Staking has become the new normal in the cryptocurrency industry, as it provides an opportunity for users to earn from the system without having to put in much work.
For those who are just learning about the staking of digital currencies, let's have a quick rundown of what staking is.
Staking is a process where the holders of a digital currency can seamlessly earn from the asset simply by locking the asset into the system's smart contract, for a stipulated time.
Users who choose to stake their digital assets have the liberty of choosing the lock-in period for their token, and in return they get rewarded with more of the token, or another asset of the system, as the case may be. During staking, the system makes known the RIO (Return Of Investment), letting users know how many percentage of their invested funds they can earn per annum.
It is important to understand that during staking, the higher the staked amount, the higher the earning, and vice versa, whuch means that a participant who staked a higher amount will definitely earn more return than someone with lower stake, at the end of the staking period. Having known all these, let's take a close look at how to stake on one of the most reliable systems called Atomic Wallet.
Staking On Atomic Wallet
Atomic Wallet is a reliable cryptocurrency wallet which has also launched staking feature, to give its users the opportunity of staking varieties of cryptocurrencies on its system. Atomic Wallet staking is designed to be fully decentralized in such a way that the users have the liberty of choosing the coin to stake, without the control of anyone.
Assets That Can Be Staked On Atomic Wallet
Atomic Wallet supports the staking of different cryptocurrencies on its system, so as to allow users diversify their portfolio. Some of the assets that can be staked on Atomic Wallet includes but not limited to:
- ALGO, the native token of the Algorand blockchain, giving every user the ability to earn great returns from their Algo holdings.
The annual RIO for the Algo token staked on Atomic Wallet is about 5.6%, which means that any user who stakes Algo on Atomic Wallet, gets 5.6% of his staked asset as return, at the of the year. To stake Algo on Atomic Wallet, a user has to deposit Algo into the wallet, having in mind that the minimum deposit is 1 Algo, which makes it accessible to all, as anyone can afford to participate.
- ADA, being the recognized token of the Cardano, can also be staked on Atomic Wallet, making sure that those who take part, can benefit from it.
Staking ADA on Atomic Wallet has a Return Of Investment (RIO) of 5% per year, allowing users to earn 50% of their staked asset as staking rewards. The minimum amount of ADA needed to take part in the staking process is just 1, so as to make staking of the token to be within the reach of anyone who wishes to take part.
* ICON called ICX is also supported for staking on Atomic Wallet, with a yearly RIO of 10%, and needs a minimum deposit of 1 ICX to stake.
- XTZ token of the Tezos platform can also be staked on Atomic Wallet, giving an annual RIO of 7%, and requires only a minimum of 1 XZT to take part.
- Users can also stake the AWC token, which belongs to the Atomic Wallet system, and enjoy a RIO of 20 - 23% annually, needing only 10 AWC as minimum deposit to get started.
- BAND needs a minimum of 1 BAND to start staking on Atomic Wallet, where the expected RIO per year is around 17% of the staked asset.
These are just a few of the assets which could be staked on Atomic Wallet to earn rewards, as there are more coins supported for staking on Atomic Wallet.
Why Stake On Atomic Wallet?
1. For starters, users get to enjoy free staking on the Atomic Wallet, as they are not charged any fee for taking part in staking. Another benefit of staking on Atomic Wallet is that the users have the liberty of choosing the amount of asset they wish to stake, as there is no restriction imposed by the system, making it very open for everyone.
2. To ensure that users get the best service from the system while staking, Atomic Wallet has put in place an efficient user support system, which works round the clock, just to ensure that the users are attended to, whenever need be.
3. One of the most intriguing benefits of staking on Atomic Wallet is that the users are allowed to unstake their assets anytime they want, and still enjoy their earned rewards and lots more...
A clear look at these, shows clearly that Atomic Wallet is directed towards creating great benefits to its users. By taking part in the staking through its decentralized staking model, users no longer has to hold an asset, but they can now earn from it, in a more transparent manner and with ease. Visit this website to learn more about staking in AtomicWallet and how it works.