Everyone loves free crypto, but when acquiring it, you must practise caution and conduct detailed research before exploring the free crypto sector. Here, we have compiled a comprehensive list of legitimate ways to earn free crypto. 

## Nine ways to earn free crypto 

### 1.    Airdrops 

Airdrops are a convenient method of obtaining free crypto coins, similar to a giveaway. New crypto projects utilise it to generate interest and promote the adoption of a new [cryptocurrency](/news/article/crypto-investing-for-beginners-uk) token before its official launch. Participants who express interest in the process receive free cryptocurrency as a reward. 

In the past, crypto projects like Uniswap and Ethereum Naming Service (ENS) have utilised airdrops to reward early users and involve them in future governance decisions of the protocol. 

### 2.    Play-to-earn games 

[Play-to-earn gaming](/news/article/free-play-to-earn-games) has emerged as a prominent sector within the crypto industry, experiencing substantial growth. Various games are available, with new ones continuously being developed. These include action-packed fighting, shooting, racing games, immersive RPGs, and captivating card-trading games. 

These games allow players to earn rewards within their respective ecosystems by completing various tasks, missions, and objectives. 

Moreover, many of these games have created expansive Metaverse worlds that enable players to construct and monetise virtual plots of land. Within these Metaverses, players can engage in activities such as resource mining, selling buildings, or even selling tickets to real crypto-based events. 

### 3.    Crypto staking 

[Crypto staking](/news/article/kda-staking-earning-kadena-rewards) involves holding or storing a cryptocurrency for an extended period to earn interest. This process is commonly carried out within a staking pool using the proof of stake consensus mechanism. By [staking](/news/article/what-is-staking-crypto) cryptocurrency, users can earn a consistent percentage of returns, particularly if they hold it for a considerable duration. 

There are two primary methods for participating in staking. The first approach involves directly depositing funds into the blockchain while eliminating the need for a third-party intermediary. However, the rewards obtained through this method tend to be relatively lower. 

Alternatively, a more favourable option is to utilise a staking service provided by a regulated broker. This choice offers greater benefits and security for staking cryptocurrency. 

### 4.    Crypto bounty 

Bug bounties are commonly utilised by cryptocurrency initiatives and exchanges to encourage software developers and security researchers to identify vulnerabilities within their programs. These bounties often come in the form of cryptocurrency rewards, the value of which varies based on the severity of the identified issue. The reward can range anywhere from a few hundred to tens of thousands of dollars. 

### 5.    Reddit 

Commenting on Reddit can be a smart move to earn free cryptocurrency. Users can acquire cryptocurrency by actively participating in discussions with fellow community members on the platform. 

Certain subreddits, such as r/CryptoCurrency, offer the opportunity to earn cryptocurrency rewards for users who receive upvotes on their posts and comments. 

### 6.    Yield farming 

[Yield farming](/news/article/yield-farming-crypto) involves stacking multiple decentralised finance (DeFi) protocols to maximise the obtained rewards. While some investors employ their distinct strategies, some opt for yield farming protocols to handle the laborious tasks on their behalf. Users can effortlessly earn free cryptocurrency by depositing their assets into a specific DeFi protocol. 

### 7.    Brave browser 

Consider switching from current browsers, such as Chrome, Firefox, Safari, or even Internet Explorer, to the Brave browser. 

Brave offers a browsing experience prioritising security and privacy, sparing users from constant ad bombardment. It is among the most popular browsers for crypto investors and has 50 million active users. 

Unlike mainstream browsers that collect user data for targeted advertising, Brave has introduced the innovative Brave Reward program. Users can earn free cryptocurrency in the form of BAT (Basic Attention Tokens), receiving 70% of the ad revenue by viewing ads. 

### 8.    Promotion and Welcome Bonuses on crypto exchanges 

Some cryptocurrency platforms and exchanges offer a sign-up or welcome bonus, rewarding individuals who register on their sites and fulfil the required verification procedures. 

However, it's important to note that some exchanges don't give immediate sign-up bonuses after creating an account. For example, Coinbase requires users to purchase crypto to claim the bonus. 

Additionally, exchanges run referral programs that let users earn free crypto by referring people to their platform. 

For example, with the Trezor referral program, users can earn up to 12%-15% in commission for each referral. Coinbase offers 50% of the referees' trading fees for the first three months after they create a Coinbase account. 

##   9.    Faucets 

Faucets are platforms that allow individuals to acquire small amounts of cryptocurrency by engaging in simple tasks such as viewing advertisements, completing a survey, playing mobile games, or solving captchas. 

These platforms serve as a convenient starting point for individuals who wish to earn crypto coins without requiring investments or specialised skills. Some notable examples of cryptocurrency faucets include [FreeBitcoin](https://freebitco.in/signup/?op=s), [Moon Bitcoin](https://www.moonbitcoin.cloud/), and [Satoshi Quiz](https://www.satoshiquiz.com/). 

Pile of cryptocurrencies including bitcoin, ethereum , ripple and more on a table

Nine ways to earn free crypto 

While it's not entirely watertight, [staking crypto](/news/article/what-is-staking-crypto) can be a great way to use idle cryptocurrencies and a good source of passive income. That's because there are cryptocurrencies that offer high-interest rates for staking. If you're new to the cryptocurrency world and want to understand how crypto staking works, our Fantom crypto staking guide explains everything you need to know. 

## What is Fantom crypto (FTM)? 

According to its website, Fantom is “a high-performance, scalable, and secure smart-contract platform” encompassing unique components. Built on the Fantom Opera Blockchain, the open-source Directed Acrylic Graph (DAG) network is compatible with the EVM (Ethereum Virtual Machine). It can run smart contracts besides creating new contracts that interact with Ethereum-based contracts.  

The Fantom utility token (FTM) is used for executing financial transactions, rewarding validators, paying network fees, and securing governance and is available in leading cryptocurrency exchanges. FTM transactions are authenticated by a leaderless Proof of Stake system dubbed Lachesis that utilizes a custom asynchronous byzantine fault-tolerant consensus mechanism (ABFT). Using ABFT for validation facilitates faster and more affordable transactions compared to those using Proof of Stake (PoS) or Proof of Work (PoW) mechanisms. It finalizes transactions in a matter of seconds.  

## How does Fantom (FTM) work? 

While some cryptocurrencies exist predominantly as investments, utility tokens for digital economies, or a replacement for fiat currencies, Fantom crypto (FTM) deviates slightly and sees itself as a decentralized app. Fantom focuses on DApps – the combination of tools and technologies supporting the collection of smart contracts into apps. The platform is designed to run smart contracts cheaply and affordably so DApps can reach their full potential.   

The Fantom blockchain's high speed can be attributed to DAG, where a network's transaction history is displayed as a "Hashgraph," just like the technology that powers Hedera Hashgraph. 

Additionally, the platform uses Lachesis, a leaderless consensus mechanism that can run without a hitch, even if a third of transaction data is falsified. As a result, the platform can validate transactions independently without necessarily working through a queue of transactions, often in less than two seconds. 

[Fantom](/news/article/fantom-gbp) is compatible with the EVM (Ethereum virtual machine), which makes it possible to anchor decentralized applications built on Ethereum to Fantom without much ado. As a result, FTM is available as a BEP-20 token and an ERC-20 token and therefore conforms to Binance Smart Chain (BSC) and Ethereum token standards. 

