Nowadays, the demand for blockchain technologies is growing, as more people realizing the prospects of this direction prefer to invest their money in Crypto. It is no secret that you can store cryptocurrency and get a percentage of it in return. It’s called staking, and it works almost like a deposit in a bank – but in a more beneficial way. The mechanics of staking are usually simple, and that’s why even for crypto beginners, it’s easy to go into staking campaigns.
But what is the difference between the conditions of the platforms offering staking? And which assets can be considered the most promising? Meanwhile, if you’ve never heard about staking or you can’t decide which cryptocurrency to stake, but you still want to have an extra source of passive income, this article will make it much easier for you.
What Is Staking?
Staking is a method of passive earning. Users keep their assets on the Proof of Stake (PoS) algorithm to ensure the efficiency of the blockchain. Users are earning rewards by holding specific cryptocurrencies. This feature is available only to cryptocurrencies that work on PoS, for example, BNB or ETH.
To cut a long story short, let’s just say that the purpose of any staking round is to multiply your assets.
Difference Between Staking Campaigns by Different Projects
You always have to be conscious about what to stake. The main criteria you should evaluate for staking campaigns are:-
- Annual Percentage Rate;
- A minimum / maximum amount of tokens to Stake for a single user;
- The max depositable amount for the entire campaign itself;
- The ability to withdraw assets at any time.
Which Assets Can Be Considered the Most Promising?
Staking may be risky, but nothing ventured; nothing gained. And despite all the advantages of crypto staking for earning passive income, there are numerous risks to be considered. Some of them we have mentioned here:-
- Cryptocurrency prices are highly volatile, which means they can swiftly devalue. If your assets lose a significant amount of value, you may not be able to earn enough interest to cover your losses.
- If you wish to use some of the most popular staking coins, you should be aware that they will remain locked for the staking period. This means that in the meanwhile, nothing else can be done with them for the staking period.
- While it’s possible to “unstake” your crypto earnings, doing so can take at least seven days for certain platforms. Fortunately, some platforms offer flexible staking, which allows instant withdrawals.
If you don’t want to take a risk, try to find staking without lockups of your staked assets. In that way, you’d be able to leave staking and get your reward as soon as you want. One of the most recent flexible staking options is $RBC staking by the Rubic project, which will start from December 23rd. Rubic allows you to join or leave their staking campaign at any moment, and rewards will be distributed accordingly.
Rubic is a Multi-Chain Swap Protocol that aids in implementation of easy, fast, and secure transactions across blockchains. With the help of Rubic, users do not need to search for different bridges and pay several transaction fees. Rubic unites the 7 most popular or famous blockchains including BSC, Ethereum, Polygon, Fantom, Moonriver, Avalanche, and Solana. Rubic presently supports swaps over 10,500+ assets and provides a simple one-click solution to trade them.
Rubic has been here for approximately a year, and has earned a lot of trust in the Crypto community. Their RBC token or currency is widely utilized for governance, providing liquidity on Multi-Chain, and participating in staking rounds. The APR is about 80%, which is quite encouraging.
The mechanics of profit are easy & simple: 0.5% fee from Multi-Chain volume will be used to buyback and distribute RBC to the reward pool.
Their stake offer from RBC is limited. The maximum deposit amount for a single staking user is 100k RBC, but the maximum depositable amount for the whole campaign itself is 7M RBC in total.
Sometimes it’s hard to join staking because of the extremely high entry threshold. To take part in Rubic Staking, users need to purchase a minimum of only 1,000 $RBC. Just the right amount to start and multiply your assets.