HOW TO MAKE MONEY FROM CRYPTOCURRENCIES BY STAKING YOUR COINS

Bitcoins and other cryptocurrencies have opened another opportunity for people who have open mind to learn to make wealth. However, this comes with risk that one may lose all their money to market volatilities as well as fraudsters/scammers.

One of the ways you can make money from cryptocurrencies by taking little risk is coin staking. Coin staking is the process of depositing your coins on a reputable cryptocurrency exchange and allowing the exchange to use your coin to aid the operations of blockchain network. The using of coins to support the operations of a particular coin blockchain network is called Proof of Stake (PoS).

 STAKING ON BINANCE EXCHANGE

 Binance is the largest cryptocurrency exchange in the World. It has offered staking opportunities  for some select cryptocurrencies such as Binance Coin(BNB), Bitcoin (BTC) and EOS.

With Binance exchange staking, you can earn a decent crypto income at average annual return on investment of 12% per annum. This is not a get rich quick scheme as I do not support that.

To stake your coins on binance exchange and earn decent income on your coins, you must open an account with Binance using their mobile app which can be found on Appstore and playstore. After registration, make sure you do KYC(Know your Customer) to enable you use your Nigeria Bank account to deposit Naira on the exchange and use same to buy cryptocurrencies.

Build Portfolio

Please note that ALL investments are risky, and you could lose your money. So, make sure you do not put all your eggs in one basket. Spread your money across different investments. Do not invest ALL your money in coin staking. Although I trust Binance and I know they will continue to operate to a foreseeable future, there is always risk that the exchange could fail. May be you could invest only 10% or 20% of your money in coin staking on Binance while you invest some in Nigeria mutual funds’ investments.

My strongest advice is: Do not invest ALL your money in one investment no matter how promising it may seem.

Stay Blessed! Stay Safe!