## Fantom crypto DeFi 


The Fantom development team has displayed its proof of flexibility by creating a token that features Decentralized Finance (DeFi) capabilities. The platform’s Opera Mainnet supports EVM-compatible smart contracts, allowing users to execute smart contracts on the network and making DeFi ideal on Fantom. The dashboard features an all-in-one DeFi suite for all users. Since it’s EVM compatible, users can mint, trade, lend and borrow cryptocurrencies directly from their digital wallets. Moreover, these functionalities are available almost instantly and at near-zero fees, meaning the DeFi function is open to all and sundry.    

When it comes to DeFi applications, Fantom crypto currently supports the following: 

Liquid staking: All FTM delegations are liquid within the platform’s ecosystem, meaning you can utilize your staked FTM tokens as collateral for DeFi applications. 

fMint: Users can mind numerous synthetic digital assets, including cryptocurrencies, commodities, and fiat currencies, on Fantom.  

fLend: You can borrow and lend cryptocurrencies to trade and earn passive income while holding your FTM tokens. 

fTrade: The Trade Fantom feature allows users to trade Fantom-based cryptos through their wallets, making it a fully decentralized and non-custodial Automated Market Maker (AMM) exchange.  

As a matter of fact, users can use Fantom crypto (FTM) tokens as collateral to mint fUSD, which they can use to trade and swap fiat currencies and synthetic tokens, which is made possible via the platform’s progressive web app Fantom fWallet that facilitates storing, sending, receiving and staking FTM tokens. 

## What is Fantom staking? 

Fantom staking is a process that enables users to participate in securing the Fantom ecosystem by delegating their idle FTM tokens to validators or running validator nodes. 

Previously, FTM stakers had to lock their tokens for long or short periods to earn rewards. However, investors voted to introduce a new flexible staking model that guarantees maximum profitability. Stakers can now decide whether or not to lock their tokens, and the returns depend on the maximum lock-up period they choose. 

Fantom uses Lachesis, an improved PoS consensus mechanism specifically adapted to the network and designed to facilitate high-speed transactions. That's all made possible because the Lachesis protocol is designed to validate transactions independently without consensus from the rest of the blockchain. 

This differs slightly from the traditional PoS mechanism, where validators determine the validity of transactions within the network. Since the Fantom Opera system is leaderless, stakers can still delegate their Fantom crypto tokens to trusted ones, but validators do not determine the validity of blocks.  

## How to stake Fantom (FTM) 

Staking Fantom is an affordable, low-barrier investment open to anyone with as little as 1FTM token. Moreover, specialized equipment or expertise is only required if you intend to run a validator node. 

Validators staking FTM can earn staking rewards plus a 14% fee from delegators' rewards. The only catch is the requirement to have at least 500,000 FTM tokens before you can run a validator node. This is designed to prevent [Sybil attacks](https://hacken.io/insights/sybil-attacks/#:~:text=A%20Sybil%20Attack%20is%20a%20form%20of%20online%20security%20violation,a%20blockchain%20for%20malicious%20reasons.) on the platform’s consensus mechanism.   

The Fantom crypto architecture is out-and-out on the platform's Opera Core layer that retains consensus across the nodes running on the Lachesis protocol. All transactions made on the network by independent nodes are processed and saved on each node. 

The DAG mechanism confirms and validates transactions and allows nodes to independently and asynchronously process transactions. 

Here is the step-by-step guide on staking Fantom (FTM): 

### Step#1: Visit the Fantom Staking Page.  

Go to https://fantom.foundation/ftm-staking/ and click on "Stake your FTM". You only need at least 1 FTM token in your digital wallet. 

### Step#2. Connect, Create, or Restore Your Wallet. 

Once you click "Stake your FTM", you'll be provided three options: connect your wallet, create a wallet, and restore your wallet. The "Connect Wallet" option lets you connect your regular wallet, allowing you to open or connect a wallet from your PC or mobile device. 

If you don't already have a wallet, click "Create Wallet" to create one and enter a password. After that, you'll be given your mnemonic phrase and private key. Once you enter the phrase correctly, you'll have access to your newly created wallet. 

The third option, “Restore Wallet,” requires entering your private key or mnemonic phrase, uploading your keystone file, and entering your account password to revive an old wallet. 

### Step#3. Stake Your Desired Amount of FTM. 

Once you can access your wallet, you can transfer the desired amount of FTM tokens you wish to stake to a crypto exchange or your Fantom Opera wallet address. Click on the "Staking" menu; choose a validator to a delegation and the amount you want to stake and set up your desired lock-up period. There's also a stake-as-you-go option with no lock-up period. Moreover, the Fantom staking page is designed to estimate the rewards you can expect – the calculations are done by considering the staked amount, the lock-up period, and the current APR. 

## Why is Fantom Staking Popular? 

The platform's decentralized nature is one of the reasons. Fantom crypto staking is popular among investors, besides the DeFi feature that enables users to borrow, lend, and trade leading cryptocurrencies. 

FTM is also a decentralized governance tool allowing investors to be key decision-makers. Moreover, people enjoy staking Fantom because it employs blockchain technology's three main aspects: scalability, security, and decentralization. 

## Is Fantom staking a good idea?  

Staking Fantom crypto can be a great way to receive passive income and profit from your FTM tokens as you contribute to the success of the blockchain economy. It's also relatively safe to stake FTM since there's no way a validator node can access your staked coins. You only need carefully safeguard your mnemonic phrase or private key. 

Remember that just like all other proof-of-stake blockchains, there’s always a risk of losing a fraction of your stake if the validator misbehaves or during the bear market. Remember, your funds become illiquid when you stake and lock up your FTM tokens. 

phantoms flying around fantom logo with blue filter

Fantom crypto staking: Fast, flexible investment 

If you're considering making money from your crypto holdings in 2023 and beyond, this guide discusses Raydium staking and shows you how to make money from it.  

There are different ways to make a fortune from the burgeoning cryptocurrency market. Most people have only heard about buying and HODLing crypto traditionally while waiting for prices to improve, but staking to earn passive income on idle cryptocurrencies in an ingenious method.

## What is Raydium?

[Raydium](https://raydium.io/) is a decentralized automated market maker (AMM) built on the Solana blockchain. It draws its liquidity from the Serum decentralized exchange (DEX). The platform facilitates trading digital currencies, like cryptos, via liquidity pools, which remain a significant feature in the Decentralized Finance (DeFi) circles.

Liquidity pools are made of individuals (liquidity providers) who lock their crypto in a smart contract to be used as trading pairs in markets for traders on the DEXs. An AMM protocol guarantees liquidity in a digital market, such as a cryptocurrency exchange. AMMs are designed to set asset sales and purchase prices automatically and are primarily used in predictive markets. 

As an AMM, Raydium plays two fundamental roles. Apart from providing access to Serum’s order book, its algorithm is based on CFAMM (constant function automated market maker), a continuous function whose architecture is anchored within Solana and Serum.

## What is RAY and how does it work?

RAY is the native token of the Raydium ecosystem. It was launched on 21 February, 2021, with an initial supply capped at 555 million tokens. The RAY development team apportioned and locked up 20% of the supply that couldn't be sold for three years. One-third of the total RAY token supply (188 million tokens) is available for mining, and it's estimated that block rewards will be halved every six months. In the same vein, 0.03% of transaction fees earned on the platform are reserved for Raydium staking rewards.   

