Did you know that you can gain passive interest on your cryptocurrencies by staking them? It's similar to putting money into a savings account and earning interest on it.
While mining and forging are fundamentally identical, staking has some distinct advantages.
1 ) It's possible to do at exchanges.
You can directly stake your cryptocurrencies at an exchange now. This service is not available on all exchanges, but it is available on the majority of large exchanges.
If you're a seasoned cryptocurrency trader or investor, you might argue that storing your coins on a cryptocurrency exchange is a no-no.
However, since people are able to take chances due to their complacency, this feature would appeal to a large number of users.
2 ) Cold staking make it easy
Another interesting feature is the ability to stake your cryptocurrencies ‘cold,' that is, without them being actively connected to the internet all the time.
This means that when this feature is activated, you can leave your cryptos in a wallet. After that, you earn passive interest while you're asleep.
This is extremely useful and will make staking much easier.
3 ) Staking takes less energy.
Finally, staking would require less computing power, resulting in lower energy consumption. When we realize how much mining consumes energy around the world, this will be a huge win for the cryptocurrency room.
For example, Bitcoin mining consumes more energy than the country of Switzerland in terms of current mining competitiveness.
This will be partially due to cold staking and the fact that staking use much less computing resources than comparable mining nodes.
I stake of my 25% crypto portfolio on SnapBots, they have good rewards as well as their services are very huge opportunities. The most interesting is that they use a bot with AI and machine learning to trade by their staking option.
Additionally, you can stake with major cryptocurrencies on SnapBots. You can sign up here!
I would suggest that you look into staking because it is simple to do and can be a good way to make some extra income. Especially with cold staking and other easy to start with staking options.
What is your favourite staking coin? Share with us below!
*However, crypto asset investing, trading, staking can be considered a high-risk activity. Please use your extreme judgement when making the decision to invest in, sell, or to stake Crypto Assets.