I used to mine Bitcoins and I was a huge believer.
It was kind of fun to mine Bitcoins and I got a lot of Bitcoins from mining when it was like this ⤵️
I should have "hodl" them but I spent everything to buy more mining power.
So I didn't make any money and it wasn't profitable obviously.
But now, crypto market is a lot different from what it was back then and we can STAKE on coins!
Staking is kind of like delegating your "mining power" to a "miner" and receiving interest from your delegation.
The good thing about staking is that you are not buying "mining power" or spending your coins for staking.
You don't need a special equipment or expensive machine to stake. You just need a Tezos wallet.
If you want to stop, you can stop anytime and your coins are still all yours.
I started staking on Tezos (XTZ) last year and it has been great!
A lot better than mining Bitcoin :)
Here is one of my first rewards from staking Tezos (XTZ) last month. 0.54 XTZ -> $0.69
Crypto market has been very strong lately and Tezos (XTZ) is going up a lot.
So that the same staking rewards have increased overall value this month. 0.53 XTZ -> $1.17
It took 35-40 days to receive my first reward because of the holding period, but after that I receive a reward every 3 days.
I am using Coinbase for staking because it is very easy and convenient for me and current reward % is 5.31% (down from 5.44%)
But there are so many bakers out there with better reward % and Coinbase is not the only option.
You can pick and choose any bakers you like.
These are good sites to find bakers.
MyTezosBaker has this easy to use reward calculator that you can compare different bakers.
Just type in how much you want to stake and pick bakers.
According to this calculator, Binance will give you more rewards than Coinbase or Kraken.
This is just one way to find your baker(s), but when you pick your baker(s), you need to consider different factors like capacity, efficiency, fees... etc.
Most importantly, do they actually pay out and accurately?
So it's not just ROI.
So please do your own research before delegating!
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