Cryptocurrencies are pretty great. They provide an opportunity for individuals to take back their wealth from the traditional banking industry. They decentralize control of our world’s economic policies, promote free trade without interference or regulations – the list goes on. The only problem with cryptocurrency is that the volatile fluctuation of a still relatively young asset class can make it hard for businesses to adopt it as a payment method. But don’t worry! Did you know there are ways to offset this volatility by earning yield on your cryptocurrencies?
One way to earn on your cryptocurrency while they add value is staking. UniX is providing the opportunity to stake the UniX token via the unixgaming.org website.
What is Staking?
Crypto staking is the act of holding or locking up your crypto for a certain period to earn interest or earn rewards. The crypto market, as earlier mentioned, is volatile, and crypto staking is one of the best investment moves you can make as a crypto holder. Think of crypto staking as making passive income while you sleep. The logic is simple; you put a timeline to withdraw your crypto, and you gain rewards during this timeline.
The Unix Yield Program introduces the Unix epoch, separated into six (each to run for 30 days), commenced on the 4th of December, and will run for six months. The program allows you to stake your token, and you withdraw at a time of your choosing. In the case of Unix tokens, staking is through the official Unix website, where you connect your wallet.
Note that you only get rewarded for 30 days each, from the time of your staking. Withdrawal before 30 days for each epoch makes you ineligible for your staking reward.
Staking is a way to have your crypto working for you, and this is a significant improvement to the old traditional banking method.
Benefits of Staking UNIX Tokens
In the case of UNIX Tokens, there are 18,000,000 (Eighteen million) tokens available in the newly introduced six epochs available on the UniX platform.
UNIX Token Holders are rewarded with an Annual Percentage Yield (APY) of 28% minimum and a maximum of 2,812% APY on a single stake. It is worthy to note that the APY depends on the number of holders that stake, and the greater the number, the less the APY. Staking tokens hold a more significant investment benefit considering the 28% minimum APY it offers in a year than just leaving them in your wallet. This level of APY is not obtainable at traditional banks that do not even offer up to 1% returns. Given how volatile the crypto market can be, the staking rewards offered are huge and can offset any volatility in the sector.
Staking also has earning potential outside the value of the cryptocurrency investment in question–to learn more about how that works, check out the staking article on the UniX Medium platform!
Staking crypto can pose some difficulties for people new to the industry. Here are a few things to know before making the decision. First, it might not be easy to participate because staking requires you to hold something for an extended period without spending it. This seeming sacrifice may be worth it in return. Still, it would help if you remembered that there is no guarantee that the token you stake will increase in value over time.
Investments that can decrease your risk
Generally, investment is a risky adventure. The more you are willing to put into a project, the more you are ready to lose if everything goes south. In the same vein, when everything goes well with your investment, the higher you put in, the more returns you earn.
However, certain investments are less risky by their nature, and crypto staking is one of them. It is essential to note that it is not all sunshine and roses in the crypto staking world as there is a risk of loss when crypto dips, but you’re guaranteed some level of rewards as opposed to putting your money in the bank to lay dormant.
Last but not least, you should do your research before investing or staking in a cryptocurrency or, in fact, any asset class. Your research should include figuring out if the company/project you are investing in is reliable and reputable. From that point onwards, many people identify as traders or holders. Trading or attempting to time the market perfectly isn’t for everyone nor an easy task. For holders out there or for those looking to offset their trading portfolio, staking offers a perfect alternative in the world of crypto investment. The newly created UniX staking pool provides a safer and less stressful way to reap the rewards of cryptocurrency and precisely the UniX token as the DAO expands and grows over time. The recipe is simple….buy….hold….stake!
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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