Soft Staking: Hold And Earn Flexibly
The post Soft Staking: Hold And Earn Flexibly appeared on BitcoinEthereumNews.com. In the ever-evolving world of cryptocurrencies, staking is of paramount importance when it comes to earning rewards. Staking literally means “risking” one’s capital for some gain in the future. In crypto finance, the term implies locking one’s digital assets on a PoS (proof of stake) blockchain like Ethereum, Cardano, Solana, etc. for a fixed time to earn some passive income. When you stake, you keep your crypto as a collateral, a guarantee, on the blockchain, so that the network can trust you to unlock new blocks. In contrast to PoW (proof of work) system of Bitcoin, the PoS system is far more energy friendly: it is sometimes called “Green Blockchain.” What is Soft Staking? Soft Staking is a new concept introduced by a few centralized exchanges, notably Binance, to eliminate the risks out of staking. On the basis of being completely risk-free, this new type of staking is also referred to as flexible staking. You can earn passive rewards on your spot holding, and yet you can trade and withdraw the specific cryptocurrency at any time you desire. How Soft Staking Works The exchanges claim that the rewards are generated through the on-chain proof of stake mechanism and then distributed in the respective native tokens to the holders on daily basis. The calculation of rewards takes place in an automated manner, usually by taking screenshots of the specific holdings into the account. Different exchanges have different criteria for rewarding the holders. Generally, an exchange offers soft staking on its native token, in addition to other notable digital currencies on PoS blockchain. Binance currently offers soft staking on $BNB, $SOL, $ADA, $SUI, $TON, $S, $POL, $ALGO, $NEAR, and $AXS. Requirement to Participate in Soft Staking Not everyone can earn on the offered digital assets. You can qualify for the soft staking…
The post Soft Staking: Hold And Earn Flexibly appeared on BitcoinEthereumNews.com.
In the ever-evolving world of cryptocurrencies, staking is of paramount importance when it comes to earning rewards. Staking literally means “risking” one’s capital for some gain in the future. In crypto finance, the term implies locking one’s digital assets on a PoS (proof of stake) blockchain like Ethereum, Cardano, Solana, etc. for a fixed time to earn some passive income. When you stake, you keep your crypto as a collateral, a guarantee, on the blockchain, so that the network can trust you to unlock new blocks. In contrast to PoW (proof of work) system of Bitcoin, the PoS system is far more energy friendly: it is sometimes called “Green Blockchain.” What is Soft Staking? Soft Staking is a new concept introduced by a few centralized exchanges, notably Binance, to eliminate the risks out of staking. On the basis of being completely risk-free, this new type of staking is also referred to as flexible staking. You can earn passive rewards on your spot holding, and yet you can trade and withdraw the specific cryptocurrency at any time you desire. How Soft Staking Works The exchanges claim that the rewards are generated through the on-chain proof of stake mechanism and then distributed in the respective native tokens to the holders on daily basis. The calculation of rewards takes place in an automated manner, usually by taking screenshots of the specific holdings into the account. Different exchanges have different criteria for rewarding the holders. Generally, an exchange offers soft staking on its native token, in addition to other notable digital currencies on PoS blockchain. Binance currently offers soft staking on $BNB, $SOL, $ADA, $SUI, $TON, $S, $POL, $ALGO, $NEAR, and $AXS. Requirement to Participate in Soft Staking Not everyone can earn on the offered digital assets. You can qualify for the soft staking…
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