I have only recently started my journey into staking tokens to earn interest.
Staking cryptocurrency can earn as high as 20% for some of them but they may also come with a risk since we need to know how reliable is the company that we are staking our tokens with.
With the price of cryptocurrency so unstable, staking tokens to earn interest was what I decided to do.
By staking tokens, some paid daily while others may pay us weekly.
We are usually given the same cryptocurrency that we are staking as interest.
I have mentioned in another post that I have just installed Atomic wallet because it was recommended by publishox platform.
publishox allows me to earn a bit of cryptocurrencies when I read articles and Atomic wallet was the recommended wallet to receive the payout.
I started my journey in staking cryptocurrency after installing Atomic wallet.
Since the price of cryptocurrency is quite unpredictable at the exchange market, staking allows us to earn a constant extra token as interest.
With the constant tokens that I am earning, my personal risk actually reduces since the amount of tokens that I am staking would stay the same regardless of the rise or fall in price.
I can hodl those tokens that I earn from interest and sell them when the price is good even if it takes months or years.
It may just be a nice long-term investment with a possible stable profit without losing a single cent.
I cannot deny that I was affected by the price of Bitcoin that could change within minutes so staking could remove some of my mental stress.
When I first installed Atomic wallet, it offered 10 free AWC tokens for my first exchange using the wallet but I notice that it has reduced to 5 free AWC tokens recently.
I can gain an interest of 17% for staking AWC tokens since I have less than 1000 AVC tokens. Those with more than 1000 AWC tokens can earn an interest of 20%.
AWC tokens were only worth $0.019095 on 1st March 2019 but it has grown to a price of $1.11 at the point of this post.
This is quite a nice growth. On 18 June 2020, it was only worth about $0.64. With the price of $1.11, it had grown almost double.
I had seen videoclip on youtube about the profit of staking AWC but I did not embark into it since I am not very adventurous.
Every investment may have certain degree of risk but I am giving this staking a try.
I have diverted most of my cryptocurrencies into staking at this current moment.
Feel free to share your own experience of staking if you like to comment since I am really new in it.
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth.