Goods for Staked Crypto: What Is Commodity Staking?
25 Novembre 2021 - 4:28AM
NEWSBTC
In March 2021, MinePlex — a new-generation mobile crypto bank —
launched a product called the MinePlex Marketplace. This
marketplace gives users the ability to buy products they can’t
afford straight away through the simple act of Commodity Staking.
Say you want to buy the latest iPhone or MacBook Pro, but it’s too
expensive right now. Making a purchase through commodity staking
solves that problem. In this article, we take a closer look at
commodity staking, and how it solves the problem of making high-end
consumer products more affordable. What is staking? In the
cryptocurrency sector, staking is a way of investing in new
blockchain technologies, coins, tokens and currencies. Investors
agree to commit a fixed amount for a fixed period, usually when
investing in a new coin or token. Crypto and blockchain startups
launch these tokens through private and public token sales (e.g. an
ICO), often raising millions to fund future growth roadmaps.
However, unlike with crowdfunding, equity or debt-based angel and
VC financing for startups, crypto investors almost always get
returns for staking a percentage of the required investment. Crypto
investors don’t need to wait in the hope for a startup to achieve
an exit event or at least start generating a profit before getting
something back for the initial and any follow-on investments. When
crypto investors ‘stake’ a cryptocurrency, token, or
blockchain-based startup, there are usually a series of rewards
available for those contributing to the startup capital. Generally
speaking, the more an investor puts in, and the longer a stake is
held, the greater level of rewards earned. Rewards are usually
earned through what’s called a ‘staking pool.’ Think of this
similar to an interest-earning savings account. As an investor, you
gain a percentage of the income invested over time, and as the
investment vehicle grows (e.g. a token, coin, or blockchain-based
startup), the amount earned back should exceed the original
investment. Cryptocurrencies and other startups that use staking
mechanisms put that investment to work. A consensus mechanism,
known as the “Proof of Stake” is integral to the way a startup or
cryptocurrency functions. What is commodity staking? Commodity
staking takes the concept of staking, but applies it in an
innovative way. Making it possible for people to buy products they
want using crypto commodity staking. You agree to commit a fixed
sum of money into a staking pool, whereby your reward is the
purchase price of the product you want to buy. This is a MinePlex
innovation, and something users on MinePlex can start doing right
now. Now let’s take a look at how people can now buy a growing list
of products using crypto commodity staking. How can you buy goods
using crypto commodity staking? Using the same concept as staking
in return for rewards, commodity staking for goods is an innovative
new way to buy things over a fixed period of time, if the purchase
price is too high for a customer. You can only do this through
MinePlex, which has created this exciting new staking-based
purchasing solution for crypto users, giving shoppers an
alternative way to buy the things they really want. MinePlex, a new
generation mobile crypto bank, has opened a marketplace where
registered users can buy products — such as smartphones, computers,
furniture, etc. — through a simple staking mechanism, similar to
investing. Imagine a phone you want to buy is $1200. But you only
have $500 spare. Where can you get that extra $700 from? Borrowing
money is going to cost interest, say anything from 12% all the way
up to 50%, or more! Making whatever you want to buy even more
expensive, with the only advantage that you can get it straight
away. With commodity staking, you don’t need to wait to save out of
your income or borrow more. That extra $700 can be earned from
commodity staking, a new CrossFi MinePlex is pioneering. Using the
example of that $1200 smartphone, this is how commodity staking
works: Choose the product you want on the MinePlex Marketplace (you
need to be a registered user first): https://mineplex.market/ Put
the $500 goes into staking to earn enough for the remainder, the
other $700 needed to buy the phone. Once enough interest is
generated from staking to cover the total amount, $1200, the
product is yours and will be shipped out. It’s as simple as that!
No need to borrow money for the products you want. A growing list
of products is being added to the MinePlex Marketplace every day.
Giving anyone the ability to stake funds and purchase them with
PLEX Tokens, the native crypto-token of Although it means waiting
for the staking period to end, the more you put in, the shorter the
wait. Commodity staking will make buying high-end consumer products
more achievable for a worldwide community of 200 million crypto
users, investors and enthusiasts. “Commodity staking allows you to
purchase a product for a part of its cost. After making the
payment, the product can be picked up at the end of its staking
period. The lower the contribution from the cost of the product,
the longer the staking period and vice versa”, MinePlex said in a
press release to Bloomberg. Image: Pixabay
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