## What can RAY tokens be used for?

Holders of the RAY token can generate interest, totaling up to 0.03% of the platform's total trading fees, via Raydium staking, besides getting some limited rights to intervene partially in the protocol's governance. RAY holders can also vote for proposals on amendments and issues submitted to the community. The size of a user's voting power is determined by the amount of RAY tokens they own. You can buy RAY from numerous leading cryptocurrency exchanges where it's listed or directly from the Raydium website.

## What is Raydium staking?

[Staking in crypto](/news/article/what-is-staking-crypto) is a process similar to the mining function. Participants are selected to add blocks and establish the validity of transactions for which they get rewarded in crypto. While the exact implementation may differ for different projects, participants lock in their tokens for a specified period to guarantee that they will act in good faith and not violate the rules.  
  
If you're a long-term crypto holder, Raydium staking can work for you by generating passive income instead of you letting your digital assets gather dust in your wallet.

Moreover, staking contributes to the security of the Raydium protocol, making it resistant to attacks as you strengthen its transaction processing ability. Staking Raydium in its farms of fusion pools also enables you to earn more RAY tokens. Currently, stakers can make an annual percentage return (APR) for staking RAY at [9.84%](https://raydium.io/staking).

## How to stake RAY 

Raydium staking is a straightforward process that takes three simple steps:

1.	Select your favorite crypto exchange.

2.	Buy RAY tokens or transfer your coins to your [crypto wallet](/news/article/cryptocurrency-hardware-wallet).

3.	Stake, and wait to start earning.

You can also stake directly on the Raydium website by clicking the STAKE tab and confirming the transaction.

Your RAY token rewards will grow depending on the current APR against the RAY vault. You can collect your accrued rewards at intervals. At this point, you withdraw your original staked amount plus the earned rewards.

## Is staking Raydium a good investment? 

Since the character of cryptocurrency experiences a wavelike motion, there's every chance that the price of RAY can appreciate and get to an all-time high as the crypto winter thaws. Should the price of Raydium increase, it could generate good returns, giving Raydium staking a good long-term earning potential.


green image of Raydium crypto token logo with periodic table in the background

Raydium Staking: Earn Crypto Rewards Easily 

Peculiar to Proof-of-Stake (PoS) networks, crypto staking has become a popular means for holders to put their idle digital assets to use and earn passive income. Since there's good money to be made, this article explains what to consider when choosing the best platform to earn staking rewards besides proposing a few select ones.

## Understanding crypto staking 

[Crypto staking](/news/article/what-is-staking-crypto) imitates a regular savings account where users lock up their cryptocurrency for a specific time to secure the network. The platforms use the staked funds to process transactions and strengthen themselves from attack. Stakers, for their effort, earn staking rewards, a portion of the transaction fees made by the platform. Through staking, users of a particular blockchain unite to ensure the blockchain's integrity and security.

## How to stake crypto 

The process of staking crypto is usually similar for most PoS cryptocurrencies:

### Step 1: Buy a PoS cryptocurrency

### Step 2: Choose a digital wallet that supports staking (MetaMask and Atomic are good examples) for the coin you want to stake.  
 
### Step 3: Transfer your cryptocurrency to your digital wallet. (It’s safer using your wallet instead of the ones offered by exchanges).

### Step 4: Stake directly to a validator or join a staking pool

### Step 5: Start earning rewards. The system automatically adds your rewards to your staked amount, enabling you to earn more the in the next earning round.  

Considerations when choosing the best crypto staking platform
It would help to consider the following factors before deciding on the best staking service provider.

The number of stakeable coins: The greater the number of stakeable coins, the more avenues for generating passive income, meaning you can spread your risk across many tokens. 

APR on Offer: The Annual percentage return (APR), also known as annual percentage yield (APY), should be a key consideration. The higher the APR, the more income you generate. 

Fees: Research the fees charged when looking for the best crypto staking platform and weigh your options carefully since some offer zero fees for staking.

Security: The security of your cryptocurrency is paramount. Before signing the dotted line, determine if the platform is regulated by any global body and its security measures.  

## Best crypto platforms for staking

Since most native exchanges offer users a chance to earn passive income from staking, we will introduce five leading platforms so you can choose the best crypto staking platform for you.

1.  Crypto.com 
The Singapore-based [Crypto.com](https://crypto.com/earn) runs a crypto staking pool and allows users to stake on several leading coins, including Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), its native token Cronos (CRO) and at least 40 others. The platform offers flexible and locked staking and charges 2.99% staking fees. The most notable features include the following: 

•	Deep liquidity.

•	A wide variety of assets.

•	Higher earnings if you stake Cronos.

•	Access crypto at the actual cost.

•	Lock-up period of up to 90 days.

•	APR – 14.5%.

2.  Binance Earn 
Launched in 2017 and considered the largest cryptocurrency exchange worldwide, Binance trades more than $65 billion daily and is loved by crypto users globally. It runs a crypto staking platform called [Binance Earn](https://www.binance.com/en/defi-staking) that offers DeFi, locked and flexible staking, and doesn’t charge staking fees. Some features include: 

•	Supports most PoS coins.

•	High-interest rates.

•	Different deposit options.

•	Lockup period up to 90 days maximum.

•	Supported coins: Most PoS coins.

•	APR is variable.

•	Interest distributed daily.

•	High-level security.

3.  Kraken 
The US-based [Kraken](https://pro.kraken.com/) cryptocurrency exchange is popular as it’s built to attract newbies and expert cryptocurrency investors, offering many tradable digital assets. Kraken provides a sizeable crypto staking library allowing users to earn from at least 12 coins. The platform offers an option to pay staking rewards in fiat currencies like the USD and Euro. Key features:    

•	Offers cryptocurrency and fiat staking.

•	Off-chain staking available.

•	Efficient staking experience.

•	Flexible and locked staking.

•	Interest paid twice weekly.

•	Variable staking fees.

•	Supports 12 PoS coins.

•	APR – Variable.

4.  eToro 
Staking is free for members of various [eToro](https://www.etoro.com/crypto/staking/) clubs, but the earnings vary based on the particular membership plan. The staking rewards are split according to membership category: Bronze - 75% of the yield, Silver, Gold, and Platinum – 85%, while Diamond and Platinum+ earn 90% of the yield. APR is between 5 and 6.25%. The eToro platform currently supports three cryptocurrencies for staking, namely Ethereum (ETH), Cardano (ADA), and Tron (TRX). Features include:

•	High yield ratio.

•	High-level security.

•	Social trading capabilities.

•	Locked staking.

•	Variable staking fees.

•	Interest paid monthly.

5.  Gemini 
[Gemini exchange](/news/article/gemini-staking-support-launches) is a state-of-the-art crypto staking platform offering staking rewards of up to 8.5% APR besides allowing staking for stablecoins. The platform provides zero transfer and withdrawal fees, with no minimum staking amount or hidden costs. Some notable features include:    

•	Supports over 40 coins.

•	Offers cold storage.

•	Regulated by New York State Department of Financial Services.

•	No staking fees.

•	Variable APR.

•	Interest paid monthly.

## Conclusion

This guide has discussed crypto staking, choosing the best platform, and a rundown of the leading platforms and the coins they allow staking on. If you're going to put your hand into your pocket to trade, do more research and only put in an amount you can afford to lose.


