What is Staking on LATOKEN?
Crypto staking is a way of passive earnings, in which users store coins on the Proof of Stake (PoS) algorithm and ensure the blockchain remains operational. It opens them an opportunity to make a profit. LATOKEN Staking allows cryptocurrency traders to get interest on selected cryptocurrencies like bank deposits but with a much higher annual percentage yield.
Staking and Proof of Stake gives the opportunity for anyone to participate in the consensus and governance of blockchains. Moreover, it’s a very easy way to earn passive income by simply holding coins with LATOKEN. The barriers of entry to the blockchain ecosystem are getting lower as staking became much easier now on LATOKEN.
- LATOKEN Staking can be an excellent way to increase your profits and cryptocurrency holdings as there are no fees, and you have over 100 different cryptocurrencies to choose from! On the other hand, there are risks associated with it such as slashing, malicious attacks, and stringent technical requirements. Risks can be mitigated by staking LA token, which is a native LATOKEN coin.
- To start staking, you need to have free funds to buy coins and the ability to freeze them for a consistent period of time on a particular deposit smart contract. Otherwise, staking offers have different designs, including ones with an early unstake option and without it. In order to get rewards, staking should not be unstaked until the expiration date.
- LATOKEN experts highly recommend choosing cryptocurrencies for staking based on your budget and risk aversion.
How to get started with LATOKEN Staking?
Getting started is easy, you must first create an account on LATOKEN, deposit or buy the token you wish to stake before you can conduct your first crypto staking on LATOKEN.
To make your first successful crypto staking, follow the simple steps below:
Step 1: Login to your LATOKEN account and navigate to the Staking > Fixed page. If you do not have an account, click on “Register” and complete all the steps to create your account.
Step 2: Navigate through the different staking options and choose the one that suits you. Click on the ‘Stake’ button.
Step 3: Enter the crypto amount you would like to stake. Make sure to select the staking duration, check the annual rate, the profit you will earn after the period ends, then click on the “Stake” button.
Step 4: After the staking period ends, the amount will be sent to your LATOKEN account (Spot account). If you don’t receive your crypto asset after the period, Reach out to LATOKEN support and an agent from customer support will help you to get your assets immediately.