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So, how would you like to earn income while you sit and do nothing?
Welcome to the world of cryptocurrency staking.
Staking crypto is the process of committing your coins to support a blockchain network’s transaction validation.
In a nutshell, you’re basically locking your coins, like you would money in a fixed account, to earn a specified interest or reward.
This method of earning passive income only works with proof-of-stake blockchain models. So, you can’t really do that with Bitcoin as it uses proof-of-work.
So, how do you stake?
Well it’s a little different from coin to coin, but you essentially buy your coins and then either hold them in your wallet or add them to a pool.
Your coins are still in your possession when you stake them. You're essentially putting them to work, and you're free to unstake them later if you want to trade them.
Some of the best staking platforms to earn high rewards currently include Binance, Coinbase, and Kraken among others too.
With that said, what are the hottest staking coins you can buy right now?
Stay tuned as I count down on the top 7 staking coins at the moment.
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AFFILIATE DISCLOSURE:
This description contains affiliate links. If you decide to purchase a product through one of them, I receive a small commission at no cost to you.
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