Unfortunately, the year 2022 was a nasty era for cryptocurrencies, the financial markets, and the overall broad economy. Now, it seems quite simple to find negative narratives based on cryptocurrency through the mainstream media. Many headlines mention Jim Cramer, Peter Schiff, Jamie Dimon, Nouriel Roubini, Warren Buffett, or some other financial superstar every day criticizing the marketplace for some reason.
Due to the bearing market, cryptocurrency is still considered a developing asset class, hence, by being an early adopter in the relative sector, you can reap limitless benefits like appreciation of capital, incorporating a new technology that promises to transform the industry for good, and staking digital assets as a source of passive income.
Staking is a great option that falls under the mining method and is considered one of the reliable passive income solutions in the whole cryptocurrency industry. The concept says that ‘staking cryptocurrency provides a stable income quite a simple tool to access in order to root for the future’. You see, the process to stake is quite simple, yet some ignore giving it a try!
Precisely, you only need an asset in your pocket, securing it in your wallet, and while staking receive profit as a percentage. Of course, the profitability depends on platform-to-platform and cryptocurrency staking has its own benefits. Check out some benefits of crypto staking that will push you to change your mind and stake at least once:
1. Cheap- In the case of PoW, you need to purchase a few expensive pieces of equipment and also pay for electricity, however; PoS asks for only minimal computing power. Therefore, a regular using laptop or any mobile wallet on your smartphone is sufficient for staking.
2. Safe- The mechanism of PoS is quite resilient to 51% attack, while you might require to buy 51% of the assets to take over the network, however; such an attack is economically harmful.
3. Implies asset growth- The figure says that it is best if you stake ample assets to achieve big profits, where you get tons of profit from staking while the value of the particular assets itself is likely to grow together.
4. Simple- To stake you don’t need abundant specific knowledge. To initiate the process, you only need a few assets on the exchange and store them for staking into your wallet. Afterwards, the system holds the responsibility to calculate the reward on its own.
Where the benefits of crypto staking are enormous, you also have a few drawbacks based on conceptual analysis. As the concept highlights, achieving rewards by storing cryptocurrency looks quite easy, however, you cannot always expect significant profits. In a few cases, staking might offer lower rewards than regular block rewards distributed by the network.
On the other hand, the centralization risk is relatively high when the bulk of assets lies in large players’ hands. Moreover, due to some users’ mentality to save assets in their accounts for a long period of time only to maximize possible profits, you deny observing the high risk of a drop in the cryptocurrency turnover alike.
The staking mechanism also consists of the withdrawal of an asset from circulation that tends to block funds in the wallet. Meaning, you can no longer use assets until the end of a particular staking period, stating the funds are illiquid.
DecenPool is Your Only Solution
With an easy staking procedure, real-time data support, analysis features and much more; the DecenPool staking platform provides you with real freedom to manage your decentralized assets. DecenPool Staking provides several options where once you upgrade, the relative stake will be added to the pool following the daily returns initiated yielding automatically after a week.
0.80% BUSD will get credited on a daily basis to your DecenPool wallet and you are free to withdraw the funds in the DecenPool wallet to blockchain compatible wallet [MetaMask/Trust wallet address provided while registration). In fact, you can invite friends/any members using your referral link and if any referred member stakes you get the amount of referral and royalty bonus directly to the withdrawn wallet.
Note that your first package tends to expire after reaching 200% total returns after which you can upgrade to a new package for a more reward structure. This is not done; you have many more options while staking mentioned below. Make sure to read till the end!
Liquid Staking — The platform offers liquid staking of crypto assets supporting the concept of ‘Proof-of-Stake’ technology. You receive at disposal derivatives in a 1:1 ratio to the assets staked, henceforth, you can use the assets to trade or in other exchange operations.
Staking as a Service — DecenPool staking platform offers a flexible, cross-chain staking mechanism for any asset compatible with the blockchain application. The unique mechanism of DecenPool is designed to offer Staking-as-a-Service to several other platforms through smart contract-based decentralized staking.
Yield farming — DecenPool is an easy, simple, safe, and reliable platform to provide holders with a liquidity mining service. The marketplace enables you to earn yields on BUSD assets and other digital assets to help newcomers in cryptocurrency grow ample investments with a single, secure, low-friction service.
As a catalogue, the top crypto predictions going into 2023 shared by a senior research analyst- Tom Dunleavy will give you goosebumps. If you haven’t read the analysis, check out the below-mentioned predictions are expected to occur in 2023 or soon in the coming future.
· First quarter of 2023 seems to be rough and not to get surprised to see $1K ETH and $15K BTC, whereas something in traditional finance is expected to break.
· Decentralized social adoption will influence from 5x to 100K users and on-chain reputation seems to open up undercollateralized lending.
· Liquid staking platforms are predicted to enter a bull market in 2023, as a result; DECEN, Lido and Rocketpool assets might get double in price
· The options market is expected to cross over $100 billion per month.
· Non-fungible tokens will carry on expanding where a minimum of three major companies tend to launch projects. Meanwhile, ticketing, memberships along with in-game assets will show continuous growth.
· Overall crypto adoption will escalate outside of the US and stablecoins are expected to offer a cheaper alternative to send money in comparison to the average 6% cost internationally.
· Web2 developers will switch to Web3, gaining around 100,000 monthly developers due to the token upside, layoffs in big tech, and college graduates getting more crypto-curious.
· Maximal extractable value will get the primary revenue source, particularly for stakers and platforms alike making transaction fees trend to bend zero on protocols.
· DecenPool Staking asset volumes might hit all-time highs and is expected to beat a few emerging projects as more ordinary people tend to get onboarded.