Best Crypto Staking Platform Review

If you're looking for a non-traditional way of making interest, KDA staking could be an attractive option.

While cryptocurrencies are generally volatile assets and involve some amount of risk, it's possible that you don't know that staking crypto could offer higher returns than you could earn in your traditional savings account. Read on to understand how you can do it.

## What is Kadena?

Kadena coin (KDA) is the native coin of [Kadena](https://kadena.io/), a hybrid blockchain network that presents itself as an alternative to market leaders like Bitcoin (BTC) and Ethereum (ETH). The digital currency can be used to pay for transactions on the Kadena blockchain besides compensating miners for mining blocks on the network. The token is available on a number of centralized exchanges that mainly offer KDA/USDT and occasional KDA/BTC pairs.

## What is crypto staking?

[Crypto staking](/news/article/what-is-staking-crypto) refers to locking your digital assets for a specified time to support a blockchain network's operations. Blockchains, especially those that use a Proof-of-Stake (PoS) consensus mechanism, use a network of participants to validate transactions and add new network blocks. The participants earn more cryptocurrency in return for staking their crypto as a form of insurance. However, should the stakers validate a fraudulent or flawed transaction, they risk losing some or all of their staked crypto. Ethereum (ETH) and Solana (SOL) are examples of other networks that offer crypto staking.   

## How KDA staking works

Staking on PoS blockchains is a continuous process since transaction validation is ongoing. Besides putting their idle cryptocurrencies to work without selling them and earning passively, KDA staking offers token holders network decision authority. That's almost similar to putting money in a savings account or investment bank and receiving interest.   

What you can earn depends on the crypto supply on the participating exchange and the borrowing demand by financial institutions, commercial, retail borrowers, and staking. Stakers can choose durations between one month, three months, six months, and one year. Generally, the longer the staking duration, the greater the number of rewards based on the timeframe. What you can earn in KDA staking rewards ranges from 11% Annual Percentage Rate (APR) for a one-month plan, 14% and 16% for three months and six months, respectively, and up to 18% APR for a one-year program.

## Is Kadena staking a good investment?

The best thing about KDA staking is the opportunity to earn additional tokens, which can be lucrative. You can reach more than 20% or even 100% in extreme situations during the best times, making it an advantageous investment option.

Moreover, unlike crypto mining, which requires investing in hardware whose value goes down with time, the amount of KDA you stake doesn’t depreciate. Only price movements can affect the value of your Kadena tokens. 

With Kadena price forecasts showing the token price could improve and go beyond $2 in 2023 to a maximum of $2.50, this could become a profitable investment in the future at the current prices.


KDA Staking: Earning Kadena Rewards 

The development of blockchain technology over the last couple of years has brought many new and exciting concepts to this nascent asset class. There are none more exciting than the crossover between blockchain, crypto, and gaming, such as UFO Gaming.

Popularly known as Play to Earn (P2E), this novel concept allows gaming fans worldwide to earn rewards while competing in competitions and tournaments. Most [games are free to play](/news/article/free-play-to-earn-games), but players can purchase NFTs from rewards earnt during the game.

One of the [latest P2E games](https://ufogaming.io/about) on the market is UFO Gaming, designed by a team of crypto and gaming enthusiasts to 'bridge the gap' between blockchain and gaming.

The team has managed to create an elaborately exquisite environment they have called the Dark Metaverse, where all the action takes place. Here players can build profiles and earn rewards, which can then be used to buy in-game items that players can own.

UFO Gaming has had a strong start and developed partnerships with some of the biggest names in crypto and gaming making. This a project which has caught my eye.

## Staking

For players to play the game, they must first generate Plasma Points and/or UFO Rewards, which can then be used to purchase in-game items and NFTs. This is achieved by staking your precious UFO Gaming crypto tokens, $UFO, on the in-house smart contract. Once tokens have been acquired, players can purchase Genesis NFT Soldiers, which are required to play the debut game Super Galactic. All staking rewards enter a 12-month vesting period after claiming.

There has already been a fair amount of interest in staking, with some $2.7 million already staked. With an average APR of 40.9%, it is easy to see why. Players can choose between Locked or Flexible staking, which, as the terms suggest, depends on whether they want to claim their rewards straight away. However, Locked Staking generates 2x more rewards than Flexi Staking.

Players only need one NFT to begin playing the game. However, with a maximum number of 10,000 available, it is easy to see why demand has been so high. Once the NFT creation phase completes, interested parties will be able to trade NFTs on the NFT marketplace.

## $UFO token

This all sounds great. Where do I get my UFO Gaming crypto tokens?

In a sign of the size of the project and overall confidence, the native coin is available from several primary sources. Both centralised and decentralised exchanges are listing $UFO. 

However, the main places you can purchase the token are KuCoin, UniSwap, Gate.io, and ShibaSwap. It is also available from BitMart and MEXC. Current statistics show there are 66,636 holders of $UFO, which, according to the latest market data, has a price per coin of $0.00000197.

## Values

The UFO Gaming crypto project has been developed around 4 core values which underline its commitment to the twin realms of blockchain and gaming. These are:

### Community – the project is 100% community-owned and strives to keep decentralisation at the heart of every decision.
Gaming – being gamers at heart, the project has been designed to challenge and empower gamers in all aspects of gameplay.

### Accessibility – The game has been designed to break down any hurdles surrounding blockchain technical jargon making the game accessible to players of all levels.

### Ambition – Not satisfied with maintaining a status quo, the team behind the platform has big plans for the future.

## UFO Gaming crypto partners

Apart from impressive statistics on the amount already invested, the project stood out due to the number of industry partners to have already signed deals. Some of the biggest names in crypto are associated with the project, which points to the project's legitimacy. KuCoin, Chainlink, Polygon, and ShibaSwap are all listed on the website, which gives me confidence in the team and project.

## Conclusion

As you can see, UFO Gaming is in a perfect position to take the P2E world by storm.

The product it has created is slick and fun to play and has so far generated more than $2.7 million in value staked. The recent hosting of a $10,000 gaming tournament and the [acquisition of a first-class e-sports team](https://ufogaming.io/eSports) shows how ambitious the team behind the project really is. This is a project to watch out for in 2023.


UFO Gaming Crypto Staking Explored 

Tumbles in crypto values have followed the decision of cryptocurrency exchange Kraken to suspend staking.

On 9 February, major coins were in the red, causing a drop in the cryptocurrency market capitalization by 5.45% to $1.02 trillion. Bitcoin fell below $22,000, while Ethereum dropped to $1,549. Doge went down by 10.07% at $0.081.

Meanwhile, US stocks took a hit and erased previous gains, as concerns about potential decisions from the Federal Reserve overshadowed positive reactions to the latest round of corporate earnings reports. The S&P 500 saw a decline of 0.9% and closed at 4,081.50, while the Nasdaq Composite Index experienced a drop of 1.02% and fell at 11,789.58.

[Kraken](/news/article/crypto-exchange-kraken-faces-sec-probe) made a settlement with the US Securities and Exchange Commission. As part of the settlement, Kraken agreed to suspend its cryptocurrency staking operations and immediately discontinue its crypto staking-as-a-service platform for US customers. The [SEC](/news/article/sec-probe-giving-advice-for-crypto-trading) charged Kraken for offering unregistered securities and has asked it to pay a $30 million penalty.

