Currently making money is no longer only sourced from work, coupled with needs and expenses that continue to increase every year, then you need to find ways to earn extra money. One of them is by staking coins to get passive income from crypto assets. After seeing dan hollings crypto, you may have an interest in learning to invest in crypto.
This is one alternative, where you can get additional income or income, more precisely passive income from crypto, by depositing these funds. So the motto here is to earn crypto while you sleep, this is similar to bank deposits. So, you put the funds and get the interest.
So in simple terms, coin staking is the process of locking crypto assets through a wallet within a certain time frame to get a reward or profit.
Staking is simply put, you have coins that you keep in your wallet. That later you will lock or be locked for a certain period, later you will get interested. But for this lock staking, usually for coins that are not well known or commonly referred to as altcoins such as XEM, KAVA, ATOM whose liquidity is small and very volatile.
By staking coins, you can generate passive income or profits without having to do trading or mining activities on crypto assets. Staking coins is also considered to have smaller risk when compared to trading or mining activities.
Reported through various sources, here are ways you can consider before staking coins.
Define crypto assets
To staking coins, you need to first determine which crypto assets are good and the potential for staking coins. You can also access the coinmarketcap.com page for information about the coins that are currently popular.
Make sure that the wallet used is appropriate because the wallet is where you store assets or funds that will be used for staking coins. In this process, you can use solo staking, staking pool, exchange.
Pay attention to the minimum requirements to bet, for example, the minimum and maximum amount that can be locked, the period of locking the asset, the prize or reward that can be taken, and others.
Also, make sure the device used for staking coins has internet access and can work around the clock.