The market of digital assets is developing, welcoming more and more projects and assets. Large crypto platforms allow numerous options for making a profit using cryptocurrencies. One of the easiest and most profitable ways of generating income is staking crypto. What is staking, and what coins are suitable for it? Let’s discuss it in this article.
The Essence of Staking Crypto
Staking is locking coins on a crypto platform for a certain period. It helps the platform maintain liquidity; on the other hand, a staker receives rewards in the form of additional coins accrued to his account after the locking period expires. The main thing to consider when picking an asset for staking is volatility. The more stable the asset’s rate, the better.
Here are the best cryptos for staking:
- Solana (SOL)
- Bitcoin (BTC)
- USD Coin (USDC)
- Polkadot (DOT).
Staking is available for digital assets developed based on the Proof-of-Stake consensus protocol and those based on Proof-of-Work. You just need to pick a crypto platform that enables this tool.
Where is Staking Cryptocurrency Possible?
Try using the WhiteBIT crypto exchange. It offers a convenient interface and the highest staking rates. There are several staking programs for a user to pick. Your rewards will vary depending on the asset you stake and the locking period. Of course, the longer you keep coins in staking, the more rewards you will receive. You can check staking results on the WhiteBIT website by entering the number of coins you wish to lock and the length of the staking period. Notice that it is impossible to withdraw coins from staking until the period expires; otherwise, you will not receive rewards. Read the staking plans carefully and pay attention to the dates and conditions. Many trades worldwide use WhiteBIT for generating passive income in staking. This earning option is suitable for beginner users because it does not require in-depth trading knowledge, hasty decisions, or complex trading strategies or tools. All you need to do is to register an account, deposit it with coins, lock them in staking and wait until its period expires, receiving the passive income in the result.