Staking offers crypto investors a chance to generate decent passive income while taking considerably less risk compared to direct crypto trading. Essentially, staking involves placing crypto assets in locked digital wallets for the purpose of validating transactions in Proof-of-Stake blockchains. It’s the reverse of crypto mining, and here’s why you should take a serious look at it.
You don’t need to invest in expensive computer hardware to complete the staking. Only a few crypto assets are needed.
Staking offers interest on all staked assets of up to 20% per year across multiple blockchains.
Moreover, once the assets are staked, you simply earn passive income alongside.
Well, if you are considering adding crypto staking as part of your overall investment strategy, there are some coins you need to consider. Here they are:
BitDao (BIT) is one of the world’s leading decentralized autonomous organizations (DAOs). The platform is designed to attract talented developers to build and deploy innovative DAOs across various chains. BIT is the native governance token on the platform that can also be wagered for great returns.
Data source: Tradingview.com
In fact, BIT staking offers an average annual return of around 14.77%. In addition, the token is a very promising coin supported by superb underlying fundamentals. At the time of writing. BIT was trading at $ 2.17 with a market cap of around $ 1.2 billion.
Terra (LUNA) is a stable coin network designed to provide what it calls a global stable price payment system. Terra is one of the biggest blockchain projects right now.
Its native LUNA governance token, which is also used for staking, has a market cap of $ 33 billion. This ranks it among the top 10 crypto assets by market cap. Additionally, LUNA staking will provide investors with average annual returns of around 12.5%.