There are many ways to grow and earn cryptocurrency nowadays. So what makes staking a good choice among many options? Here are 5 reasons why you should start staking at this moment.
1. Proof-of-Stake is the New Mining
Proof-of-Stake consensus mechanism has many advantages over the Proof-of-Work mechanism. It is more cost-efficient because it does not require high energy cost to run ASICs machines, which itself is relatively expensive.
2. It Earns You Rewards Frequently
Staking generates reward blocks very frequently. Each coin will have different reward frequency however no coin has a reward distribution cycle over 20 days. In which, we conclude, give you more frequent ‘interest’ compared to banks.
3. It is a ‘Play It Safe’ Sphere
Staking is a very risk-averse choice for an investment. It is perfect for you who do not have knowledge about cryptocurrency trading, where you might lose all of your assets due to volatility nature of the market. Once you stake, you will receive a constant and guaranteed reward in return. Staking is a good source of passive income as it is predictable. Furthermore, the coin you stake will belong to you forever, which means you can have your money back in full amount of initial stake.
4. Long-Term Gain Potential
Staking also promises a long-term gain potential for its hodlers. Although cryptocurrency market is very volatile and sometimes unpredictable, the overall coin value is increasing in long-term time horizon. That is if you made the right coin choice (not scam coins!). With the rewards added to your account and the increasing value of the coin you hodl, you are compounding your crypto asset!
5. It is Available for Everybody
Staking is very easy these days thanks to Staking-as-a-Service (SaaS) platforms such as Honest Mining. Through our platform, users can start staking with minimum investment and earn rewards without effort.
Are you ready to start staking? Check out how to stake and start building your cryptocurrency stake folio on Honest Mining. Let us generate rewards for you while you sleep!