You can now stake POS cryptocurrencies with HolyTransaction wallet
For a long time, crypto traders have been engaging in the expensive and power-intensive mining process to make profits. Fortunately, things are now easier with an alternative to crypto mining which does not require lots of energy nor expensive equipment to earn rewards. The option is staking coins which are currently offered by HolyTransaction, a simple, instant, and easy to use multi-crypto wallet that is favorable for non-technical users. It has made earning rewards in cryptocurrencies fast and convenient. The wallet allows users to exchange, make, and receive payments while still managing their portfolio of cryptocurrencies securely and conveniently.
HolyTransaction has recently adopted a staking service which helps leverage on proof-of-stake while still earning financial rewards. As of 1st September 2020, users registered on HolyTransaction Wallet will be able to stake PPC, BLK, GRC, and PIVX. Members with a balance in any of the four cryptocurrencies will receive rewards based on the amount they stake.
HolyTransaction staking is advantageous in the following ways:
- You start earning financial rewards immediately after making the first deposit
- Payouts made after every 24 hours
- It is easy to exit by transferring the amount from the HolyTransaction Wallet.
- You load the HolyTransaction Wallet quickly from your credit card
- HolyTransaction platform is free and uses all web interfaces making it unique from other virtual wallets
Using HolyTransaction Staking Wallet is convenient and flexible as it allows you to trade them on top of staking. It is therefore possible to exchange the rewards earned by either staking or withdrawing for use. It is, however, advisable to hold the amount as a way of increasing the staking amount, which earns more rewards with time.
So how do staking coins work?
Proof-of-work consensus algorithm and proof-of-stake are the main mechanisms used in earning more crypto coins. The proof-of-work mechanism involves the creation of new coins and verifying transactions, but staking consists of choosing who to be rewarded based on the coins staked. When a person is chosen, they can create newer blocks and verify transactions. Staking is an excellent way of rewarding users who have invested large sums of money with the benefit of verifying transactions in a blockchain network. The only problem associated with staking is that coins might lose value while on stake. The user-friendly HolyTransaction wallet is a great way of earning from your deposits and instantly exchanging cryptocurrencies.