It's like eating your cake and having it too.
Tezos is a popular proof of stake coin.
If you don't know what proof of stake is, please read my article on it here.
Proof of stake is one of my favourite ways of making risk free money.
Tezos, as I said, is a popular proof of stake coin. Currently in the Trust wallet, this coin gives an annual return of just over 6.2%, higher than Coinbases' 5.2% or so.
Getting 6% risk free every year, compounded to me per day is just one of the many reasons I love this coin.
Here are my other reasons:
- It's price doesn't move too much: This is integral for proof of stake coins. It would really be a bummer for you to have put $1000 in on January the 1st, only for you to return in December to see that you have only $200. I like that Tezos' price doesn't fluctuate by too much, unlike other cryptocurrencies like Bitcoin for example. The price is a reflection of your profit margins, and this lack of large fluctuations is amazing, given that Tezos isn't a stable coin.
- It's blockchain project is amazing: For those of you who didn't know, Tezos is made up of a self evolving blockchain, capable of modifying its own rules when necessary. Its proof of stake feature only makes this particular feature better. This blockchain of course is built upon a decentralised ledger, and users can "vote" on changes to be made to the network. It makes use of smart contracts much like Ethereum, and it is programmed in the efficient OCaml language.
- It's not too expensive: The last thing you'd want for a proof of stake coin is for it to be expensive. Tezos is currently worth somewhere in the neighborhood of $1.5 US, making it quite affordable. And although most people may argue that the USDT is cheaper than Tezos, I'll explain why I still prefer to stake Tezos in my last reason.
- It compounds your interest and pays large interest rates: Most proof of stake coins pay somewhere around 0.5% to 2.5% per annum.(USDT pays 2.5% per annum wherever you can stake it).Tezos on the other hand pays a whopping 6.25% if you stake in the Trust wallet, or a little over 5% if you go the Coinbase way. This number beats some stocks in the stock market, at little to no risk! There's also the fact that Tezos compounds your interest and pays you interest on interest earned. This is amazing as your portfolio, as well as your overall net worth increases everyday.
Those were my reasons! Why do YOU love Tezos? Tell me down below!
Also, please leave a like on this post. It'd make me feel happier!
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