Crypto Staking: How to Get Passive Income
28 Octobre 2021 - 1:12PM
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The world of crypto offers its investors a variety of ways to
increase their earnings. While some invest in mining to increase
their holdings, others opt for crypto staking instead. Crypto
staking is the process of “locking up” a piece of your
cryptocurrency to contribute to the blockchain network over the
long term in exchange for a return on their investment. What is
Crypto Staking? As the need for more efficient and cost-effective
transactions processing became more prominent, a consensus
mechanism Proof of Stake has emerged. Instead of relying on miners
solving complex maths problems, it validates transactions by people
who are invested in the blockchain. Essentially, the users put
their tokens in for a chance to add a new block onto the blockchain
in exchange for a reward. And their staked tokens act as a
guarantee of the legitimacy of any new transactions. Interestingly,
the system automatically chooses validators based on the number of
tokens staked and how long the user has held them. So, the more
invested a user is, the more rewarded they can be. Benefits of
Crypto Staking Apart from creating a passive income stream, crypto
staking has several advantages. It does not require any additional
investment into hardware like Proof of Work does; It is a more
environmentally friendly way of validating transactions; It
contributes to the blockchain’s security and efficiency; It can
have a very high APY, depending on the project. What is KokoStake?
KokoStake is an example of a staking programme that offers its
users a considerable return on investment. This staking platform
was developed by the KokoSwap ecosystem. KokoSwap is a
one-of-a-kind platform that integrates the greatest use cases of
NFT trading, NFT gaming, and staking. It is a one-stop crypto
platform where users can stake and purchase digital assets while
having fun playing games. KokoStake enables users to stake Ether or
KOKO tokens to earn high yearly interest and generate passive
income. The staking program lasts two years and has a one-year
minimum staking duration. Final Words Staking can be an effective
technique for crypto investors to earn interest and incentives on
their assets. Additionally, it can introduce users to the
governance and validation aspects of blockchain networks, which may
be of interest to certain investors. Staking is similar to owning a
stock and receiving dividends, or even as depositing money in a
bank and earning interest. It can be seen as a low-effort method of
growing funds, but just like any investment, it requires some due
diligence and research. About KokoSwap KokoSwap is a unique
platform that combines the thrill of NFT gaming with the advanced
rewarding functionalities of Decentralized Finance. The platform
offers the ability to trade, invest, earn, play, and win with key
features such as NFTs, staking platform, and NFT gaming. KokoSwap
has always been proactive in sponsoring various NFT events and has
helped several famous artists launch their NFT collections
available on an invite-only marketplace. Apart from the NFT
marketplace, KokoSwap’s NFT gaming is a great tool to earn $KOKO
tokens and generate passive income sources by staking digital
assets such as Ether and $KOKO.
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