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Staking definition or What is staking

Staking definition or What is staking?​

What does staking mean, what is this word used for?

On this blog the word staking refers to the staking of crypto currencies.

When you have money in crypto currencies on a crypto trading platform (Binance for example), some of them allow you to stake your money or better say the crypto currencies you have on your account.

What staking does, is lock a certain amount of your crypto assets for the crypto trading platform to use (you decide the amount).

What is in it for you?

It is like when you lock your money at the bank and they pay you 1-2% yearly interests.

The difference with staking on the crypto trading platforms is that there are various options for staking and the interest varies from 0.5% up to even more then 40% interest rate on some of the crypto coins.

Which is the better option, huh?


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Useful Links:

LFM Dictionary
LFM Crypto Chart

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