With market capitalization reaching a record $3-trillion last year, crypto investing rocketed closer to mass adoption. Now, more conservative investors are rushing to get involved with Crypto staking and lending, as it rides a multi-billion dollar wave.
Cryptocurrency is a virtual or digital currency. Until 2009, most of the world’s currency was what is referred to as ‘fiat money.’ At one time, currency was tied directly to physical assets, like gold.
Blockchain is the technology that allows Crypto to do all this. To put it simply, blockchain is the database that proves the value of Crypto by maintaining a record of transactions in the cloud, in a decentralized manner, accessible by all and alterable by none.
Staking involves committing your tokens for use by the blockchain. Stakes are necessary for the network’s security infrastructure, and therefore participants are compensated with more of the coin they are staking.
The dangers of crypto lending include loan default, coin volatility, exchange security, and changing crypto regulations.While staking does not have as many regulatory concerns as lending, there is still the risk of volatility.
If you’re interested in crypto lending or staking, you’ll likely want to know some platforms where you can lend and stake. Here are some of them:- Coinbase- Gemini- Binance- KuCoin- Crypto.com- Celsius- Kraken