the centrality
So, basically, some cryptocurrencies earn extra income for you because the blockchain makes them work. Many popular cryptocurrency exchanges use the Proof-of-Stake method, not only Ethereum, so you will not have much trouble finding the best staking crypto.
Ethereum is not the only popular, major coin that uses proof-of-stake as a mechanism. Some other cryptocurrencies that operate with Proof-of-Stake and allows for staking crypto:
- Cardano (ADA), an environment-friendly coin with 4-6% yearly rewards
- Polkadot (DOT) isa coin where you earn your rewards through slot auction and where you basically can earn money by supporting other projects. The yearly rewards are up to 14%
- Tezos (XTZ), launched in June 2018, where the staking process is called ‘Baking’, rewarding owners who stake their coins. You can earn from 4% to 8.5%
- Polygon (MATIC) is a very affordable coin, so you won’t have to spend much before starting staking.
Most of the coins allow you to stake in diverse platforms, such as Binance, Kraken or Crypto.com
If you decide to stake a cryptocurrency, it doesn’t mean that they’re not in your possession anymore. Basically, you’re putting your cryptocurrencies to work, but they’re still yours, and in case you want to do regular trade with them, you can just “unstake” them.
Since they’ll be working, it’s not a 100% guarantee that it will be an immediate process to “unstake” them - especially because some of the cryptocurrencies require a minimum amount of time when you decide to stake.
The best Telegram groups to find Crypto signals and stake my coins
Throughout this article, you have learned what it means to stake crypto and how it works. Let us dive right into the part that everyone was searching for when they clicked on this article – where to find the best staking crypto coins.
The best group, indeed, to get crypto signals is Fat Pig Signals. You can find two different approaches – one, on Telegram, which is totally free for all subscribers and the other, paid, with all the VIP traders.
Signal providers that share their results make a statement of their trustworthiness. Fat Pig Signals is the best group available because they present long-term stability – with daily different calls.
Fat Pig Signals offers different options for the ones who want to be VIP users, as you can easily check out.
So, want to get the best staking crypto? Join Fat Pig Signals and get the best calls. It is extremely hard to keep up with cryptocurrency market. Anyway, there are opportunities all the time to do so.
That is why the best way to keep track is with crypto signals groups. You do not want to miss when there is a chance to get some extra money, do you?
Cryptocurrencies are in the spotlight right now and the possibility to earn extra money by staking crypto is insurmountable. Consequently, the more guided you are, the less risky it will be.
So, why not learn how to make wise decisions and have some extra cash in your wallet? Leave us a comment on the topic of staking crypto.