Mika
VIP Contributor
If you have a portfolio of crypto assets that have a Proof of Stake consensus mechanism, you can use your cryptos to make passive income through staking. There are a lot of platforms that offer staking.
Staking means you freeze your crypto assets for a certain time and earn rewards from your assets. However, on some platforms, you don’t even have to freeze your assets. When you stake, your principal amount remains the same. Therefore, the risk is zero (provided you are using a legit platform)
How much profit you can make through crypto staking depends on what crypto assets you are using and how long you are staking your assets. For example, on Binance, if you stake ADA for 120 days you can earn 13.7 percent annual interest. If you stake for 90 days, your annualized return is 11.29 percent. If you are staking AXS on Binance, you can earn a 96.6 percent annual interest rate for staking for 90 days.
Staking means you freeze your crypto assets for a certain time and earn rewards from your assets. However, on some platforms, you don’t even have to freeze your assets. When you stake, your principal amount remains the same. Therefore, the risk is zero (provided you are using a legit platform)
How much profit you can make through crypto staking depends on what crypto assets you are using and how long you are staking your assets. For example, on Binance, if you stake ADA for 120 days you can earn 13.7 percent annual interest. If you stake for 90 days, your annualized return is 11.29 percent. If you are staking AXS on Binance, you can earn a 96.6 percent annual interest rate for staking for 90 days.