Crypto-enthusiasts often search for new ways to earn passive income with their assets. Staking is a popular way to earn passive income that doesn’t require technical knowledge. Still, many exchanges have limited token staking options. Alternatively, LATOKEN supports over 50 cryptocurrencies, making it an ideal solution for staking digital assets.
How Does Staking Work?
Some cryptocurrencies use a proof-of-work model to verify transactions. Proof-of-work is inherently complex and energy-intensive. Newer cryptocurrencies use a proof-of-stake (PoS) model to verify transactions. PoS cryptocurrencies allow users to commit a portion of their holdings to ensure the asset’s blockchain works appropriately.
When a user stakes their tokens, they essentially freeze a portion of their balance to verify other users’ transactions on the blockchain. As a reward for staking their tokens, holders regularly receive newly-minted tokens or tokens collected from transaction fees. Holders’ still own their staked tokens and can remove them from the staking pool when the staking period is complete.
Annual earnings on staking pools are significantly higher than traditional bank accounts, making them attractive to many crypto-investors. Because the proof-of-stake model doesn’t require powerful computers and mining rigs to operate, it is particularly appealing to environmentally conscious investors.
Although staking is generally less risky than mining, you can still lose money if your coins are locked in a staking pool and the price decreases significantly. For this reason, you should never stake more cryptocurrency than you can afford to lose.
Which Tokens Does LATOKEN Support?
LATOKEN supports token-staking for over 50 different cryptocurrencies, some of which have an annual rate of over 200%. One of the most popular cryptocurrencies available for staking is Tezos, a community-governed cryptocurrency. The current annual return for staking Tezos is around 5.4%
The exchange is known for adapting to the emerging cryptocurrency landscape by supporting new tokens like CONJ, PRZ, and STORY. Many of the staking pools for these newer cryptocurrencies have annual returns that exceed 100%. Because LATOKEN consistently adds new digital assets for staking, it can be a great way to learn about emerging cryptocurrencies.
What Makes LATOKEN Staking Stand Out?
The LATOKEN exchange is a rapidly-growing platform with over 1,500,000 registered traders. The popular exchange’s Android app has over 1mln installs. They add new trading pairs every week and regularly provide users with new token-staking opportunities. Additionally, the platform allows users to stake their native token, LA, for around a 7% annual return.
Users can adjust the timing and profitability of rates to maximize their earnings. Many of the platform’s staking pools allow users to unstake their tokens at any time and claim their rewards. The Auto prolongation feature is another exciting aspect of the platform, as it enables users to set up an automatic process for reinvesting their earnings in the same share.