Grow Your Crypto While You Hold Through Staking

Investors in the cryptocurrency market who want to get a little more bang on their investment can hop on to staking. It is one of the advantageous ways to have your cryptocurrency work for you barring market volatility. Staking is all about locking up your cryptocurrency for a fixed period and plays a crucial role in the network performance and safety of a blockchain network to earn a reward in terms of coins or tokens. You are probably familiar with Polygon (MATIC) which is popular as EVM compatible sidechain and a Layer-2 scaling solution for the second most popular virtual currency Ethereum. Hence, staking MATIC is one of the best ways to see your portfolio grow, and thus we are on the edge to make that easier for you.

This article will explain everything you need to know about staking and take you through the process.

What is Staking?

Crypto has a lot of exciting features and staking is undoubtedly one of them. The key takeaway of staking is it is the way of earning rewards for locking your crypto for a specific period of time. It is available with cryptocurrencies that run on Proof-of-Stake consensus mechanism which is popular as an energy-efficient alternative to Proof-of-Work.

How does staking work?

Staking includes the commitment of crypto assets, verifying transactions in the blockchain, and earning rewards on the holdings. Staking is popular among investors due to its higher APY (annual percentage yield), environmental friendliness compared to crypto mining, and superior security compared to trading.

Crypto staking follows the concept of block validation. If you own crypto assets that run on a proof-of-stake blockchain, then you are all set to start staking. Simply put, it is like maintaining a balance in your savings account and earning interest.

However, the interest rate you receive through staking is substantially higher than that of the bank. Even various blockchain projects have made the staking process simpler, and things have changed for the better. Even staking is one of the most unique ways of earning passive income with lower risks than trading.

Considering the rapid growth in popularity among cryptocurrency holders, Cryptoforce is launching its staking program with Polygon (MATIC). This leading cryptocurrency exchange in India is also focusing on easy accessibility and profitability practices to help its users earn higher rewards.

Cryptoforce now offers MATIC staking.

MATIC, native to the Polygon network, is an ERC-20 token. It is also the primary transactional currency and serves as a staking token for the Proof-of-Stake (PoS) blockchain of Polygon. The Polygon Network is a layer-2 scaling solution that is instrumental in boosting the transaction rate throughout the network and minimizing the transaction fees for Ethereum users and developers.

Polygon is also one of the only available scaling solutions to support the Ethereum Virtual Machine (EVM) and supports DApps built on the Polygon Network with better solidity without compromising security. For this reason, MATIC staking is quite a popular way of earning passive income among all blockchain networks.

Bottom Line

Staking can be an excellent way to support the security and validation of a blockchain and earn a reward in return. Without a doubt, it is not a completely risk-free way of getting into the crypto ecosystem. You can mitigate the risks by choosing the best platform and taking the necessary precautions.

Without a doubt, it is not a completely risk-free way of getting into the crypto ecosystem. However, you can mitigate the risks by choosing the best platform and taking the necessary precautions.

Disclaimer: Cryptocurrencies are highly volatile and subject to market, technical, and regulatory risks. Crypto trading requires one’s own diligence, and Cryptoforce will not be responsible for any losses incurred. Any information provided here should not be regarded as Cryptoforce’s technical or financial advice.