Crypto trading is generally regarded as the “way” to earn from crypto. However, there are several other ways to make money with crypto, whether tokens, stable coins or the popular BTC. One of the most often overlooked means to earn crypto without trading is through staking. Crypto staking involves locking down a specific amount of cryptocurrency for a specified period and earning a profit plus your investment at the end.
Crypto staking is less volatile than crypto trading which largely depends on arbitrage, HODL or other strategies for traders to earn. The specific reward at the end of the staking period is defined and could be in form of tokens, coins, or interest on coins staked among others.
Understanding Crypto Staking
Crypto staking involves traders locking up their crypto for a period of time. Basically, this aids the operation of the blockchain and in return, traders earn more cryptocurrency or any other prespecified reward.
Several blockchains today make use of a proof-of-stake consensus arrangement. This system mandates all network participants to stake a specific sum of cryptocurrency as insurance before they are allowed to validate new transactions and add new blocks. With so much of their personal crypto at stake, participants will ensure that they only add legitimate transactions to a blockchain. Validating fraudulent data may result in them losing some or all of their stake as a penalty.
What are the benefits of Crypto staking?
The two major benefits of staking crypto are:
1. Passive income opportunity
Leaving your crypto to lie fallow in your wallet is simply not the best option if you do not plan on selling them soon. Crypto staking allows you to earn passive income without the hassle of trading.
2. Easy to get started
Basically, staking crypto is very easy to start as all you need is an exchange or crypto wallet and a platform to stake on. Bitmama is easily the best platform that offers you both of these options to make money with crypto.
Crypto staking on Bitmama (Bitmama Earn) is one of the features that allow users to easily earn interest on their staked crypto asset over time. In simple terms, you lock your coins for a period and receive your stake with returns after the time elapses.
Basically, Bitmama Earn allows you to enjoy the benefits of staking without having to complete any task. You no longer have to worry about losing your assets or your assets losing value.
How to make money on Bitmama Earn
Follow the steps below to start making money on Bitmama Earn:
Step 1: Download and register on the Bitmama app, completing your verification up till level 3.
Step 2: From your app dashboard, select staking.
Step 3: Select staking once again and click on “earn now”.
Step 4: Enter the payment wallet, amount you wish to stake, subscription type, duration and other necessary details.
Step 5: Lastly, click “Submit”.
Congrats, you just completed your crypto staking process!
Basically, the crypto staking process on Bitmama earn is pretty straightforward. Follow the steps above, sit back and relax and let your money work for you.
Start making money on your crypto without trading today. Download the Bitmama app on Android or iOS.