I used to mine Bitcoins and I was a huge believer.
It was kind of fun to mine Bitcoins! and I got a lot of Bitcoins from mining when it was like this ⤵️
I should have "hodl" them but I spent everything to buy more mining power so I didn't make any money and it wasn't profitable obviously.
But now, crypto market is a lot different from what it was back then and we can STAKE coins!
It is kind of like interest on your bank account. You delegate your "mining power" to a "miner" and receive interest from your delegation.
I started staking on Tezos (XTZ) last year and it has been great! A lot better than mining Bitcoin :P
Here is one of my my first rewards from staking Tezos (XTZ).
0.54 XTZ -> $0.69
Crypto market has been strong lately and Tezos (XTZ) is going up a lot.
What does this mean to my Tezos (XTZ) staking rewards???
Reward value is increased a lot!
0.53 XTZ -> $1.17
It took like 35-40 days holding period, but after that I get this reward every 3 days.
I am using Coinbase for staking because it is very easy to use and convenient for me.
But recently they changed the reward % from 5.44% to 5.31% though :(
And you don't have to use Coinbase for staking. There are so many bakers out there with better rewards %.
My Tezos Baker is a good site to find bakers.
Baking Bad is also a good site.
My Tezos Baker has this easy to use reward calculator that you can compare multiple bakers.
Just type in how much you want to stake and pick bakers.
According to this calculator, Binance is a better baker than Coinbase or Kraken.
https://mytezosbaker.com/calculator
This is just one way to find your baker(s), but when you pick your baker(s), you need to consider different factors like capacity, efficiency, fees... etc, not just ROI.
So please do your own research before delegating!
If you are interested in free Tezos ⤵️
