Cryptocurrencies are digital money not connected to central banks or government decisions. Their emission is not similar to the way traditional money is received. They cannot be issued in a larger amount, and their prices are not depending on the government’s decision. So how are digital assets received, and where do they come from? Let’s talk about it here.
There are two ways to receive crypto:
Mining is the way Bitcoin is received. It implies complex equipment that solves math tasks and generates every block in the blockchain. This method is becoming more and more complicated over time. Mining requires expensive computers and their regular maintenance, electricity expenses, etc.
What is crypto staking? It is the way to receive coins that has nothing to do with expensive equipment or electricity cost. All that you need is a PC and the Internet. Staking crypto implies locking your crypto coins in some staking program for a certain period with the purpose of receiving rewards in the form of additional coins after the period expires. That is a simple way of making passive income without facing risks, as in traditional crypto trading. The most important here is to pick a good asset and a reliable crypto exchange.
Crypto Assets for Staking Crypto
We recommend picking those coins that have the smallest volatility level. Pick from the most popular crypto. Some digital assets are based on the Proof-of-Stake protocol (for example, SOL), while others are based on the Proof-of-Work protocol (BTC), but both can be used in staking through a staking platform.
A Platform for Staking
You can pick, for example, WhiteBIT. It offers several options for staking crypto – programs that vary by the period of staking and the coins staked. The platform offers the best crypto staking rates for staking ETH, BTC, XLM and other cryptocurrencies.
Note that it is impossible to withdraw your coins from a staking program before its period expires, or if you do, you will not receive rewards. So be careful when reading staking conditions and entrust your funds to only reliable and reputable platforms like WhiteBIT.