Discover How Crypto Traders Are Benefitting by Holding Crypto
Have you noticed what is happening in the crypto market and wondered if maybe now is the time to start investing, but at the same time wondered if the frequent ups and downs in price could make investing in crypto too risky? If this sounds like you, you may want to explore crypto staking, an investment strategy that lets you get more from your crypto holdings just by holding your crypto. Staking isn’t affected by the natural swings of the market so you can gain whether the market is gaining or losing.
Earn staking rewards
Crypto staking – the basics
At its simplest, staking is like mining. Like gold staking of yore, crypto staking is a way to build on the value that already exists; though not in riverbeds or in mines, with pickaxes and heavy machinery, but in the crypto you already hold in your portfolio.
How, then, do you benefit? Staking is a fundamental part of blockchain operations and supports the network of the token being mined. The benefit, or reward, proffered by the network, is a bonus given for your investment. The reward is not in cash, or gold, however. It is a reward extended in addition to the held cryptocurrency. Staking ADA? Your reward is more ADA. At eToro, staking is rewarded in automatic monthly payments depending upon the percentage yield. In this sense, crypto staking is less like gold mining and more like an interest-bearing savings account.
Cardano (ADA) Staking
Cardano (ADA) is an open-source blockchain project built on peer-reviewed research. Public and decentralized, it supports smart contracts, and its cryptocurrency is known as ADA. Launched back in 2017 to offer a fast and secure blockchain platform, Cardano’s July 2020 Shelley upgrade was undertaken to enhance the crypto’s commitment to decentralisation and autonomy. Another important feature of the move to the Shelley era, especially for ADA traders: the beginning of staking for ADA.
At first glance, Cardano staking looks like the staking systems of other cryptocurrencies: hold and stake the cryptoassets to help the token’s network and get compensated for your participation. However, Cardano is quite different in one crucial aspect: the system, in an effort to make certain there are a sufficient number of node operators within its realm, does not approve solo staking. Thus to partake in ADA staking, you must choose to set up and facilitate your own ADA staking pool, opening it up to other member investors who entrust their holdings to you, or join another staking pool, delegating your ADA assets to their pool.
Cardano Staking without the Hassle
If you decide running or joining someone else’s staking pool is nor in your future – nor in your best interest – how can you reap the benefits of staking Cardano? By trading and holding your ADA on a platform like eToro. Trusted and secure, eToro was one of the first regulated platforms to extend staking for Cardano (ADA).
With eToro’s new staking service, you can earn Cardano rewards automatically every month just by holding your crypto on eToro. Your crypto tokens remain yours – held in your portfolio like your other investments – reaping the rewards of staking without your taking any action whatsoever. Executed entirely, securely and transparently by eToro, your staked Cardano is reaping some of the most generous rewards in the market and is executed with 100% transparency. When you stake crypto on eToro, you will know exactly how your monthly rewards are determined.
Start staking Cardano on eToro
Staking TRON on eToro
Cardano is one of two cryptoassets currently supported on eToro – the other is TRON (TRX). “We are thrilled that eToro has chosen TRON as one of the first assets to be offered on their new staking service,” said TRON’s founder Justin Sun. “Services such as eToro’s new staking service takes the complexity and confusion out of the staking process, and makes it accessible to everyone.” As with Cardano, staking TRON offers users the ability to reap monthly staking rewards just by holding TRON on eToro’s trading platform.
Start staking TRON on eToro
Check out eToro’s entire offering of seamless crypto services.
Sign up and open an eToro account for free here.
Cryptoasset investing is unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk.
Image by PIRO4D from Pixabay
OhNoCrypto
via https://www.ohnocrypto.com
Guest Author, @KhareemSudlow