Staking: When your Money… Makes Big Money
The text below is an advertorial article that was not written by Cryptonews.com journalists.
Feel Mining’s staking offer has just come out and it’s worth a look.
Five projects have been selected for Feel Mining users, namely Algorand, Cosmos, Wanchain, Loom and of course Tezos. As many opportunities to diversify one’ s investments. But before going further on these offers, here is a little reminder of what staking is.
What is staking?
The staking process is very simple: you lock your crypto in a special third-party wallet that pays you back with the same crypto in return. This is similar to the principle of bank savings books, except that, in this case, no bank will get value for your money. This type of operation is only possible on blockchains which are based on a proof-of-stake algorithm.
What is proof-of-stake ?
Proof-of-stake algorithms require users to prove their possession of a certain amount of cryptography (also called “stake”) in order for them to claim additional blocks and pocket the reward. If we were to make a comparison, you get the reward when you have a high computing power in proof-of-work, or a high stake in proof-of-stake.
Now let’s take a look at the most famous crypto you’ll be able to stake: Tezos.
What is Tezos?
Tezos is a blockchain that wants to address several fundamental issues that blockchains face: scalability, reliability of smart contracts, and governance. Today, Tezos (TXZ) is a cryptocurrency widely recognized around the world thanks to the qualities of its blockchain and the dynamism of its community. Its delegated proof-of-stake algorithm allows you to delegate your TXZ savings to a node that has exceeded the required participation threshold (the node is called a “baker” and the threshold inis called a “roll”). Currently, the rolls are set at 10,000 TXZ. Therefore, staking with Tezos means bringing its TXZ to a baker. The baker will see his likelihood of reward increased thanks to your participation, and will reward you accordingly by sharing a portion of his winnings with you.
Unlike the BTC, there is no maximum TXZ supply, what makes this king of operation possible over time.
To sum it up, staking is a bit like getting getting in an extremely easy way, a highly profitable saving account, with interest rates ranging from 5% to 12%.
Feel Mining, where staking is within everyone’s reach.
And now how do we stake? Easy as pie. Just go to platforms like Feel Mining that provide an intuitive and easy interface for staking on Tezos or other projects.
If you have your own cryptocurrencies, you can use them. If you don’t, you can buy them directly on the website. Unlike a wallet, Feel Mining allows you to acquire cryptos and convert them directly into another crypto to diversify your investments towards other cryptocurrencies or even other products (masternode, cloud mining, etc.) all from a single place.
In addition, Feel Mining plans to launch new projects in September to complete its staking range. And if you have any ideas for Feel Mining projects, a suggestion box is at our disposal. Let’s stay connected because it’s only the beginning.
The code “CRYPTONEWS” will allow you to get a discount on some offers of the platform, including Masternode and Cloud Mining.
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