Staking, is a passive income method in the cryptocurrency industry. It is basically holding on to your crypto instead of trading it for a profit, like interest with a savings account. Proof-of-stake consensus is used in some blockchain networks. That is, rather than mining through proof-of-work, blocks are validated by committed network users. Staking is one of the hottest trends in the cryptocurrency industry today. It is a simple yet powerful concept that leverages the benefits of decentralized finance. Moreover, staking is still considered one of the best ways to generate passive income from one’s existing crypto holdings.
IS IT WORTH IT?
Staking is nearly as profitable as the mining or trading of cryptocurrencies, and without risk. All you have to do is stake some coins in order to get added to the mining pool. As for profits, the actual profits you can make from staking will depend on how much you invest and for how long. Many of the crypto you can stake gives you some staking options from 24 hrs, monthly, yearly.
Now some crypto like MODIC, gives you a staking reward within minutes.
HOW IS IT PAID?
Staking rewards are paid out to users in the supported cryptoasset, with no action at all required on the user’s part.
Send your chosen crypto to a staking wallet or crypto fund, do nothing else, and watch your balance grow.
To show that simplylearncrypto.com is only here to help others, the MODIC.FUND EXPERIMENT was started with the first deposit in March 2021, using ONLY Cointiply rewards withdrawn as BTC from doing the daily rewards, downloading iPhone Apps, games, and completing some surveys during the tail end of the COVID-19 lockdown.
(Cointiply uses its own internal site coin which reflects USD, and withdrawal choices of , BTC, DOGE, or ETH . And it has a lot more apps to offer if using an Android Phone or tablet. Simply meaning using an Android offers more money made faster)
JUST BY JUST SPENDING A LITTLE TIME HAVING FUN WITH APPS, GAMES, AND SURVEYS
A PASSIVE INCOME IS NOW IN EFFECT AND WILL CONTINUE TO GROW.
PERSONAL OPINION…. WELL WORTH THE TIME.
UPDATED TO SHOW ONE WEEK OF GAINS FROM MODIC.FUND.EXPERIMENT