Apart from crypto trading, staking is another important way that investors can use to generate additional income in cryptocurrency. Staking has been around for a long while and both experienced and new investors use it to attract huge profits. Instead of investors trading their assets in a time of uncertainty, they can secure a low-risk strategy through staking. By staking, investors get to earn increased revenue while not exposing themselves to market fluctuations. This is especially helpful when the market is down and investors lock up their funds which they use to fund the crypto platforms and then earn passive income in return.
In layman’s terms, crypto staking is a way of escaping market volatility, particularly during the downtrend. Crypto staking could perhaps give more in profit than actual trading. Some platforms offer between 5-30% rewards while some give as much as 50%. Staking is like putting money in a high-yield savings, you don’t run at a loss. At the same time, if there is a loss, you may not earn a profit, but you will still get back your assets. Not only is staking beneficial to investors, but it is also beneficial to the staking platforms. By staking your assets, you contribute to the smooth running of the network and maintaining the security of the blockchain. Here, we list the 3 staking coins that offer rewards in the long term.
Top 3 Staking Coins That Are Good for Investing in 2024
PancakeSwap (CAKE)
With PancakeSwap, investors can stake their assets to earn higher rewards. PancakeSwap offers a high staking reward compared to most centralized exchanges. To practice staking on PancakeSwap, investors can transfer some CAKE from PancakeSwap to other decentralized wallets such as Metamask, and then connect their wallet to the PancakeSwap DEX.
Thereafter, they can go to the pool and stake their assets. Depending on how long they want to stake their assets, investors can earn as much as 22% annual percentage yield (APY). Investors have the option of taking their rewards after staking or reinvesting the proceeds on the platform.
What Makes PancakeSwap Staking Unique
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Less time to complete the staking
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Users can calculate how much they will earn in each staking pool, allowing them to have beforehand information on the staking rewards
Pullix (PLX)
If you are interested in high-yield staking, Pullix is a perfect platform to earn huge rewards while not trading your assets. Pullix is one of the new DeFi projects that is developing a hybrid trading platform that allows users to earn through staking. The platform offers high staking incentives for those who prefer to stake their tokens. Stakers of the Pullix tokens earn a 50% reward distribution.
Pullix uses this high staking reward to encourage long-term holding and enhance active participation on the platform. With a fixed monthly profit of up to 18% APR, Puliix offers one of the best staking reward systems among DeFi protocols.
What makes Pullix staking unique
- Pullix staking rewards is one of the most profitable in the market
Ethereum (ETH)
Ethereum is the most popular DeFi blockchain and one of the top DeFi projects. The platform offers staking rewards for investors who may desire not to trade their investments and instead opt for staking. Not only that, Ethereum staking is used to secure the blockchain and the amount of ETH staked determines the reward that can be acquired. However, investors may be disappointed that Ethereum offers one of the lowest staking rewards.
By holding the token for a complete year, investors are reimbursed with a stake reward of 2.8%. This may not be the best move for investors looking for higher staking rewards. However, when compared to the risk inherent in actual Ethereum trading, one may still opt for the staking alternative as a low-risk strategy.
What makes Ethereum Staking Unique
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