[Updated 10.2023]
What is staking?
Staking is the process of locking up your digital assets in a digital wallet (for EDCOIN, it is the MASTER EDCOIN WALLET @ ME WALLET) or staking pool to help secure a blockchain network and/or support the ecosystem and earn rewards.
Whilst staking can be risky with risky projects, staking can be worthwhile with genuine projects that focus on building utility for its digital assets.
The EDCOIN FOUNDATION continues to #BUIDL the EDCOIN ecosystem globally.
Why is staking worthwhile in a volatile crypto market?
Staking can be a worthwhile way to grow the quantity of your digital assets, even in a volatile market.
When you stake your tokens, you are essentially locking them up for a period of time, which can help to reduce your risk of selling them at a loss.
Additionally, staking can help to support either the security and stability of the blockchain network and/or the digital asset's ecosystem.
Here are some of the benefits of staking in a volatile crypto market:
- Earn passive income: Staking allows you to earn a steady stream of passive income on your digital assets, regardless of market conditions.
- Reduce risk: Staking can help to reduce your risk of selling your tokens at a loss by locking them up for a period of time.
- Support the ecosystem: Staking helps to support the security and stability of the ecosystem.
Conclusion
Staking can be a worthwhile way to grow the quantity of your digital assets, even in a volatile market.
By staking your digital assets, you are helping to support the ecosystem and earn rewards in return.
You can increase the quantity of your digital assets at the end of the staking plan(s) you have participated in. In effect, you are making time do the hard work for you to grow your digital assets portfolio.