A bit about Staking
What is staking and how can you benefit?
Some cryptocurrencies, including Bitcoin, rely on Proof of Work (PoW), or mining algorithms to generate new coins and secure the network. However, many newer cryptocurrencies use Proof of Stake (PoS) algorithms to do this instead. The advantage of investing in Proof of Stake coins, including Stratis, is that you don't have to deal with the specialized equipment and massive electricity expenses associated with mining. Instead, you can earn passive income simply by holding your investment in a staking wallet. Staking involves the purchase of PoS cryptocoins and holding them in a staking wallet. This is similar to a fixed deposit in the non-digital currency sphere. Like a fixed deposit which rewards you with a defined interest rate, staking also rewards you with additional coins as a reward for supporting the network. Therefore, the amount in your wallet will grow depending on how much you invest and how long you hold the coins in your staking wallet.