Staking - The Best Way to Earn Passive Income

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Among all the methods to earn passive income on crypto coins, staking is the best one I know. 

It is safe, reliable, but also very easy even for those not so tech-savvy. 

 

 

What is Staking? 

 

Some cryptocoins require mining to validate transactions on the blockchain, while others use a different mechanism called Proof-of-Stake. 

This protocol aims to give stability, scalability, and security with minimal energy requirements and low fees. 

 

 

Why Staking is safe

 

As an example, let's consider Cardano, the current king of staking. 

It has a Proof-of-Stake mechanism called Ouroboros, where stake pool operators validate ADA's transactions. 

Since Cardano (and other similar blockchains) works through staking protocols, it is very safe to stake coins. That's because this how such blockchains operate. In other words, developers programmed the cryptocoin to work through P-o-S.

So, no staking = end of Cardano (and other similar blockchains as well).

While it's theoretically possible that in the future developers could change the protocol, it is highly unlikely, because Proof of Stake works very well, requires far less energy than mining, and also because changing so abruptly is not a good marketing strategy. 

 

Staking coins is safe because your coins will not leave your wallet. You just use them to delegate staking power to pool operators. No actual transaction is involved, and usually, you can un-stake at any time. 

 

Passive Income

 

A percentage of what pool operators earn is given to the delegators, i.e. the users who decided to stake their coins with such pools. Usually, that money is sent automatically to users, with no further action needed. So you have to just stake once, to get a constant passive cash flow.   

 

 

How to check for staking statistics? 

 

How much you can earn and when you will be paid depend on many different factors, such as the coins you stake, the pool you choose, and so on.

But there are many resources you can use to check staking facts and then act accordingly to the data. 

I can suggest you to use https://www.stakingrewards.com/

 

Here you can find various data about staking. For example, here are the Top 6 Crypto Assets by Staked Value:

 

 

 

 

 

While here are the top coins by reward (%):

 

 

 

 

You can use a calculator as well, to check the return on your investment. 

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