Due to the global economic crisis more inexperienced investors turned to cryptocurrencies. So it is worth it to go back to basics and consider the main advantages of such a consensus type as Proof-of-Stake.
Staking no longer wonders, it has become a common tool for passive income in cryptocurrencies. Especially considering the high cost of the mining: video cards became dozens of times more expensive, natural disasters and logistics disruption during the pandemic caused the semiconductor crisis.
In fact, staking can be compared to a bank deposit: the more money you put in, the more rewards you will receive. But the returns from cryptocurrencies are much higher than from fiat. First of all, thanks to the increased risk the rate of coins is more volatile than the rate of traditional assets. However, now we see that financial-market turbulence pumps crypto, not fiat.
DeFi projects are very active in offering convenient staking solutions to newcomers. For example, Binance as the largest cryptocurrency exchange offers two options and even gives guarantees in case of market decline:
- Fixed staking. Users choose the currency, the duration of the coin freeze and the amount of funds to be frozen. Rewards are accrued daily, but interest is lost if funds are withdrawn early.
- DeFi-staking. The exchange unites funds provided by clients and acts on their behalf, so cryptocurrency holders can participate in projects with higher entry requirements. The final profits are distributed according to the size of the contributions.
In #MetaHash, the entry threshold is extremely low (detailed instructions on forging are available on Readme). In short, you can delegate with as little as 512 #MHC, forge by wallet with 100 coins. Anyone can also start a node and choose a qualifying role. You can unfreeze #MHC at any time without losing money.
Share your forging experience in the comments and make its fourth year great!
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