Price volatility is often used to gain extra profit in investing crypto assets because it can predict investment opportunities or risks. But believe it or not, you can profit not only from volatility, but also from staking crypto.
Definition of Staking Crypto
Staking crypto refers to locking up a portion of crypto coins in the digital wallet for a period of time to generate passive income. Staking is typically done in Proof of Stake (PoS) method. This method allows investors to mine crypto coins based on the total amount of coins owned. The more coins you lock up, the higher the offers.
By staking crypto, investors can have diversified income in the form of digital assets for it bears interests or rewards on the locked coins . The staking rewards vary based on the protocols, however, some use a block-by-block method.
Basically, here are a number of factors to consider when calculating crypto staking rewards:
- Inflation rate;
- The number of coins locked;
- The time period the investor has locked the coins; and
- The total amount of coins stored on the network.
How Staking Crypto Works
Staking involves validators who lock up their coins. Validator is someone who performs the staking. This validator is randomly selected by the protocol to propose a block at certain intervals. Validator who locks more crypto coins will have more chances to be selected as the next block validator.
In such a case, this method does not require the block proposed to rely on mining hardware, but it is based on the number of coins locked. In the event that validators fail to protect the network, they are at risk of losing the locked coins even if they have learned about crypto trading methods and strategies.
Staking Crypto on Nanovest
If you are interested in staking to gain profit from investing crypto assets, be sure to invest on a trusted platform. You can use Nanobyte feature from Nanovest. Nanobyte (NBT) is crypto asset that offers hybrid tokens by combining Centralized Finance and Decentralized Finance.
Nanobyte aims to bridge crypto assets to the traditional or conventional financial services products. Whereas crypto wallet is used to access products such as insurance, e-money, credit card, and others. Nanobyte is supported by Sinar Mas Group, built on BSC (Binance Smart Chain) network, and it uses the BEP-20 standard with a maximum total supply of 10 billion tokens in circulation.
You can buy the NBT token using Nanovest application that you can download on PlayStore and AppStore. With only Rp 10.000, you can get +/- 2.000 NBT. Moreover, by staking Rp. 25.000, you will earn 5,4794 in 180 days.
Come on, stake your crypto on Nanovest!