Sciencelovers - Investing in crypto assets today has offered a way to passively earn crypto, no matter whether the market is currently bull...
Why is it said to be passive? That's because you don't have to do anything to earn additional crypto using the crypto assets you already own.
How to Passively Get Crypto
This passive way to earn crypto is staking, which is the activity of locking your crypto assets in the provider's wallet to validate the network.
The term staking itself refers to the consensus that initiated it, namely proof-of-stake (PoS), where instead of mining crypto using crypto-mining tools such as proof-of-work (PoW), in PoS, new crypto can be obtained through staking.
The most interesting thing is, staking is an activity that is a very minimal risk (or can even be called risk-free) because we will not lose a single crypto asset in doing so.
What to Get and Where to Do It?
In staking activity, you will get the same crypto that you lock.
For example, you want to stake ADA (crypto Cardano), then later you will also get ADA with an APY that has been determined from the beginning from the provider. Of course, each crypto asset will have a different APY.
In short, it is similar to a deposit, but with different conditions and does not incur any additional fees for doing so.
So, where can we stake?
Currently, there are several major crypto exchanges that have provided services for their users to stake with a wide selection of crypto assets.
Crypto exchanges that currently have services for staking are Kraken, Binance and Coinbase.
Apart from exchanges, there are also crypto wallet providers that allow users to stake, namely Exodus, Trust Wallet and Ledger Live.
Apart from staking, you can also earn crypto passively by placing your crypto on crypto lending platforms such as BlockFi, Celsius Network and Gemini Earn (a service on the Gemini crypto exchange).
On this lending platform, you will act like allowing other people to borrow your crypto assets for a certain period of time and you will earn interest in the return of new crypto.
However, for this type of loan, there are some risks that need to be faced, so learning more about this is highly recommended.
