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Hello everyone,
I'm very grateful for @imagen for this class where ways of getting income and money from crypto-currencies have been explained very well.

This post is absolutely prepared originally and based on the tasks underlisted from the class.
I'm discussing on STAKING

• WHAT PLATFORM DID I CHOOSE, Reasons and other services do they offer?
• Explain the process involved?
• What will be my profit?

STAKING

This is One of the ways of earning money from the Crypto-currencies. It is holding of the Crypto-currencies in a #trust wallet for a stipulated period of time for the support and enhancement of the Blockchain technology with a view to be rewarded with certain digital coins at the end of the staking period.

It looks like the mining because the resources (i.e, the staked coins) will be helpful to the Blockchain to get more of the coin and promote sustainability. Even, the consensus mechanism of Ethereum Which is POS (PROOF OF STAKE) applies this beloved principle. In POS, the process of mining is more eco-friendly, less energy consumption and high degree of decentralization.

In Decentralized wallet like trust wallet, staking is common but in exchange platforms, it is one of the vital financial services, some of them offers. But to me, I usually use #exchange platform for my staking. I prefer BINANCE STAKING.

PROCEDURES/STEPS FOR STAKING ON BINANCE.

STEP ONE

This is HOMEPAGE On Binance app after launching the application. Click on the CIRCLED MORE Button and see more.

STEP TWO

On this dialogue page, the services from binance as noted above of the pages indicated. It's categoried. But my attention is focused on financial services, locate and click on CIRCLED STAKING Button.

STEP THREE

Since I already knew the coin to staked. I search for it and find the coin #cake. Why cake? Because of it's high Annual interest Rate of 37.49 and it's a fast rising one of Allcoins. Very fertile ground for staking.

I also have a 1.6 cakes gotten from my Ether exchanged. I wanted to stake for 15 days and after I clicked STAKE NOW.

STEP FOUR

Here, more details for the staking on cake is displayed. The amount, the AYR and the duration. You have to fill in the amount to be staked.

STEP FIVE

Successfully, I have completed the staking procedure.

REASON FOR USING BINANCE STAKING?

Binance is one of the reputable exchange platforms in the crypto-world. It offers great staking offers with interesting options. It's a reliable exchange platforms with very wide variety of digital coins for Trade. It offers a great P2P Trading Which we, Nigerians are using since certain ban from our central bank on Cryptocurrencies.

OTHER GREAT SERVICES OFFERS OFFERS FROM BINANCE!

As shown above, apart from staking, there are many other services, where one can earn more coins and money:

• SAVINGS
• CRYPTO LOAN
• POOLS
• LIQUID SWAP
• DUAL INVESTMENT
• BNB VAULT
• CARD

EXPLAIN THE PROCESS INVOLVED?

I suppose to buy the coin as investment plan of less than $15 as stipulated in the rules for this homework by @imagen but it's not possible because of the banning act from our apex financial institution in Nigeria, CBN. There's no option to deposit as shown above in the picture due to that ban.

Alternative

Another alternative was to engage in trade with already BTC in my wallet to buy corresponding coin - cake for the stake.

What will be my profit?

There are more to benefit from this act. The annual interest rate is 37.49% while I staked 1.69cake. it will be roughly appreciate over 6 cakes for 15 days period. It's a great investment with wonderful profits with less challenges. I really want to grow my investment portfolios. This is a great push.

CONCLUSION

Cryptocurrency is the modern means for transaction. It can also serves as capital to make more money and profits with less worries and challenges. These ways like staking offers a great means to earn more financially.