How to earn money from cryptocurrency securely through staking

CWI
4 Aug, 2022

How to earn money from cryptocurrency securely through staking


How to earn money from cryptocurrency securely through staking


Since cryptocurrencies came into existence, many have thought that the best way to profit from them is to trade and invest. And they're right, it's profitable if you look at things from the investment side. However, things must also be seen from the point of view of the risks that you will be exposed to, the potential losses, and the experience required to make a successful trade.

What these people don't know, is that it is possible to make profit from cryptocurrencies in a guaranteed way, while eliminating the risk of losing your money through various methods. Among them and the most famous among them are stacking / freezing or, in general, staking. The technique of staking in cryptocurrencies is a technology that offers you the opportunity to profit from cryptocurrencies without the need to invest them, and be exposed to the risk of losing your money. This article will tell you all about staking.

General explanation: What is staking?

Staking (although the term translates conventionally to cooking, but its more correct translation of the concept is stacking or freezing depending on the situation). The concept of staking refers to the selection of a cryptocurrency project that needs specific funding to accomplish a desired task. It asks users to inject some money into good investment opportunities, with a steady return after a specific deadline.

Didn't you get it right? do not worry. The idea behind staking is that a cryptocurrency project issues its own offer, telling you that it needs money to develop a project, and will get it back to you within 14 days, with a profit return of 30%. That is, if you invest $100 in them, you can earn in 14 days $130 net profit, with an estimated risk of 0%.

It is not necessary to ask for money to develop the project, some cryptocurrencies are active in this field and always allow staking operations, such as Celsius and AAVE. Also, the percentage and the period are not fixed, it can be days, months, years and others. Take the example of Ethereum 2.0, which takes about two years to staking.

The pros and cons of staking

Staking is the technique by which you can make money from cryptocurrency without risking your money. Also, you don't need to have a lot of experience in the markets and an understanding of market indicators to use them. But of course it has its own pros and cons:

Pros of staking

  1. Does not require the slightest experience: You do not need to know the market, to know the cryptocurrency, its basis, its purpose, and the blockchain that you are active on (it will be a good addition, but not a necessity). You do not need any kind of experience in the field of trading or investing.
  2. At 0% risk: There is no risk during the staking process, what you are promised you will get. The only risk is that the platform you are using is not reliable, and because we are going to use ByBit it is completely reliable.

Cons of staking

  1. Not very profitable compared to trading and investing: Trading and investing is very profitable compared to staking. If you have the necessary experience, you can make up to $500 out of $100 in one day. Staking has a slow winning pace. At its highest level, you can achieve a 120% profit rate in about a month. Which means from $100 you can eventually make $220 in a month.
  2. You need to invest more to get more profit: You can start staking at $1, no problem. But the real profit starts when you inject a rather large budget, at least $500. There are investment opportunities in staking starting from $50,000 sometimes!

How to start staking with ByBit?

Why ByBit?

ByBit offers you great investment opportunities in staking. Staking is based on finding the best profitable offers in the market for the user, with a high profit rate in a short period of time. ByBit has good offers in this regard, which is why we are targeting it today in this tutorial.

Take the example of the exclusive offers offered by the platform, where you can get a profit return of 666% Flex (i.e. withdrawable at any time) in different currencies. Meaning, listing only $100 may add to your balance over $700 while taking advantage of these exclusive offers. Of course, not always, but only customized offers offered by the platform.

How to start staking on Bybit

First the cryptocurrency you will deal with: In the above example is Bitcoin, there are cryptocurrencies always available for staking such as Ethereum and Bitcoin. But its offers are weak, while there are other intraday currencies, but their offers are good.

APY is an acronym for Annual Percentage Yield, and may sometimes be matched by the name APR, which means Annual Percentage Rate. It is the annual return during the Stake in the cryptocurrency.

Period: It is the period of time during which you will be staking. It is divided into two types: Flex, which means you can withdraw at any time, and Fixed, which is the agreed upon period. There is no problem with the Fixed, it is clear (30 days with an APY of 0.95% on any amount you place). But the Flexible is calculated monthly, not daily (ie 0.47% over the 30 days in the example above, not every day). The difference is that you can withdraw your money every time better investment opportunities appear.

Minumum Ammount: There is another option (not shown in the picture), which is the minimum value that you have to buy, for example in the Bitcoin option, the minimum value is 0.01 Bitcoin. There are other cryptocurrencies for which there is no minimum value in the mining process.

So you now know about the most important characteristics that you need to get started in the staking process... so how do we get started?

Browse all the available staking offers, choose the best one in terms of profitability, and also the cheapest one if you are on a tight budget. Click on the Stake Now option and enter your balance into the transaction (either with USDT or by first buying the coin and then staking). The process will start immediately.

You can always and continuously monitor the staking status via the same staking offer link that we will leave to you at the end of this article.


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