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What is staking
Staking is becoming more and more important in the crypto market .
How does staking work?
Earn passively with crypto
When staking, crypto holders use their existing coins to advance the blockchain, in return they receive rewards in the form of coins. The benefit of staking is that it uses less energy than traditional mining.
If you want to generate passive income, this is the place for you.
How do I stake?
The so-called staking only works with coins that use the POS (Proof of Stake) principle, Bitcoin is not one of them because it uses the POW (Proof of Work) principle. At the POS, users offer coins as security, which means that they do not have access to their coins for a certain period of time. To do this, they can add new blocks to the blockchain. Who gets to use the next block is decided at random, so whoever has more coins has a higher probability of adding a new block. The most popular coins with the POS method include Cardano, Ethereum 2.0 and Polkadot. The rewards are usually between 7 and 45% per year, which is of course extremely high compared to other asset classes. If you want to do staking, you can do it on your own, but it is not suitable for beginners. Beginners should stick to the established exchanges that also offer staking, including KuCoin , Binance , and Hotbit .
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