Crypto staking allows making a profit even without being savvy in trading or mining. It does not require high-tech equipment to receive coins and is an excellent alternative to get passive income in crypto with no expenses on electricity. Crypto staking definitely has a lot of benefits compared with mining.
Staking is the process when you hold your The Best Crypto Staking Coins on an exchange locked and receive rewards or interest in return. Thus, you also help maintain a network operation at a high level.
Those crypto assets that can be staked have a “Proof-of-Stake” protocol consensus in the core. Unlike a “Proof-of-Work” mechanism, here, new blocks in a blockchain are generated due to asset possession approval by users. Those owning enough assets can approve transactions and receive rewards for it.
Staking crypto can be called a new generation of receiving assets after mining. It is less costly, does not demand expensive equipment or computer power, and is considered environmentally friendly.
Many new crypto projects build their products exactly on the PoS mechanism, enabling vast earning opportunities for users in the network. Ethereum developers also plan to switch to the PoS.
Which Coins Can Be Staked
There are numerous cryptos to stake. Every project settles different conditions, rewards, and the period when the coins are locked. Here are the best crypto staking coins:
- The Graph.
All of them are listed on major crypto platforms. We recommend using only reliable services such as Binance, Coinbase, and WhiteBIT crypto exchange. These well-known platforms offer the best conditions for staking crypto.
When choosing the asset, make sure you understand what interest you will receive and what is the lockup period. Once you place your assets on staking, you cannot take them back until the lockup period ceases. Some young projects offer high interest for their coins to attract investors. It bears a higher risk, for the coins rates may drop sharply, and you risk losing your interests. So make sure you work with a reliable project and credible crypto exchange.