How to make Money from Cryptocurrency through Staking?

in staking •  2 years ago

Hi everyone,

Today we will discuss on how to make money from staking cryptocurrency.

What is staking?
Sometimes Staking is also called Proof of Stake.(POS). Not many people really understand how Proof of Stakes works...

Proof of Stakes involves buying the coin and keeping in the wallet for a certain fixed period, just like putting money in a fixed deposit for a fixed period.

For Fixed deposit, you will be paid an interest as a reward.
For Proof of Stake, you will be paid additional coins as a reward.

The factor determining the amount of reward is as follows:

  1. Maturity Period
    The longer the time, the higher the reward
    3 months 20%
    6 months: 50%
    12 months: 100%

  2. Simple or Compound Interest.
    Reinvestment is allowed after the expiry of the coin
    For compound interest, you can can reinvest your reward.

Advantages of Staking:

  1. You do not need to spend money buying a machine.
    Just use the money that you would have used to buy the machine and buy the coin and wait for the wallet balance to grow. the value of the coin will grow at the same time.

  2. You can guarantee to make money.
    The price of coin grows at the same time and the number of con in the wallet increase too.

  3. You may mine the coin too.
    The amount of coin that you can mine depends on the amount of coin you have in your wallet. It is like having a strong bank account in your personal computer.

Disadvantages:

  1. Once you stake a coin, you have lock in the coin for a certain period. You cannot sell the coin.

From the Wikipedia,

Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. Unlike proof-of-work (PoW) based cryptocurrencies (such as bitcoin), where the algorithm rewards participants who solve complicated cryptographical puzzles in order to validate transactions and create new blocks (i.e. mining), in PoS-based cryptocurrencies the creator of the next block is chosen in a deterministic (pseudo-random) way, and the chance that an account is chosen depends on its wealth (i.e. the stake). In PoS cryptocurrencies the blocks are usually said to be forged (in the blacksmith sense of this word), or minted, rather than mined. Also, usually all the coins are created in the beginning and the total number of coins never changes afterwards (although there are some other versions of PoS where new coins can be created). Therefore, in the basic version of PoS there are no block rewards (e.g. as in bitcoin); so, the forgers take only the transaction fees.[1]

Example:

Bixc - This is a new undervalued Cryptocurrency that you can stake Now:

Find out more at :
https://www.facebook.com/billionexworlds/

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https://stakingrewards.com/ is a great site to track all staking coins

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://en.wikipedia.org/wiki/Proof-of-stake

It is a great way to earn passive income. I own shares of a dash masternode and am leasing waves.

Please reply if you know of some others.

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you can invest in bixc ...now price is usd10 an expect to to usd 20 in 12 months.....if you stake for one year, you can 100% extra coin.

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wow u must be RICH AS FUCK MAKE THE old cabal faggots wanna go fuckoff into a wormhole yea run u pussies fnny thing is alot already left aka secret space program

If ya'll want a strong investment plan visit https://bitpetite.com/?aff=kipling(bitpetite)

You can invest your BTC, ETH, LTC and or XMR into bitpetite for either;
6 weeks - 4.5% daily and 1 % on weekends. Total return - 147% (47%, 100% being your original investment)
9 weeks - 3.6% daily 1% on weekends. Total return - 180% (80%, 100% being your original investment)

Go for gold and change your life likes its changed mine.
Bite the bullet!
Good luck and happy investing :)

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Haha gotta love all of these bitpetite.com links floating around when the owners made off with €700M by just taking everyone's money.

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Agreed! Any so-called investment that promises returns of 1%, 5%, 10% daily is a scam. If they pay out anything, it is just to fool a few early promoters who will then bring in more people to cheat. Also, the line "change your life like it's changed mine" is very common for online rip-offs. If you see it, stay away.

https://steemit.com/staking/@cashrich/how-to-make-money-from-cryptocurrency-through-staking
id extemly recommend it its way better then even a credit union in terms of interest %
like it makes them quite laughable ive already like over X6 the money i put into my staking wallet

Easy way to stake just depositing at Btcpop.co
COIN SLOT.gif

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of course great site