## Investors witnessed [crypto tumbles](https://www.benzinga.com/markets/cryptocurrency/23/02/30850294/over-200m-long-crypto-positions-wiped-out-as-bitcoin-ethereum-dogecoin-drop?SNAPI) across markets in the aftermath of the Kraken suspending staking operations

Almost $200 million worth of long and short crypto was liquidated in the past 24 hours. More than 43% of liquidations worth $100M took place on Binance. Of the total liquidations, $53M worth of BTC was liquidated, ETH liquidation stood at $52M, and Doge liquidation totalled around $5M.

## Crypto analyst advice to traders after crypto tumbles

Crypto analyst Rekt Capital has sounded the alarm on [Bitcoin's](/news/article/jim-cramer-says-ignore-bitcoin-hype) impending losses. According to the analyst, the BTC must close above $22,692 to maintain its technical uptrend.

The analyst has cautioned traders about the dangers of making trades based on "fear of missing out" (FOMO) and instead suggests, "if you must FOMO, choose a red day".

Another crypto analyst, Kaleo, views the recent retest of the high-timeframe trend breakout as a supportive factor for Bitcoin. Kaleo believes that the market has yet to experience a significant breakout, which presents an opportunity for investors to accumulate more BTC. Although it may take some time, Kaleo believes that the $30,000 level remains a target for the cryptocurrency.


red image of kraken logo and Ethereum, Dogecoin and Bitcoin tokens falling

Crypto Tumbles as Kraken Suspends Staking

Brian Armstrong, CEO and co-founder of Coinbase, has expressed opposition to the potential ban on end-user crypto staking in the US. He shared his views in a [Twitter thread](https://twitter.com/brian_armstrong/status/1623459203150131201?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1623459237631528960%7Ctwgr%5E862a6b7c3994d5642726da789626635dbbbfa090%7Ctwcon%5Es2_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fgetting-rid-of-crypto-staking-would-be-a-terrible-path-for-the-us-coinbase-ceo) posted on 9 February, which has since received over 2.2 million views. 

## Brian Armstrong explains opposition

The Coinbase CEO strongly opposes the potential ban on crypto [staking](/news/article/staking-on-revolut-announced) in the United States. In the Twitter thread, he posted that the US Securities and Exchange Commission ([SEC](/news/article/sec-probe-giving-advice-for-crypto-trading)) was considering ending retail [crypto staking](/news/article/what-is-staking-crypto). 

He chose not to disclose the rumour's origin, but emphasised the significance of currency locking and quoted it as "a really important innovation in crypto".

According to him, virtual currency locking brings numerous benefits to the cryptocurrency space, including improved scalability, heightened security measures, and a reduced carbon footprint.

He also referenced a [blog post](https://www.paradigm.xyz/2022/10/ethereums-new-staking-model-does-not-make-eth-a-security) from crypto investment firm Paradigm, published on 5 October. It argued that Ethereum's transition to Proof of Stake and its resultant staking model does not classify it as a security.

This argument from Paradigm came just a few weeks after SEC Chairman Gary Gensler raised concerns about proof-of-stake cryptocurrencies potentially violating securities laws while talking to reporters after a Senate Banking Committee meeting on 15 September, 2022.

Armstrong strongly criticised the lack of regulatory clarity in the US and the "regulation by enforcement" approach driving companies, such as the failed exchange FTX, to move offshore. He also emphasised the need for regulation that offers clear guidelines for the industry while promoting innovation.

## Crypto staking ban could deal a significant blow to the crypto industry

As reported by [Staking Rewards](https://www.stakingrewards.com/), the top four cryptocurrencies staked by market capitalisation account for more than $55 billion in staked assets. This highlights the potential impact of a nationwide ban on the already struggling cryptocurrency industry, which has seen an outflow of related businesses.

Some experts in the industry predict that the SEC might target centralised token-locking service providers rather than the technology itself. They believe that going after the technology would result in a losing battle that would set a damaging precedent.

Coinbase, one of the leading centralised exchanges, is currently facing an SEC investigation, which was disclosed in an SEC filing on 9 August 2022. The probe is related to Coinbase's staking rewards program and other offerings.


Yellow image of Coinbase CEO and bitcoins

Brian Armstrong Opposes Crypto Staking Ban 

UK and European customers of the British neo-bank Revolut can now reap benefits from [staking on Revolut](https://blockworks.co/news/revolut-crypto-staking-rewards). The bank announced that customers in supported countries could earn up to 11.65% annual yield, paid in the corresponding tokens, on four cryptocurrencies; Ether, [Cardano](/news/article/cardano-analysis-and-explanation), Polkadot, and Tezos.

This neo-bank is providing the highest yield for DOT at present as compared to other platforms. However, by staking the token directly to the Polkadot network as a validator, one can earn an average annual gain of 14.43%. If you stake DOT through Revolut, you will miss out on nearly a 3% yield. The funds will be kept with reliable custodians, while the company will manage the user's private keys.

## Revolut continues crypto expansion with staking rewards

This [fintech](/news/article/fintech-companies-uk-2023) unicorn is seeking to capitalise on the potential for growth in the digital asset market with the launch of its yield from staking initiative. The fintech giant initially dipped its toes into cryptocurrency by allowing its users to purchase BTC, ETH, and LTC in 2017. [Revolut](/news/article/revolut-review-everything-to-know) has since expanded its selection of supported digital assets, offering more than 90 tokens. 

Furthermore, it allowed users to withdraw Bitcoin to their wallets in 2021.
The company is offering its customers the opportunity to earn cryptocurrency rewards by allowing Revolut to "stake" their coins to verify blockchain transactions. This move shows that they are embracing crypto after several market crashes.

The staking rewards feature will be accessible to customers in Britain and approximately 30 other European nations as part of Revolut's plan to broaden its crypto-related offerings, as stated in a recent statement.

In the last known funding round in 2021, this fintech start-up was valued at approximately $33 billion, making it the most valuable start-up in Britain then.

Owners of crypto assets operating on a Proof of Stake blockchain can stake a portion of their assets to participate in validating transactions. As a reward for their efforts, validators receive transaction fees and/or newly minted crypto assets.


Staking on Revolut Announced

Whether you're new to Helium and HNT staking or a seasoned professional, you can use several tips and tricks to improve your staking experience. Here's a brief guide of things you should know before you begin.

## HNT staking explained

### Become a validator to stake HNT: 

[Helium staking is the process of staking coins and crypto](https://www.helium-staking.com/). The amount of money a validator earns depends on the initial stake. The minimum staking amounts vary by coin, but can go as low as tens of thousands of dollars. The amount of rewards for earning also varies by the total supply of HNT in circulation.

You can stake multiple validators to increase your chances of earning. You can also stake different types of cryptocurrencies. There are two basic types of staking: partial and full. Generally, [a full staker retains all earnings minus the operational costs](/news/article/crypto-lending). However, a partial staker can split the stake with other validators in the Vanager network.

A validator node is a beefy cloud computer that performs consensus group. It adds new blocks to the blockchain and checks transactions. It also maintains the shared network state and helps keep the network secure. You can get a validator node started by staking 10,000 HNT. Then, you'll need to install the node software in a suitable environment.

To earn rewards, a validator must be online and perform consensus group work. HNT staking rewards are paid out every 30 blocks and a validator node is rewarded for stability and security. There are a few penalties for failing to participate in the consensus group.

