The crypto market is in an upward frenzy right now, a phenomenon caused by the Christmas season and impending news of a bull run. Essentially this means that for you to earn, you must have a grounded knowledge of the crypto space and should be able to spot a position for you to get into the market but this comes with significant risks because your financial decision could turn you to a pauper overnight if you made the wrong money move.

Now, the crypto space has made available a variety of ways you can earn safely without having to join the normal trading process…

Take the Normal Savings feature from your traditional institutions which allows you to passively earn interest on your money without having to do anything, the crypto space now has that feature in the form of staking…. And you might ask, what is so special about this???

Staking and Earning…….

Staking is just a feature of the blockchain space where you earn by contributing passively to the security and operation of a blockchain network. What does this mean?? It means you earn interest on your crypto holdings by contributing it for use by the blockchain network to perform various tasks such as validating asset transactions and the like.

Does this mean you lose your tokens??

No it doesn't, it's just locked up for a certain amount of time in a designated wallet or an exchange platform and when the time is over, you receive both your original assets and your interest…

I could bore you with the specific details on how the staking option works but i’ll just do a brief summary.

There's a Staking model where users contribute their tokens and in turn become network validators. They are then able to contribute actively to the blockchain network by validating assets, transactions and other certain tasks, in turn they are rewarded with newly minted cryptocurrency for their contributions.

There's a second model where users contribute their assets to a certain already existing validator who then proceeds to do the 1st procedure and earn newly minted crypto as a reward, but it then shares this reward with all the contributors staking with the said validator system.

What do I mean??

I would be explaining this with an example and talking briefly about one of the active stalking validator platforms existing…. So take for instance, we have the traditional banks and their saving feature but we know that their interest rate is usually flat out not attractive, then we have the societies and unions that do a daily contribution with a more pronounced interest rate, that's exactly how the above works. You stake with me, I do business with the banks and then I share the profits with you and it's a win-win.

One of the reasons why the second staking model is the most popular is due to its relaxed view on staking capital meaning you can stake any amount of crypto no matter how low and earn interest on it.

But we know as the saying goes, you risk small, you don't win big 😁😁

SOLANA X STEP VALIDATOR

The Solana blockchain is known for its high transaction speeds and scalability but it uses the DELEGATED PROOF-OF-STAKE(DPoS) consensus mechanism (this is the second staking model from above….) which allows all levels of users to participate in network security by delegating their SOL tokens to validator systems and one of the most popular options on the solana blockchain is the STEP FINANCE VALIDATOR.

The Step Finance validator offers a user-friendly interface, attractive commission rates and multiple reward options for staking with their service, thus making it a very attractive validator choice. With their system, asides the normal staking interest you get, when you stake SOL tokens with them, you have the chance to get a part of what they call the ‘Reward Options’ which is basically a kinda free gift given to all who contribute to the network by staking with them.

Why the STEP VALIDATOR and what are the benefits of staking

The STEP Finance Validator offers you an attractive earning range of 7-10% with an option for you to earn up to 20% when you stake with their native token $STEP.

Compared to the other staking validators which only offer about 4-6.7% interest (which is as high as they can go…) the STEP Finance validator is your best bet…..

What do you gain from staking:

You earn passive Income on your crypto holdings without having to worry if its a bull or a bear market
Your assets are secured on all levels when you stake your holdings with a verified validator like the STEP Finance validator
Accessibility to newbies and users with a low portfolio and with this you can earn on your crypto no matter how small it is..

There are also significant risks of the token price volatility affecting your portfolio, but we know how the saying goes, no risk no reward right 😁😁

If you have any questions on how to move on with the above topic, kindly put them in the comment section and you would surely be attended to…

Till we meet again, don’t forget to give this article an upvote before you leave…. CIAO!