If you are in crypto for the long run, please don't forget to STAKE your cryptos!

All my friends who are in crypto have not been staking and their reason is they didn't know. I know most of you may know it already but to those who don't, I am about to tell you the importance of staking.

Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.

If I am speaking to 5 years old I would say the following. When you stake your cryptos, you usually get to choose how long you are staking it (15 days, 30 days, 60 days, 90 days) the APY for all of them are different. Let's use ADA as an example. You get around 5% - 8% APY staking ADA on Binance, so if you have 1000 ADAs and you hold them for a year you will get 50 - 80 (5% 8% APY) ADAs for just staking it. That is some nice passive income.

Staking can make a huge difference if you HOLD long term. So dont forget to stake.

P.S. Remember to understand the lockup period and the risk that comes along with staking. If cryptos go up/down you are in a forced hold position. So if you are day trading this might not be something you would want to be involved with. However, if you are in it for the long run, the legendary HODLer so to say, then staking is the way to go!