If a validator is not in contact with the network for a period of time, the reward is slashed. The maximum penalty is five months. Then, they can participate in the Consensus Group again after the same amount of time.

For those looking to earn passive income, you can also invest in an unstaking validator. These are great ways to support the network without staking.

### Transition to Proof of Stake

Using crypto-economic incentives, Helium (HNT) incentivizes participants to build Internet of Things (IoT) networks. The network is secured by Helium's blockchain, and hotspots provide service to IoT devices.

In the past months, there has been a significant MoM increase in the number of hotspots on the network. These operators are using consumer-grade hotspot hardware and basic internet connections.

Helium uses the Proof of Coverage protocol to validate hotspot locations. This allows the network to operate securely across distributed operators. In addition, it distributes rewards to HNT holders. 

These rewards are then sent to verify transactions.


blue image of hnt helium token over trading statistics

HNT Staking and Maximizing Returns

Chainlink, a blockchain oracle network, has announced that its much-anticipated staking feature is now live. As said by the company, Chainlink staking plays a significant role in "Chainlink Economics 2.0", which was made in an effort to increase security and promote sustainable growth.

As seen on [Chainlink’s blog](https://blog.chain.link/chainlink-staking-roadmap/), staking will improve the network's security while also helping it serve a higher number of applicants.

Previously, Chainlink users who wished to receive the LINK token could do so by launching their own nodes. With the all-new staking system, users holding Chainlink tokens can earn more while increasing the platform's overall security.

## How does Chainlink staking work? 

Chainlink staking was first launched as a beta v0.1 that included a staking pool that secured the data feed linked to ETH/USD within the Ethereum mainnet. As a reward, users and token holders could earn for supporting and helping enhance the screen's performance by simply being a part of a decentralized altering system. The system works by flagging or reporting the network when the performance requirements are not met by the data feed.

Sergey Nazarov, a co-founder of Chainlink, said that the launch of the staking feature builds the foundation of the [Chainlink](/news/article/chainlink-news) Economics 2.0 program and will improve over time. He stated that as the network continues to expand, the staking feature will continue to evolve and deliver enhanced security across our ecosystem and throughout Web3.

The team at Chainlink is confident. It says that as the platform works on releasing new oracle features and services, the network security will match the ever-increasing value within applications that are run by Chainlink.

On 29 November, 2022, the LINK token started to gain popularity ahead of the staking feature launch. It is predicted this will boost the demand for the LINK tokens along with oracle services available on the platform.


Green image of chains with the crypto chainlink logo in front in white

Chainlink Staking to Boost Oracle Security

Gemini, a New York-based crypto exchange, has announced that it will offer staking support for its investors, particularly those in Hong Kong, Singapore, and the US.

This means that platform users can participate in [staking rewards](https://www.coindesk.com/learn/crypto-staking-101-what-is-staking/) for MATIC on the Polygon network. It will also roll out support for DOT, SOL, AUDIO, and ETH in the coming months. This move is expected to help bolster Gemini's goal of becoming the world's most trusted and regulated digital asset platform.

It aims to provide greater returns on investment for its users. Several exchanges are looking to add staking services. [This follows Ethereum](/news/article/ethereum-the-merge) 2.0 replacing Proof-of-Work (PoW) with a faster and more energy-efficient Proof-of-Stake (PoS) system on 15 September.

## Gemini staking

Layla Amjadi, Vice President of Product for Gemini, said that "the firm's decision to introduce staking services was driven by investor interest in [the merge](https://www.coindesk.com/learn/what-is-the-merge-and-why-has-it-taken-so-long/)". The VP further told CoinDesk that it has become abundantly clear that Gemini staking is something people are interested in, especially with Ethereum's recent merge.

It provides more liquidity and higher yields, making it a more desirable option. The company will pay for the infrastructure and gas needed to stake and unstake, as well as penalties that might be charged in the process.

## Should you consider Gemini staking?

There are reasons you might want to stake your coins:

•	It's a great way to earn passive income, rather than just holding your coins and waiting for them to appreciate in value.

•	When you stake, you help to secure the network and encourage more people to participate in its governance.

## How to stake coins on Gemini

If you would like to stake your cryptocurrencies on Gemini, you need to do a few things.

•	You'll need to create an account on the platform and verify your identity.

•	Deposit the cryptocurrencies that you want to stake into your account. Once your coins have been deposited, you can begin earning rewards.

The addition of staking services by Gemini comes at a time when more and more exchanges are looking into similar offerings. They include; Binance, Huobi Global, Bitmax, OKEx, Gateio, KuCoin, Coinex, and Bibox.

This increasing competition is likely driven by the recent attractive returns generated by PoS networks. For example, Cosmos' ATOM token holders can earn an annualized return of up to 50%.

Gemini staking support is another example of the exchange's commitment to providing a well-rounded user experience. Offering this service makes it easier for investors to earn a passive income from their digital assets. And with more assets expected to be added, the platform will become one of the go-to exchanges for crypto stakers.


Gemini Staking Support Launches

The network's basic principle is to function as an innovative contract platform that provides users with a one-stop hub for redeploying Ethereum Dapps without the need to configure them specifically for this network—built on the [Kusama](https://guide.kusama.network/docs/learn-staking/) blockchain, which serves as Polkadot's Canary network. 

Even though Kusama uses the same code as Polkadot, the network's capabilities are limitless. Kusama has grown into an independent ecosystem with a fully committed community and teams working on incredible web 3.0 projects.

Existing innovative contract platforms support users and assets on a single, specific chain. Moonriver enables developers to shift existing workloads and logic to smart contracts by extending the scope of applications to new users and assets on other chains by providing cross-chain smart contract functionality.

## How Moonriver staking work?
 
•	Users must have [MetaMask](https://metamask.io/) installed

•	Go to [apps. Moonbeam. network/moonriver](https://apps.moonbeam.network/moonriver)

•	Users should connect their MetaMask wallet and switch their network to Moonriver

•	Navigate to 'Manage Delegations'

•	Choose 'Select a collator.'

•	Select a collator and click stake

•	Ensure there is a minimum bond for each collator

## How to choose a collator for Moonriver staking? 

[Users](https://www.stakingrewards.com/earn/moonriver/) must select a collator with a lower total bond amount to optimise their delegation. By choosing a collator with a lower total bond, their delegation amount represents a greater percentage of the total amount [staked](/news/article/what-is-staking-crypto), resulting in a slightly higher reward. The collator list on the staking app is sorted from top to bottom, with the lowest total amount staked at the top and the highest at the bottom. They should be cautious, however, when delegating to the lowest amounts of total stake because they are most likely to be bumped to the waiting pool.

## Important things to note:

•	The total amount staked to the collator is small. Investors want to maximise their share of the rewards, so selecting a collator with a low total stake is advantageous. 

•	In the active set, it should not be too low. Collators on the verge of leaving the active set face greater risk: if another exceeds their total stake amount and leaves the set, all delegators will cease earning rewards. 

•	Rapid block production. Users want a high-performing collator with a higher chance of producing more blocks because rewards are according to the number of blocks produced each round.

•	Reputable. Users should use their assigned identities if they have one. By searching for them on Discord or elsewhere on the internet. Do they offer network infrastructure on other networks? Is there a track record of providing high-quality and validator services?

## How much can users earn from Moonriver staking? 

Users can earn X% on their $MOVR by experimenting with [lending metrics](/news/article/crypto-lending) and predicting earnings under various network conditions. 

