Welcome to StakePark, where web3 and the world comes to learn how to stake!
What is staking? 🤷♂️
Staking is when a crypto holder locks up their coins (like ETH) to help keep the blockchain network operating. Your coins are used in the validation process, help keep it decentralized, and are then rewarded with additional coins or tokens, known as staking rewards, for participating!
We like to think staking as the savings account from the future.
But… why would I want to learn how to stake?
There are several great reasons why you should learn how to stake cryptocurrency:
- Earn passive income: Staking cryptocurrency can be a way to earn passive income, as you can earn rewards for simply holding and staking your coins.
- Support the network: By staking your cryptocurrency, you are helping to support the network and ensure its security. This is critical for proof-of-stake (PoS) cryptocurrencies, which rely on users staking their coins to maintain the network and keep it decentralized.
- Trust no one: Staking your cryptocurrency natively is a safer option than holding cryptocurrency on a centralized exchange, which is more vulnerable to hacking or failure from counter-party risk.