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How to Staking your cryptocurrencies
As is public knowledge, there are several ways to generate income with your cryptocurrencies. The only thing you need is to investigate and advise you very well on what are the benefits and risks that are involved in order to make your investment.
One of those ways to generate income is Staking. But what is Staking about? It is a system where cryptocurrency holders use them to add new blocks to the associated blockchain, so that they are then rewarded with additional coins.
In general, the people who do Staking are the Holders who just want to save it and are not interested in buying and selling it at all times as traders do.
How to do Staking?
Staking is a service provided by the Binance platform. Therefore, you go to the "Services" section and then enter Staking. Once inside, you will be able to see what they are selling you with the APR (Annual Equivalent Rate), which is an indicative reference of the cost or effective annual yield of a financial product regardless of its term. In other words, you would be looking at the annual percentage of what they are going to pay you for that currency.
You just have to look for the currency with which you want to Staking, and select for how long you want to Staking with it on the platform. In that time you will see how much money in interest you are going to earn monthly and annually.
Then, you click on "Staking now", you enter the amount of cryptocurrencies you want to Staking with. Now you have to select the box where you accept the conditions and click on "Confirm purchase".
“When you choose the cryptocurrency with which you will Staking on the Binance platform, you will see the rewards that you will receive for each one depending on the term that you selected yourself. The percentages can vary from 10-40%”.
Benefits you get from Staking on Binance.
The rewards that Binance gives you for staking can be calculated in several ways. It all depends on the Blockchain network itself. But there are several factors that are involved in the question:
· The first factor is inflation and its rate.
· The second is the amount in the network.
· The third is the coins with which you are Staking.
· Finally, the period of active time that will remain stored in deposit.
What cryptocurrencies can you Staking with?
Actually, it is an offer that can vary. Currently the cryptos with which you can Staking on Binance are the following: MATIC, SOL, ADA, ATOM, XTZ, 1INCH, DOT and EOS.
What is the Staking Pool?
It consists of the fusion of all the resources of different cryptocurrency owners, which increases the probabilities of validating their blocks.
Then, the rewards that are obtained are distributed proportionally to each cryptocurrency owner. For this to be possible, a small minimum amount is required and there is also no residence time.