This time our topic will be on staking for passive income and on which platforms we can evaluate the coins we hold to get the best returns.
What is Staking?
In its simplest form, we can say that staking is a way of earning some rates of income in exchange for keeping some cryptocurrencies in some pools.
So, for example, you hold BNB in your Binance account. However, since this BNB is empty in the spot, there is no extra income for you.
In other words, BNB price changes will affect you, but when it remains stable, your money will actually lose value. In other words, if 100 dollars is still 100 dollars at the end of 1 year, do you think it has not lost its value? He has definitely lost.
But since we look at it as a coin, we should look at quantities rather than prices. So the important thing is how many BNB I have at the beginning of the year and how much it was at the end of the year. Even if the price drops, the aim is to increase the amount of coins due to our trust and investments in cryptocurrencies.
For this reason, instead of keeping many of our crypto money investments idle, we can increase their number by 10% to 20% by staking. So instead of keeping the BNBs in your Binance account, if you go and stake somewhere with a rate of 15%, you will have 115 BNB at the end of the year, not 100.
The number of coins you can expect increases as you wait. It's a great thing, and the vast majority of people in the market don't take this opportunity. While we are holding, we will win when the price increases, but if our number increases, there will be a terrible profit.
Therefore, from now on, we will evaluate each coin we hold at a good rate of stake and increase the amount of coins in our fixed basket.
