Do you want to make money or make more money with your crypto assets? One of the most simple yet innovative ways to do this is by crypto staking.
Crypto staking involves “locking up” a portion of your cryptocurrency for a period of time as a way of contributing to a blockchain network. In exchange, stakers can earn rewards, typically in the form of additional coins or tokens. Crypto staking is similar to depositing money in a bank, in that an investor locks up their assets, and in exchange, earns rewards, or “interest.”
How do I begin staking my crypto
We have exciting news for you! Bitmama just activated crypto staking on its platform. This feature is also known as Bitmama Earn.
Introducing Bitmama Earn
With this new feature, your assets won’t sit idle in your Bitmama wallet, it will be working (and making money) for you instead. A ha! Just like that.
With Bitmama Earn, you can easily stake your crypto assets and earn interest over time. In simple terms, you lock your coins for a period, and then when it is time you collect your crypto back with extra! See our article on 5 reasons you should own a crypto debit card and how to buy bitcoin in Ghana.
Contrary to bearish beliefs, you can make long-term life plans with crypto. Where previously you stood the risk of losing your money, Bitmama has now simplified the process of crypto staking for you. You no longer have to worry about losing your assets or your assets losing value. The simple way to do this is by staking your coins using Bitmama. You can read about how to trade on Bitmama P2P exchange
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.
Interesting Read – How to pay for wholesale orders on AliExpress using Bitmama Card
Here’s how to earn money from Bitmama Earn
Follow these simple steps to begin earning:
- On your Bitmama App, click on Account (bottom right button)
- Select Bitmama Earn, then Staking
- Click on Earn Now & choose coin type (BTC, ETH, USDT)
- Select subscription model (Fixed or Flexible)
- Enter amount to stake & the duration (7 to 365 days)
- Indicate if your stake should roll over (Yes or No)
- Click “Subscribe” and then, congrats, you just completed your staking process!
Here’s a video showing how staking works on the Bitmama app
That’s really it. No magic, no long talks. Now work for your money, and also let your money work for you, all with Bitmama Earn.
Start your crypto staking journey today, future you would be glad you did. You can also start making payments with stablecoins using crypto card
Start planning your tomorrow today by staking your coins on Bitmama Earn. Don’t sleep on this, earn money on your crypto now! Download the app on Android and iOS. Read our article on easy ways make money with cryptocurrency
