Staking cryptocurrency involves holding and locking up a certain amount of it in a wallet to support the underlying PoS blockchain network and earn rewards. It's an eco-friendly and energy-efficient way to validate transactions and secure the network, unlike traditional mining. Users make their crypto available to the network to perform transactions and receive rewards in return. Typically, users choose a validator, delegate funds, and earn a share of block rewards for validating transactions on the network. This encourages users to hold onto their cryptocurrency and earn passive income through staking.
This is a well-known formula for generating profits in the cryptocurrency industry. However, is this still relevant in today’s conditions? And if yes, which platform one may consider for staking and cryptocurrency trading if security and transparency are top priorities? Let’s find this out!
Staking Coins With UGM Crypto
https://ugmcrypto.com/staking-info is an innovative exchange that enables arbitrage trading and automated trading with the help of a cutting-edge bot. However, today, let’s take a deeper look at the staking conditions imposed by the cryptocurrency exchange.
UGMCRYPTO's staking blockchain utilizes its own utility token, UGM, which is powered by the Binance Smart Chain network. Commissions from transactions within the platform are paid with UGM, and users can use their cryptocurrency staking rewards to pay fees instead of buying more coins. 95% of UGM coins are locked in a staking pool and accrue daily. While the staking process is similar to other platforms, UGMCRYPTO offers unique features that differentiate it from others.
Unlike many other staking sites and services that offer only daily returns, UGMCRYPTO offers two sources of passive income for UGM holders who stake their coins. The first source is a daily percentage of the coin balance in the pool, while the second source is the percentage for staking coins in the pool. This percentage may vary depending on the staking period and initial UGM balance.
The staking process involves grouping coins into different tiers, with higher levels offering greater rewards. The level of reward also depends on the length of time that tokens are locked. On this particular blockchain, the minimum and maximum lock-up periods are 30 and 360 days respectively. By staking for 360 days, users can earn a maximum reward of 78%.
UGMCRYPTO has developed a highly convenient staking calculator for its users. It is an essential tool that helps users to estimate their potential returns on staking their digital assets for a specific period. The calculator calculates the percentage of rewards based on the number of coins staked, the duration of the stake, and the rank of the stakeholder. With this tool, users can easily and effectively manage their digital assets, and make informed decisions about how to allocate their funds for staking. This makes staking on the UGMCRYPTO platform an intuitive and hassle-free process for all levels of experience.
