Staking cryptocurrency is the practice of depositing money into a digital wallet and maintaining it there to facilitate the validation of transactions on proof-of-stake (PoS) blockchains. Customers can then earn additional crypto by engaging in transaction validation.
This can be done with newer cryptocurrencies such as Acrana (ACR), BitDAO (BIT) and Ethereum 2.0 (ETH).
Staking crypto has several advantages, including the following:
- A major advantage over traditional cryptocurrency mining is that crypto staking requires no additional hardware.
- You may be able to earn interest on your cryptocurrency investments.
- In comparison to mining, staking is far more environmentally friendly.
- Staking directly improves PoS blockchains’ efficiency and security.
So which cryptos should you be looking out for?
Ethereum 2.0:
Everybody has heard of Ethereum (ETH), right? Well, Ethereum 2.0 (ETH) will be slightly different as it’ll mean less transaction fees for current and future holders of coin.
The proof-work-mining system will be completely replaced by staking in Ethereum 2.0 (ETH). If miners wish to validate transactions for block rewards and transaction fees, they’ll have to switch to staking. This will make the existing mining system obsolete.
Although Ethereum 2.0 (ETH) has not launched yet, you should follow its expansion.
BitDAO (BIT):
BitDAO (BIT) was established in August 2021 in collaboration with Founders Fund, Bybit, and 30 more participants. Its mission is to invest in and grow the BitDAO ecosystem by investing in promising DeFi businesses.
The DAO has reaped the benefits of its relatively centralised control. The group has already sponsored three significant projects with a unanimous vote of “yes”.
BitDAO is an innovative concept that enables you to take part in the staking process. BitDAO (BIT) token holders can get prizes for securely storing their tokens. While it is not the finest staking cryptocurrency available, the more you stake, the greater your profits. This demonstrates a great deal of promise for the new child on the block. Additionally, you may vote on suggestions and contribute to decision-making regarding the project’s future.
Acrana (ACR):
Last but certainly not least we have Acrana (ACR). This is a new cryptocurrency yet to start its presale or launch on the market.
Acrana (ACR) is DAO governed, like BitDAO, but all choices with Acrana (ACR) will be made by members of the community.
This crypto’s target audience are cryptos who want their token to be back by other cryptocurrencies rather than the US dollar.
Cryptocurrencies that are backed by the USD mean that if the USD depreciates, the token will depreciate as well.
Staking is Acrana’s primary value-creation strategy; hence, stakers can earn rebase incentives by staking their ACR on its platform. There are huge benefits for staking with Acrana (ACR): it’s a simple way to earn income on your crypto, it does not require any special equipment, customers would be doing their part to keep the blockchain safe and effective and it is ultimately more eco-friendly than mining.
In summary
Proof of Stake (PoS) saves money in part by eliminating the need for all those miners who spend their time slogging through energy-intensive arithmetic problems. Instead, because of staking, blockchain transactions are verified by those who are really invested in it.
Although BitDAO (BIT) is already live and presales are over and Ethereum 2.0 (ETH) might be a little daunting to newcomers, there is still a chance with Acrana (ACR) to get in early and reap the benefits for staking.
Presale: https://presale.acrana.io/
Website: https://acrana.io/
Telegram: https://t.me/ACRANAOFFICIAL
Twitter: https://twitter.com/acrana_io
