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      Koda Cryptocurrency – The Benefits Of Staking Crypto

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      Nov 24 2021 | By

      One of the most important things to know about staking crypto is that not all cryptocurrencies allow it. If your cryptocurrency does allow staking then you will be able to ‘stake’ some/all of your crypto holdings. You can then earn a percentage-rate reward over a flexible or set period of time.

      This will often happen in something called a ‘staking pool’. A staking pool is similar to an interest-bearing savings account for example.

      Your crypto could earn you rewards in this way because whilst it is being staked the blockchain puts it to work. A ‘consensus mechanism’ is used by cryptocurrencies that allow staking. This is also known as ‘proof of stake’. Proof of stake is the way that all transactions and verified and secured without a bank or payment processor acting as the middleman.

      If you choose to stake your crypto coins, then they become part of the process. There are benefits to staking crypto. We share them below so you can decide if staking crypto is the right investment decision for you.

      • Crypto staking is an easy way to earn interest on your cryptocurrency holdings.
      • When it comes to crypto staking you don’t need any equipment, unlike when you are crypto mining, and a lot of equipment is required.
      • Through crypto staking you are helping to maintain the security and efficiency of the blockchain.
      • Crypto staking is more environmentally friendly than crypto mining.

      There is one primary benefit of crypto staking. This is that you can earn more crypto. The interest rates on crypto staking can be very generous too. In some cases, it is possible to earn more than 100% or even 200% per year. Many investors choose crypto staking as a potentially very profitable way to invest your money. The only thing you need is a crypto coin/token that uses the proof of stake model and you can start crypto staking.

      Crypto staking is a really good way of supporting the cryptocurrency that you are investing in. These cryptocurrencies that allow staking rely on holders like you to stake their crypto. This helps verify transactions whilst ensuring that everything is running smoothly.

      Want to know more about the benefits of staking crypto? Contact our friendly team today!

       

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