## Are there risks to Moonriver staking?  

On the Moonbeam network, there is no risk of slashing. Since Moonbeam does not slash, users will never lose their original delegation amount. If an investor's chosen collator stops producing blocks, there is no reward for the time they are not producing blocks. Furthermore, there is a two-day unbinding period before users can access and transfer their delegated funds.




How Moonriver staking works

The long-awaited [Ethereum merge](/news/article/ethereum-merge-date) has transformed the blockchain into Proof-of-Stake (PoS). On Thursday, the upgrade was completed, which was welcomed by crypto investors all around the globe. 

Gary Gensler, the chair of the [Securities and Exchange Commission (SEC)](https://www.sec.gov/), has also followed the developments. He hinted that Ethereum might be considered security after the upgrade. Gensler also warned that the securities laws might also apply to Ether staking. He shared his points while speaking to the media after testifying before the Senate Committee. 

## Ether staking could trigger securities laws

According to the SEC chair, any digital coin or intermediary that investors can ‘stake’ will be identified as ‘security’ through the Howey Test. The Wall Street Journal [reported](https://www.wsj.com/articles/ethers-new-staking-model-could-draw-sec-attention-11663266224) that Gensler remarked, “From the coin’s perspective … that’s another indicia that under the Howey test, the investing public is anticipating profits based on the efforts of others.”

Though the chair has not mentioned any particular cryptocurrency, the remarks were made the same day as the Ethereum Merger. Many speculate that he was referring to Ether staking as its consensus mechanism has changed from Proof-of-Work to [Proof-of-Stake](/news/article/pos-vs-pow).

Gary Gensler also explained that staking is quite similar to lending. About this, his comments were, “[it] looks very similar—with some changes of labelling—to lending.”  

## SEC stance on securities

A security asset generally includes bonds and stocks. The service providers related to this type of assets in the United States must disclose them per the defined securities laws of the 1930s. That’s why any crypto exchange or brokerage also has to comply with these laws. If any asset is deemed a security, regulators might take legal action against the service provider. 

Previously, the regulating body has charged several firms for violating [securities laws](https://www.history.com/topics/us-government/securities-and-exchange-commission). The [SEC vs Ripple labs](/news/article/xrp-court-case-update) is a highly anticipated lawsuit in the crypto space. 

The regulators deemed the XRP token as a security and charged the firm for irregularities. 

The conclusion of this case might affect several other tokens too. The regulators also penalised BlockFi with a $100 million fine as it failed to register its interest accounts. 



Securities laws may apply to Ether staking, warns SEC

There are plenty of ways to make money from growing your crypto portfolio through crypto lending, HODLing, mining, etc. However, one can grow crypto through staking, airdrops, interest accounts and gaming as well. 

Here we’ll be explaining some basics of growing your crypto but don’t forget – before any new investment, be sure to DYOR (Do Your Own Research) as well.

## Crypto Lending

Crypto lending could enable you to generate an extra revenue stream without much effort. 

Basically, if you already have some cryptocurrencies stashed in your wallet, you can lend them to other crypto users or platforms. 

[DeFi](https://www.ledger.com/decentralized-finance-defi/) protocols have become massively popular nowadays. And why wouldn’t they? Via DeFi protocol, an average user can get an instant loan without having to wait in a queue, read small letters on 100-page agreements, sign tons of documents, or find three bondsmen and put the second mortgage on the house.

On DeFi platforms, so-called smart contracts replace third parties and enable users to lend and borrow digital assets from each other.

Smart contracts are smartly coded transaction protocols meant for automatically executing, documenting or controlling operational processes (i.e.borrowing or lending money) as per the signed terms of a contract or an agreement. No human intermediary is necessary as the whole is fully automated. 

To completely secure your investment, you can lend out stablecoins and generate around 1 to 11% APY. 
 
However, it’s important to understand what collateralized loans are. Basically, they’re making sure a borrower doesn’t just take your money and run.

Most crypto lending platforms are, therefore, dealing with over-collateralized loans. It means that a certain lending protocol needs you to collateralize your loan with some crypto minimum. (e.g. 150% of ETH). If a borrower takes $1,000, he automatically locks no less than $1,500 worth of ETH as collateral. 

This is to make sure the lent funds are safe even if the borrower cannot pay back the loan.
You can lend your crypto in multiple ways. 

Decentralized protocols will lend your cryptocurrencies for a set interest rate and it will generate interest for you. Because there are no intermediaries, you get bonds (usually tokens) through the smart contract and they act as proof of the amount you lent. 

However, if this sounds too complicated, you can always choose to lend your crypto through centralized platforms. However, that would mean you’re not really the crypto owner and you could even pay a service fee. 

## Crypto Staking

One of the simplest ways to increase your crypto portfolio is crypto staking.

Staking offers an exciting opportunity to receive rewards for participating in blockchain validation. However, while it may seem simple and easy to get involved, staking is more complex behind the scenes and introduces unique risks.

One of the factors that differentiate cryptos from fiat money is that the people who use them are the ones operating them. Bitcoin, for example, completely depends on its numerous network participants (nodes) to work in balance via [consensus protocol](https://www.ledger.com/academy/consensus-protocols-how-are-blockchains-secure) called proof-of-work. 
 
## What is a Proof of Work?

Those who run fully operating Bitcoin nodes a.k.a. miners, put all recent transactions in the form of a block of data and repeat the process every ten minutes (so-called Poisson process). Each block has to refer to the previous block to become verified. After a block is mined, it is not visible right away, and until they find out about it, miners are competing against the new block instead of adding to it.

The [Bitcoin](/news/category/bitcoin-news) network uses a proof of work (PoW) mechanism to achieve the mentioned consensus.

Even though this can sound a bit complicated - the main concept is pretty simple.

We obviously cannot be sure of the exact identity of the miners to decide who will be the next block's creator so we can create a hard-to-solve puzzle that needs a lot of work to be answered but can be verified and checked very quickly.
To solve the puzzle, miners have to find the right hash (a unique code for a text or data file). They have to spend a decent amount of their resources on hardware components and electricity for that manner, but the award for each new block they find is – a Bitcoin.

## What is Proof of Stake?

Popularized back in 2011, the Proof of Stake (POS) consensus algorithm was presented as the solution for all the problems Proof of Work might have had.

The PoS consensus mechanism eliminates the high computational and energy requirements of the PoW. This upgrade in the consensus mechanism has been dubbed Ethereum 2.0 as it enables Ethereum network nodes to comply with the state of all previously recorded information on the Ethereum blockchain and avoid possible economic attacks.

Proof of stake demands that miners invest in and hold on to some store of value without the immediate need for spending energy in order to vote.

The PoS algorithm uses a pseudo-random selection process to choose a node that will validate the following block regarding various factors such as the staking age, randomization, and the node's wealth.


## Yield Farming

During the so-called Defi Summer of 2020, yield farming became pretty popular while crypto participants hurried to become “yield farmers.”  

Some DeFi protocols kept rewarding their early adopters with retrospective airdrops, giving users free tokens with a high Annual Percentage Yield (APY) as gratitude for using the protocol first. They were also urging the next phase of the platform’s growth with liquidity mining programs.  

Crypto APY is a  number high enough to attract yield farmers and liquidity providers to one platform over another.

## HODL

The word HODL (from the English HOLD, but misspelled refers to the decision to acquire an asset and keep it in the longer term). 

