There are a lot of people who buy and only HODL your coins and tokens. This post is for those of you that do.
What is staking?
Staking is a mechanic where you lock up your cryptos and generate passive income as you are helping to secure the blockchain through said mechanic. So you don't have to do anything and you can generate passive income through staking. This is just like interest in banks but only with much better APY.
Let's say I have 32 ETH and I am staking them for a 6% APY.
So 32 ETH x 6% = 1.92 ETH
That gives you 1.92 ETH for free by staking every year.
There are many coins that let you stake. BTC doesn't let you stake but you can lend it out to generate some passive income. Generally, the APY for staking is around 5% give or take. Some provide more some provide less. If you are HODLing anyway, why not let your crypto make you more crypto.
That's a win-win.
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