If you’ve been paying attention to the crypto-sphere recently, you may have seen people talking about staking cryptocurrencies or passive incomes. So what is staking, where can you stake crypto, how can you get started.
March 20, 2021 · 3 min read
Custodial staking solutions exist on Binance and Coinbase
In this blog:
We’ve written extensively about the technical side of staking, what a staking wallet is, and where you should start. We think those blogs are worth your time; however, if you’re busy, here’s a brief refresher on staking:
Stakers validate transactions to keep the blockchain safe. Stakers work collaboratively to contribute to the health of the network by validating transactions and adding new blocks. Stakers are required to set aside a ‘stake’ of the currency they are securing. If you are staking 10% of the coins on a network, you can validate 10% of transactions. Stakers then receive rewards in the native currency.
Where do we start? Well, there’s the positive effect staking has on the collective. The more people staking, the more secure and robust that network is. Many crypto enthusiasts are incredibly passionate about keeping the network safe. However, for most people, this feel-good reason isn’t always enough. Luckily for them, staking rewards you in the currency you're helping to secure, so it's a win-win! If you’re wanting to know how to stake crypto, read our introductory guide to staking.
We will always champion non-custodial solutions. There are secure custodial solutions out there, but we believe in the user having complete control of their financial assets. However, some reputable custodial solutions have made our list. As always, this is not financial advice, and we strongly suggest that you do your due diligence!
How do you choose between custodial and non-custodial solutions?
There is only one person who can determine your risk tolerance or what will work. That person is you. Cryptocurrency is about self-empowerment and allowing users to choose the solutions that work for them. Never base your opinion on one blog or one person.
If you’re interested in understanding the risks of staking crypto and how you can mitigate them, read our blog on the subject. We can’t tell you what the best staking coins are (except for Divi), but we can help you understand how to make an informed decision on where to stake!
There is an incredible amount of information on the internet about staking, so take your time to learn the risks and best practices, so you can make the most informed decision!
If you know where you’re going to stake but need the best staking crypto-list to kickstart your research, start with these coins:
Upon release, the Divi Wallet will provide the best staking experience in the crypto space. Make sure you don’t miss it. Sign up for updates at wallet.diviproject.org.
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March 20, 2021 · 3 min read