The whole strategy is based on buying cryptocurrencies at low prices so that you can earn gains when, in the future, the value of this cryptocurrency increases.

Analysis show that HODL came out to be one of the most profitable investment strategies, especially when it comes to Bitcoin HODL-ers. 


Guide to crypto lending, staking and HODLing

If you've ever seen the term and asked yourself, 'what is staking crypto?', we're here to help.
Staking crypto is an excellent method to make passive income from your crypto assets. The profits might especially appeal to people who have already invested a considerable amount of their net worth in cryptocurrency. 

In crypto, there are two basic consensus mechanisms: proof of work (PoW) and proof of stake (PoS). The role of consensus mechanisms is to assure the legitimacy of transactions. An additional block is added to the blockchain if a transaction is authorised. These protocols safeguard the network.
PoW systems safeguard networks by utilising computational power and do not enable crypto to be staked. PoS methods, on the other hand, maintain security through verifiers that tie up crypto — or stake it, as the term staking crypto implies. The validators are compensated for staking crypto to safeguard the network. 

Few cryptocurrency owners can become validators. This is owing to the high value of necessary crypto holdings and the requirement for hardware infrastructure with appropriate processing power. However, there are crypto-staking solutions with lower entrance hurdles.  

## How to Stake - What is Staking Crypto?

There are other staking pool alternatives available, including P2P Validator and Staking. These platforms provide cryptocurrency staking solutions that "pool" crypto assets from many participants. This implies that the quantity of cryptocurrency needed to stake is less than if a person became a validator individually. 
Exchanges are the most accessible and straightforward way for many crypto holders to stake their coins. Some of the top cryptocurrency exchanges, including Coinbase and Binance, provide crypto staking services.  

Coinbase compensates its members just for keeping a certain number of specific cryptos in a wallet, with dividends ranging from daily to quarterly. The staked cryptocurrency does not even need to be acquired through the Coinbase exchange.  
Binance is one of the most comprehensive cryptocurrency staking platforms. In most cases, it has more than 112 tokens that may be staked from one to four months. 

PoS cryptos are the only ones that can be staked. [Ethereum (ETH)](/coins/eth), Polkadot (DOT), Solana (SOL), NEAR Protocol (NEAR), Cardano (ADA), and Tezos are among the most popular and regularly staked cryptos (XTZ). 

## What is Staking Crypto - The Benefits

Cryptocurrency may be safely stored in a wallet, and ownership can be preserved throughout the crypto staking process. Staking cryptocurrency also gives benefits for confirming transactions and safeguarding the network.  
This reward is a percentage return, akin to a dividend or interest on a checking or savings account. The return varies depending on the cryptocurrency invested, but, in all cases, it is far larger than the yearly percentage returns that consumers obtain from traditional banks. 

The greater the amount of cryptocurrency staked, the greater the possible benefits. Those with substantial crypto holdings can thus become exceedingly wealthy through staking. It is a good method of wealth creation for long-term holders of PoS crypto assets. It may be quite profitable if done correctly. 
 
## Is Staking Crypto Safe?

The regular fluctuation of cryptocurrency prices is one disadvantage. As previously said, the yields generated will be determined by the crypto token. Volatile cryptocurrencies can provide bigger profits, but this comes with the danger of the underlying token's price falling.  
The recent Terra LUNA token crash, which resulted in billions of dollars in losses, illustrates this.

Some forms of crypto staking require assets to be locked up for a specific amount of time, which means no action can be performed even if the price of the cryptocurrency falls. Liquidity pool hacking might potentially result in the entire loss of the crypto tokens invested.

## Final verdict 

Staking cryptocurrency has both good and bad effects. For risk-takers, the potential of significant returns for little to no effort makes the venture viable. However, for the ordinary crypto investor, exchanges remain the greatest option for crypto staking.

Whether or not to what is staking crypto will depend on an individual's attitude towards risk. Crypto earners averse to risk may prefer to preserve the ownership of their assets. On the other hand, risk-takers would be more than happy to stake their crypto for higher potential returns.
Other risks include staking pools being hacked, which can result in total loss of the crypto asset staked.


What is Staking Crypto?

Binance announced on Monday, 30 May 2022, that it will be rewarding users who are staking BiSwap Coin (BSW). The promotion duration is 1pm UTC on 30 May to 12:59pm UTC on 9 June.

This [Binance Staking promotion](https://www.binance.us/en/staking) celebrates BiSwap's first anniversary as a cryptocurrency exchange after joining the market in 2021. This promotion is open to all Binancians who are fully verified.

## Why Does It Matter?

Binance remains the biggest cryptocurrency exchange by volume. Aside from this, Binance Staking is one of the best when it comes to rewarding users with high annual percentage yields (APY). BiSwap is one of several decentralised digital asset trading platforms in the space.

As of May 2022, every exchange has created a token that supports the fortunes of their respective platforms. Binance has Binance Coin (BNB) and BiSwap has BSW. 

BSW was added to Binance in March 2021, and the trading pairs of BSW/BNB, BSW/BUSD, and BSW/USDT were made available to traders across the globe. 

In May, BSW recorded a minimum and maximum trading volume of $30 million and $115.87 million, respectively, signaling impressive investor interest. 

This corresponds to market capitalisation of around $135 million (small-cap), which has made BSW a top 250 digital asset in terms of ranking. 

As part of its first anniversary, Binance Staking has made available two (2) promotions to increase the mileage of BSW and contribute to extensive demand for the coin, which will positively impact its price in the future.
Binance Staking Promotions for Biswap Coin (BSW) 

The first promotion is to deposit and stake BSW to get a chance to share $370,000 in BSW tokens. Overall, you can enjoy up to 107.59% annual percentage yield (APY). From 30 May through to 9 June 2022, you can engage in locked staking on Binance and see daily payouts.

For this promotion, Binance has capped the maximum limit per user to 100,000 BSW for 30 days, 10,000 BSW for 60 days, and 300 BSW for 90 days. 

The second promotion is primarily reserved for users who are new to locked staking. The first 6,000 new locked staking users on Binance will have the opportunity to share $37,000 in BSW rewards. 

When the agreed staking period ends, Binance Staking will return staked assets to users' respective spot wallets.

As of writing, BSW was changing hands for $0.6. This means that you need $60,000 to buy 100,000 BSW for 30 days of staking, $6,000 to purchase 10,000 BSW for 60 days of staking, and $180 to get your hands on 300 BSW for 90 days of staking. 

If you do not have thousands of dollars to spare, you stand a great chance of earning BSW rewards by staking $180 or more.

## About Binance Staking and BSW 

Launched in September 2019, Binance Staking has the purpose of being a value-added service to Binance users. With Binance Staking, Binancians can grow their portfolios by receiving periodical rewards and distributions by simply depositing and holding funds for a given time on the biggest exchange across the globe.  

Launched in 2021, BSW is the native asset of the first decentralised exchange platform on the market with a three-type referral system that comes at low fees. BSW is the governance token of the exchange and has a total supply of 700 million.  

Aside from Binance, BSW can be accessed on around 14 exchanges: Gate.io, Kucoin, AAX, Bitget, CoinTiger, Bitrue, Nami, MEXC Global, CoinEx, Folgory, BingX, BKEX, Hoo.com, and LBank.

More [Crypto Business news](/news/category/crypto-business-news).


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