Hodl vs Staking?
Hodl is when you put coins in your wallet and hold them. That means only not to sell them.
For Staking coins it is much better!
Many know that Bitcoin and Dogecoin can be mined. That means in short with a given algorithm predefined coins are created. Unfortunately, this requires an extreme amount of energy.
With Masternode and Staking coins are mined only for the first blocks — mostly around 1000, so with a lot of energy, after that the coin creation process changes to a less energy hungry process — so it is much more environmentally friendly to have and earn Masternodes/Staking coins.
What is that supposed to be with Staking?
I don’t want to bore with technical details here, if you want to read that, please look for the technical explanations. Here I want to keep it simple for new interested people who want to learn about the topic but don’t want to read 20 pages of technical stuff.
So back to the topic:
Staking simply means that you own coins and have a desktop wallet or an app, store the wallets there and the wallet connects online to the network.
With the desktop it just means: You leave the wallet open. If you have set a password, then you have only activated the staking!
The less coin wallets are also online from other users, the more new coins you get.
Yes, only by leaving the wallet open you get more coins.
Here I have an example for you: PX2Ah64Sr5LDx38XXw8z8pVmAZoekYDgiL
I deposited 50 Piggie coins to this address in August 2022, so they are just lying around in my wallet. Nothing else has to be done with them except having the wallet open!
Now we have January 2023, nearly 1/2 year later — what do you think how much piggies I have now in my wallet?
This was in nearly 7 month around 2500 coins more in my pocket.
You can check here on the Blockexplorer all details: (if you want the real proofs for this wallet:) http://126.96.36.199/address/PX2Ah64Sr5LDx38XXw8z8pVmAZoekYDgiL
That is a profit of around 5000%!
Not bad for around 7 month!
I have nothing done with this wallet, only put 50 piggie coins in it and let the wallet open!
Staking on requires to have the wallet open with network connections!
Thats it and you can earn!
In the next steps I will show you all about how to setup!