Staking

Staking is a trading mechanism in the cryptocurrency market that empowers traders to earn rewards without selling their cryptocurrency assets, using the proof-of-stake (PoS) consensus mechanism. Traders need to validate the addition of new blocks in blockchain networks. PoS is the key consensus mechanism used in staking, but several blockchain networks also employ the Delegated Proof-of-Stake mechanism.

Traders can benefit greatly through multiple types of staking, including delegated staking, staking pools, direct staking, liquid staking, and exchange staking. Staking offers variouy benefits in the cryptocurrency market, as it provides compounding opportunities for traders, yields rewards, and contributes to blockchain stability. Ethereum, Polkadot, Avalanche, cosmos, and BNB Chain are some famous cryptocurrencies worth staking.