Hello crypto world, after my last post about the opportunity of staking solana, i'm keep on looking for good assets to stake to make a good passive income.
A good project to keep an eye on is for sure Atom, the token from cosmos blockchain.
Cosmos uses IBC protocol (inter-blockchain communication) aiming to create the internet of the blockchains.
How to stake Atom?
Is possible to delegate an amount of atom on your wallet to a validator to get staking rewards.
Cosmos blockchain rewards validators with newly minted atom.
There are a few wallets where to stake atom like: trust wallet, EXODUS or guarda wallet just to mention the most known.
I decided to give a try with exodus and that's what i encountered.
-you can choose the amount you want to stake (you won't be able to perform transaction with the staked amount)
-the fee for this operation is close to 0.005/0.006 atom
-as soon as you start staking,the staked amount will start to generate income
-you're free to claim your reward when you prefer
-the fee to pay for claiming is 0.0035 atom
-you can unstake your atom when you prefer but you'll have to wait 21 days from the unstaking call to be able again to use the staked amount
-the fee for unstaking is close to 0.005/0.006 atom.
Pros
-I like staking so much and i love trying new passive income methods.
-Staking is perfect if you are a real hodler.
-Atom is a good pick with a 8.88%apy at the moment i'm writing.
-You start earning as soon as you start staking.
-Staking is made in a cold way with everstake while using exodus. A well known validator is always the right choice if you want to stake.
Cons
-3 different fees involved. To stake, to claim reward, to unstake.
-21 days to wait for unstaking.
I would suggest to stake at least few atoms to cover the fees you will pay, and to leave your coins staked for at least a month or two to make it worth.
What do you think about staking? Have you got some staking gems you are in love with?
Thanks for reading and remember always dyor!
Hodl!
