Is Staking still profitable as of TODAY?crypto
Staking is simply the process of purchasing and holding a cryptocurrency in your wallet and earn profits from it. Soon after its introduction, Staking became a popular alternative to cryptocurrency mining and trading. Those looking to earn profits from crypto mining but without the risk or high input cost immediately adopted the staking option.
Before we start discussing more crypto staking and its scope in today’s market, let’s first try to understand what exactly staking is.
Staking, by many experts, has been regarded as one of the easiest ways to make money with cryptocurrencies, and rightly so. By simply buying and holding a particular coin for a specific time period, you can earn money through the way of interest. Staking works on the mechanism of Proof of Stake, where new coin miners are selected based on their existing stake of coins. The more coins you hold, the more new ones you can mine.
However, many crypto enthusiasts also claim that the profits earned from staking are quite low. That said, it is high time that we look into the profit capability of staking and whether it is more profitable as compared to mining.
Is Staking profitable?
In one word, yes.
Staking is nearly as profitable as the mining or trading of cryptocurrencies, and without risk. All you have to do is stake (buy & hold) some coins in order to get added to the mining pool.
As for profits, the actual profits you can make from staking will depend on how much you vest and for how long. The more you stake, the more you can make in profit with staking.
Besides that, there are multiple other things to consider in order to increase your staking profits.
While staking a coin, you must keep a close look at the coin value or price. There is no meaning of staking a coin whose inflation rate (volatility) is very high. Even if you manage to make high staking rewards from such coins, the value will fall rapidly to leave you with small to no profits. This is why it is important to invest in a coin with low volatility.
Here are the things you should be looking for.
Maximum supply: the coin/token must have a fixed supply. This will ensure that the circulation of coins in the market is limited, which will maintain a healthy demand for it, giving a constant boost to the price.
Real-usage: The demand for a cryptocurrency greatly depends on what the coin is used for. If a coin has actual applications, it will have a healthy demand and, therefore, price. For example, Titan coin works as a digital payment solution for sending/receiving global payments. In order to control the inflation rate, the team has also developed a number of apps utilizing titan coin for payments.
To sum up, Staking is, in fact, profitable, but how much profit you can make from it will depend on how well and wisely your stake. There are many PoS cryptocurrencies that you can stake today, including DASH, Titan Coin, EOS.io, Tezos, etc.
For any query or question, feel free to reach the team at the official Telegram channel @ https://t.me/TitanCoinOfficial
