Written by tojukaka
Many people are drawn to the world of cryptocurrency because of the opportunities to earn passive income. The opportunities here are usually open to all and although most of them require little effort to execute, it’s important for the crypto investor to do due diligence before investing. This would greatly mitigate the risk associated with investing.
In the conventional way of investing, investors would scout for undervalued cryptocurrency and buy them with the hope of selling at an opportune time when the price goes up. In staking, investors not only stand the chance of making capital gains but also increase the quantity of their cryptocurrency holdings as they earn more cryptocurrency just by holding.
Staking is used in Proof of Stake blockchains. It has been dubbed as the new form of mining because they both serve the same purpose — the creation of new cryptocurrency tokens through inflation. In mining (seen in POW blockchains), these newly created tokens would be given to miners who spend a lot of computational power and electricity to compete for the new tokens. Staking is more energy conservative and here, newly-created tokens are distributed to token holders based on their stake.
In DPOS blockchains like EOS, BOS, and TRON, the way staking works, is that users keep their funds in a crypto wallet like TokenPocket and then delegate their tokens to staking pools. By doing so, they delegate their voting power and could also earn some rewards. Sometimes the users may be required to perform some simple tasks such as voting or claiming their rewards periodically.
In TokenPocket, users can earn cryptocurrency by simply delegating their cryptocurrency to staking pools like TPools, NewPool, e.t.c. After staking, no other action is required of the users.
Stake your BOS Tokens to TPools and enjoy a 3.89% expected annual yield. TPools is a decentralized staking pool launched by TokenPocket. It requires no transfer and there is no risk of losing your assets.
By staking your BOS, you are also delegating your voting power and as can be seen in this BOS explorer, TokenPocket distributes voting reward to accounts that stake to TPools.
NewPool, a staking pool owned by Newdex.io provides EOS users with the opportunity to enjoy a 3.10% expected annual yield.
Tron users can earn enjoy a 12.37% expected annual Yield when they stake their tokens to NewPool.
When you have additional streams of income that requires little or no effort from you, you’ll have more confidence, freedom and financial capacity to pursue your passion. With staking you enjoy capital gains on your investment, assuming that it appreciates in value, and in addition to that, you earn more tokens.