How to buy and stake cryptocurrency all under 1 minute
December 11, 2018
The 3 main things we tend to do with our cash are saving, spending, and donating. The same goes for cryptocurrencies. You don’t truly get paid in cryptocurrencies round the world; not yet. So, it’s not as simple to earn cryptocurrencies, unlike conventional money.
And we’re way past the time when we could just mine a few cryptocurrencies on our regular work-a-day PCs. So, we’re basically left with shopping for cryptocurrencies, typically from easy-to-use exchanges.
Just like typical currencies, you’ll place your cryptocurrencies in a very “fixed deposit” aka staking. This additionally yields totally different amounts of interest payouts based on the duration and the cryptocurrency technology.
So in this article you will learn all of the following things:
- How to get Cryptocurrencies?
- And to start, let’s initial get some cryptocurrency, shall we?
To buy cryptocurrencies, you’d visit a third-party, on-line exchange service and find a cryptocurrency that you can stake.
Here are the best cryptocurrency exchanges for trading cryptocurrency where you can buy crypto that are better than Coinbase in their own ways and where you can find a list of coins that you will be able to stake.
The main difference is that the fees on Coinbase are not that low when compared to its alternatives. But otherwise, the alternatives offer the same services and security as Coinbase.
Once you’ve purchased your cryptocurrency/ies, you’ll then got to stake it.I said that it’s like fixed deposits with banks. But staking is far better and safer as you can pull your funds if needs be.
That’s because, you choose how long your money should be on stake and the longer you keep it, the higher the rewards.
Staking is a class alternative to investing your crypto.
How to Stake Cryptocurrency
Basically, you just do the opposite of investors and go, “Let me just put my money somewhere and have interest trickle”.
Unlike the high-risk high-reward stock investments, crypto staking is a low-risk long-term investment.
You can make somewhere between 2% and 10% per annum on average. If you stake 20 BTC then you’ll have around 0.4 BTC to 2 BTC after staking it for a year.
To stake crypto here’s what you need to do:
- Find a Cryptocurrency to the stake & that can be staked
- Buy that cryptocurrency
- Stake it for any amount of time
Be careful when choosing a cryptocurrency as there are some too-good-to-be-true currencies that could scar your ROI.
Do your research. Consult a few different sources before you dive in.