Crypto

What Is Crypto Staking: Rewards, Benefits, Risks?

Crypto staking can be complex. But we’ve simplified it in this blog that will tell you all about crypto staking and how it works.
April 18, 2024
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Gone are the days when crypto was just about buying and selling. Investors can now earn passive income and rewards with relatively simple methods like crypto staking. 

In fact, data suggests that crypto staking rewards can be lucrative (~11% on average) based on an analysis of 260+ staked assets (as per a Coindesk article). 

Let’s explore what it means to stake crypto and how it works.

What Is The Meaning Of Crypto Staking?

Staking is a method in which you put your cryptocurrencies on the line (at stake) by locking them away for the long term. In return, the platform will help you earn staking rewards which are returns on a deposit.

But you’re not the only one who is benefitting from staking crypto, the platform is too. The platform’s blockchain will put the staked crypto to work to validate transactions, retain integrity, and maintain security. 

Staking is becoming popular because it is viewed as a win-win for everyone involved. Instead of lying dormant in your wallet, the cryptocurrencies are put to use to ensure that:

  • You earn profits in the form of more crypto
  • Staking rewards are generally lucrative (~11% on average)
  • Blockchain transactions become efficient
  • The security of the blockchain is solidified
  • The community works towards common goals 

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