Crypto How to earn by staking cryptocurrencies

Mika

VIP Contributor
In a layman’s term, staking cryptocurrency means, depositing your cryptocurrency in an account on an exchange platform to earn fixed rewards for a fixed tenure. Staking cryptocurrency is just like depositing money in a fixed deposit account for a fixed term to earn higher interest rates. Just like with your fixed deposit bank account where you cannot use your funds until the fixed deposit term ends, you cannot also use your staked cryptocurrency. However, some platform allows you to use your staked cryptocurrency.

There are a lot of platforms that you can use to earn from my cryptocurrencies by staking. Binance is one such platform that you can use for staking. Another platform that I can suggest is Exodus. You can stake your cryptocurrency on Binance and Exodus and make extra money from your cryptocurrencies.
 

Phabbyfundz

Active member
Yes, I think this is also a really good way to earn from your investment in cryptocurrency, but as with every other venture it has its own advantage and disadvantages. But if you would want to stake your crypto currencies and earn reward you would have to make proper investigation on the platform or site you want put your cryptocurrencies in because of the high rate of cyber crimes they are a lot of fake profiles , sites and platform available now.
 

Putta Vince

Active member
There are many platforms like Binance , Celsius where you can invest the cryptocurrency which you like to stake and choose the duration for staking. The staking rewards are high for certain cryptocurrencies like USDT, it also varies with different platforms. Staking tron in trust wallet is safe and decent rewarding as well.
 

btaliat

VIP Contributor
I don't know how to do this on binance. I wish someone can tell me more on how to do it with binance. And what happens if the price of the staked coins reduces. Will it affect my own interest too or the interest on the staked coins is always fixed.?
 

Alexandoy

VIP Contributor
I have been reading some posts of members in another forum that staking crypto coin will be earning you a passive income. However, when your money is earning interest as a fixed deposit there is the risk that the firm is not legit and it may close any time. I would prefer to deposit my money in the bank even if the rate of interest is lower. At least it is safe.
 

Jasmine

VIP Contributor
I am not into staking crypto currencies. Well, I am learning how you can stake coins, which coins are available for staking in which platforms, and things like that. I have some ADA and ADA is available for staking on Exodus. I use Exodus desktop and smartphone wallets, and I might stake ADA
 
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