You can earn money on cryptocurrency using staking. This process is an opportunity to receive passive income by freezing digital assets in a smart contract for a certain time. With the help of staking, users support transactions in the blockchain and thereby receive a reward. But to do this, you need to choose the appropriate exchange that supports the ability to block cryptocurrencies. The best staking platform must meet certain parameters. These nuances need to be studied in detail in order to correctly select the appropriate platform.
Security as a priority parameter
The cryptocurrency platform must comply with all security standards. The site must also provide tools to protect all user information. In addition, it is important to pay attention to the presence of protection against hacker attacks and the option of two-factor authentication.
Reputation
Before choosing a platform, it is important to study user reviews, expert reviews or ratings on specialized web resources. For example, the Coindepo platform is always distinguished by positive opinions of participants. Any reliable brand is characterized by positive feedback.
Support for digital assets
Before registering, it is important for users to study the number of supported cryptocurrencies for which staking should be issued. Some platforms support freezing only individual coins, while other brands provide blocking of all cryptocurrency assets.
Percentage of expected income
Before joining the platform, it is important to study the rates at which profit for freezing is calculated. But it is necessary to remember that the higher the profitability, the greater the risks in annual terms.
Commission fees
Users need to study the amount of commissions that the company charges for staking. A number of exchanges charge additional cash fees for depositing and withdrawing cryptocurrencies. Commissions can also be charged for participating in blocking digital assets.
Coin freezing periods
The asset blocking period is an important parameter for choosing a platform. A number of exchanges freeze coins for a certain period, during which users do not have access to the assets – they cannot withdraw them or use the accrued interest.
Diversification
Users should choose a platform where it is possible to freeze several options of digital assets. This will allow you to expand your earning options and receive a stable passive income during the specified period.
