When you lock your digital assets on a crypto exchange and earn more coins for keeping them locked, this is called “staking.” Assets can be locked under different conditions and for different lengths of time. Each platform has different rewards for staking that depend on how long you keep your coins locked.
When compared to crypto mining, crypto staking has many advantages:
- If you just leave your tokens on the exchange, you will get rewards.
- By keeping your assets locked, you help the project and make it run more smoothly.
- Mining requires you to buy expensive tools and pay for electricity, but staking only requires you to keep your assets on an exchange for a certain amount of time.
- Mining requires technical skills, but staking can be done by people who don’t have those skills.
- Staking is environmentally friendly, unlike mining.
- The most important part of staking is choosing a platform and crypto asset that you can trust.
How Many Coins to Bet?
The conditions for staking are very good at the WhiteBIT crypto exchange. It can be done in three easy steps:
- Put the item you want to bet on in your Main Account.
- Choose one of the options.
- Hold your assets on the exchange, and when the staking period is over, you will get interest on them.
- The best crypto coins to stake are USDT, BTC, ETH, EOS, XRP, LTC, and TRX. You can stake these and a lot of other assets on the WhiteBIT exchange.
Most people stake their coins by leaving them on the exchange. It is the easiest way to make money while you sleep. It works like a bank deposit: you leave your coins on the exchange and get interest back.
You can choose an asset, how long it will be locked, and how much you will get. The WhiteBIT Smart Staking programme gives you a number of plans to choose from. You can also use more than one plan at the same time.
You get your rewards added to your account on the last day of the plan. You can choose the plan with USDT, which means 30 percent for 360 days, as an example.