Contest!!! Benefits in the Staking of Cryptocurrency
Hello Steemians! I'm @abdullahw2 from Pakistan. Well come to my post. How are you all? I hope that you will be doing well by the grace of Almighty Allah. Today I'm here to participate in this amazing contest which is organized by @cryptoloover in the Hot News Community. The topic of this contest is Benefits in the staking of Cryptocurrency. So let's start without any more delay of time.
To be honest I have never invested in cryptocurrency so I can't say something about that question. But some of my friends are investing in cryptocurrency and they say that if you want to invest in cryptocurrency you have to keep your enthusiasm high because sometimes we have to bear a huge loss. And sometimes you can get a huge amount of profit but it all depends on the crypto market.
Well the investment and staking are two different types of methods to earn from cryptocurrency. Investment means buying of any cryptocurrency assets. After buying the assets the investor keep them and after increase in the rate of cryptocurrency he sale them and gets profit. Investing in cryptocurrency is quite risky because sometimes the fluctuate occurs in the market and then the prices get down quickly up to a high rate. Which results in loss for a investor.
Staking is quite different from the investment in cryptocurrency. In this process a user holds the cryptocurrency and then stake it and in return he gets rewards. Through staking a user can also support any of Blockchain system like Steemit. Through staking the stakers can validate their transactions and add a new black In the Blockchain network. There is also a possibility of risk in the staking process.
As we all know that Steemit is a decentralized social media platform which also provide the staking of Steem tokens in the form of powering up. Through this process the users can convert their earned rewards into power up. Yes I also like to stake Steem tokens outside and inside the Steemit platform. This is because there are many benefits of powering up process and staking of steem token in the Steemit platform.
Through power up the users can effectively participate in the consensus and maintainNance of that platform. It also increases the possibility of getting the rewards from the reward pool for the Steemians. Having more Steem power more the chances of getting votes and support from the Steem curators. Due to that reasons I always feel love to stake Steem inside the Steemit platform and in this regard I'm powering up all my earned rewards since the first day at my platform.
Staking in cryptocurrency provides many benefit to his users. Some of them are given below.
The cryptocurrency staking provide its users to earn a reasonable income by holding and staking the assets of cryptocurrency.
Staking of Cryptocurrency in different platforms like Steemit the stakers can get some additional rewards from the team of that platform.
Stakers actively take a part in the stability of that platform in which they stake their cryptocurrency. Through this they can support any of decentralized platform and earn rewards.
- Holding the cryptocurrency is also very easy and there is no chances of robbery and losing the earned rewards from staking.
So friends that was my entry about that topic.I hope that you will like it. At the end I'm just wanna say thanks to all respected members and the moderator of the community. I want to invite my friends @sahmie , @rezvan, @thomisin,@yourloveguru,@ghazalach,@hasina78 @mateen005 and @wasa2020 to participate in this amazing contest.
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Well earning big in crypto staking required big amount of crypto you can't stake $50 and expect to earn $10 daily.
Thanks for these great article anyway, wish you all the best.
Thank you brother for your valuable comment ☺️
You're welcome dear friend.