Earn Passive Income by Staking Cryptocurrency with Proof of Stake (PoS) – Learn about the new method developed by coin developers to encourage users to hold their coins in wallets and earn a predictable passive income, with potential annual percentage yields of up to 35%.
There are two methods for earning cryptocurrencies, one of which is Proof of Work – such as the Bitcoin and Litecoin algorithm (mining), and there is another method called Proof of Stake – where more and more coins are advancing towards staking, since it is a greener and cheaper method and is profitable for everyone.
How much can you earn from Staking in Cryptocurrency?
First and foremost, it is important to clarify that there are two types of Staking. There is Staking on coins whose code allows for Proof of Stake, such as ADA, DOT, EOS, ATOM, ALGO, TRX, XEM, XTZ, DASH, and dozens of other coins. This type of Staking is completely risk-free, and you will receive your coins at a fixed percentage over a certain period of time, much like interest in a bank (only much higher in the crypto world).
There is also Staking Defi, which is entirely speculative and carries risks on coins whose work method is not Proof of Stake. Of course, the risk is not particularly high, especially on trading platforms like Binance, but we will not discuss them in this post because they carry risk.
It is important to note that in this context, we will be discussing staking, which is embedded in the currency code and provides a passive income at a fixed percentage. Please be aware that the currencies you “hold” and earn from will be locked (without the ability to send or sell) but this function can be canceled at any given time. However, once you “release” the staking, you will no longer earn the passive income.
In the following example, you can see an existing staking on the Tron currency in the Binance trading platform: Staking usually has three options: locking the coins for 30 days, 60 days, or 90 days. The longer you lock them, the higher the annual interest rate you will receive. In the image below, you can see that if you lock Tron for 90 days (with a minimum of 1000 TRX), you will receive a 20.58% annual percentage yield!
To start earning through Proof of Stake staking on Binance, there are a few steps you need to take:
The first step is to register for the Binance trading platform. By using our referral link, you can receive a 10% discount on trading fees (if you already have an account, you can open an additional account to receive the benefit). To register for the Binance trading platform with a 10% discount, click here.
Afterward, you will need to fill in personal details such as email and password for your new user account.
After registration, you will need to purchase tokens in order to hold them in your wallet (you can also make the purchase using a credit card). If you already have existing tokens, you will only need to deposit them into the wallets available on the platform.
Click on “Earn” and then “Binance Earn”.
Scroll down until you see the following screen (it is crucial not to get confused and select the safe staking option).
You will be able to see:
Fixed Saving – you can receive passive income on your stable coins (coins equal to $1) up to 7% annually.
Staking – holding coins with Proof of Stake technology.
Activities – holding coins with risk (not recommended).
Click on Staking and then View More.
On the screen in front of you, you will see all the coins that you can lock for 30, 60, or 90 days and earn completely passive income with the details of the annual interest!
Good luck everyone! If you haven’t registered for Binance yet, you’re welcome to do so through our registration link and receive a 10% discount on trading fees.
To register for the Binance trading platform with a 10% discount, click here.
Are you interested in trading Bitcoin, Ethereum, Ripple, and hundreds of other cryptocurrencies? Join the world’s largest and safest trading platform today, Binance, and start learning about the world of crypto.
Register through our link to Binance and receive a 10% discount on fees – Click Here
Register through our link to Bybit and receive high registration bonuses – Click Here
For information on the safest cold wallets for storing cryptocurrencies – click here