How can you store cryptocurrency assets in the most profitable way?
Staking has emerged as a popular trend for those looking to maximize the storage of their cryptocurrency assets profitably. Staking involves locking tokens on a staking platform to support the blockchain network, generate new blocks, and process transactions. In return, token owners receive rewards, making staking a cryptocurrency equivalent to a bank deposit.
Staking is ideal for those who already store cryptocurrency assets in a wallet or on an exchange and wish to earn additional passive income from their tokens.
Today, we’ll introduce you to token staking in the Cosmos ecosystem. Projects within this ecosystem often distribute tokens specifically for staking their own ecosystem tokens. For example, staking $ATOM could have earned you $4000 in Celestia tokens, and Celestia stakers continue to regularly receive drops.
In addition to high chances of receiving drops, another advantage of staking Cosmos tokens includes a high Annual Percentage Rate (APR) averaging between 14%-20%, the ability to stake all tokens directly from a single wallet, a transparent system for real-time interest accrual, and low network fees.
Here’s how you can get started:
- Stake directly in the Keplr wallet. Download it here.
- Go to the “Staked” section.
- Click on “Stake with Keplr Dashboard.”
- Choose a token and a validator.
When choosing validators:
- Opt for those not in the top 10 to avoid centralization.
- Avoid staking to centralized exchanges.
- Avoid validators with 0% or 100% commission; a commission of 5-7% is typical.
To enhance your chances of receiving a drop, consider staking the following amounts:
- $ATOM – 50 tokens
- $DYM – 50 tokens
- $TIA – 50 tokens
- $INJ – 20 tokens
- $OSMO – 250 tokens
The more tokens you stake, the higher your chances and the potential size of the drop. If you can’t afford these amounts now, regular investments of small sums that grow through interest accrual and potential drops, as well as the rise in token price, can significantly increase your holdings over time.
Moreover, these tokens are performing well in the current bullish cycle and have good growth potential. For instance, the main ecosystem token $ATOM is currently trading at 25% of its all-time high, suggesting significant potential for asset value increase.
