The Algorand Blockchain Enters The Limelight
The last few months have seen Algorand release one staggering accomplishment after another. Though I suspect many would not consider the SOV building their national digital currency using Algorand technology a cause for celebration. Tether also announced that they will be building a version of their stablecoin on the Algorand blockchain.
There are a lot of conspiracy theories regarding Tether that do their rounds on platforms such as Publish0x and others. At the end of the day honest people and dishonest people alike make use of the dollar but that does not affect the decision of the public to make use of the dollar every day. Anyway that is beside the point, let's get back to Algorand.
Secured In The Top 50
With all the recent accomplishments by Algorand they have pretty much secured their position in the Top 50 on Coinmarketcap. Unlike projects like Egretia, who recently blasted into the Top 30 never to be seen again, even in the Top 50. Maintaining a decent position in market cap reflects stability of price. This is very important when staking.
It is pointless staking a coin that yields a great percentage return but the token value is constantly falling. You will find this is a common theme among projects offering amazing staking returns. Algorand also offer a fairly decent staking reward of around 6% to 8% per year! You can keep up to date on the progress of Algorand via their official News page.
The Best Aspect To Staking Algorand!
Unlike staking Tron or other similar coins, Algorand has one pretty impressive advantage. If you wanted to stake Tron, you would have to leave your coins on an exchange such as Binance or Kucoin. To stake Algorand, all you need to do is hold your Algorand in your own Coinomi wallet! Yes, no need to set anything up at all! Simply deposit your Algorand into your own wallet, where you control and have possession of your own private keys. Earnings are directly credited to your main balance.
So if you don't trust exchanges with your coins, this is definitely an avenue to explore. Remember, this is not financial advice and should only be used as informative entertainment.