Mining is a good way to introduce new coins into the existing circulating supply and is one of the key elements of earning crypto. But it is a considerably resource-hungry process, so if you want to gain crypto without powerful computing machinery, staking is a very reasonable alternative!
What’s Staking?
Crypto staking means “locking up” some part of your crypto assets for a period of time as an option of contributing to a blockchain network. In return, stakers can claim rewards, usually in the form of additional coins or various tokens.
How does Staking Work?
Probably you are wondering how you can get crypto rewards just by locking your assets? This process can be carried out due to the blockchain putting your crypto to “work”.
A “consensus mechanism”, called Proof of Stake, uses your locked coins in a random way to add the latest batch of transactions to the blockchain and earn some crypto in exchange. The chance of being chosen is proportional to the number of locked coins — the more coins are staked, the higher the chances are.
How to Stake on Borabora DEX?
When you do not want to lose your principal and experience cryptocurrency trading, staking on the Borabora platform is an excellent alternative. You can stake your USDT on Borabora DEX, get USDB, experience lossless trading and earn valuable rewards.
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