How to set up a cryptomonnaie?

For "staker" a cryptocurrency, you have three main choices: delegate the task to a platform;Use the dedicated wallet of this cryptocurrency;Put a stake box to use.However, the first step is to choose one or more cryptocurrencies that we will wish to immobilize over a period that can usually go up to a year.

Choose one or more cryptocurrencies

It may be good to choose the cryptocurrency (s) for which you wish to establish this type of placement. The Stoking Rewards site is a good starting point: it displays more than 260 currencies that may be used for stuking. The Rewards column (reward) indicates what annual return for a given currency. Even if it could be tempting, it is not advisable to choose a cryptocurrency to stike on the only criterion that it pays a big interest, and especially if you have any doubts about its longevity. It is more prudent to invest in a cryptocurrency having a strong capitalization (see the column Market Cap of Staking Rewards in the illustration below) and which seems to have a real future. On specialized forums of Discord, Telegram or Signal, or on Twitter, you can identify projects supported by experts in the field. In case of doubt, you can start with stablecoins as the USDT or the DAI, either crypto whose value is backed by a traditional currency such as the dollar. Whatever happens, you will ultimately collect the dollar amount you have placed, with the interest accumulated during the immobilization period of this amount.

A word of advice: do not put all your eggs in the same basket.It is preferable, if you can, distribute your investment over several different cryptocurrencies.In this way, you can better judge the performance of each, and above all maximize your chances.

Delegate the task to a platform

Delegating Staking to a platform (or Exchange) such as Kraken, Binance, Crypto.com or Coinbase is the simplest form.By force of things, an Exchange will take a commission on the Staking operation and therefore, the return will be lower than if you go through a wallet (portfolio).In addition, stuking can differ from one exchange to another.For example, in the fall of 2021 on a currency such as Algo, the award offered over the year was more than 8 % on Binance and around 4.5 % on Coinbase.Also be aware that on some exchanges, the yield will be more interesting depending on the stake volume for a given cryptive.

On Binance, Staking is accessible from the Binance Earn menu.It is good to know that in this exchange, a Stakée currency is designated as fixed (fixed) as opposed to flexible.If you choose a flexible fashion placement, you can remove your assets at any time, but the proposed performance is much lower.

As you can see if you follow your investments closely, dividends are usually paid every day.Otherwise, APY mode (compound income) must be activated.

Staker the cryptocurrency on a wallet

Usually, each cryptocurrency has its native wallet, or even can be connected to one or more wallets.You can use this wallet to do stuking.The award is higher on a Wallet of the DEFI (decentralized finance) than on an Exchange like Coinbase or Kraken due to the absence of intermediary.

Staking is generally carried out from an ad hoc website which establishes the relationship with the Wallet - for example, the Pancakeswap site connected to the Wallet Metamask makes the Cake currency.

Wallets such as Atomic Wallet or Trust Wallet are often recommended for Staking, because they make this operation very easy, on various cryptocurrencies.

Take advantage of a stake box

The third solution may consist in becoming a "validator" of a currency based on the principle of the "proof of stake", a simpler approach than the mining of original currencies such as Bitcoin - the details appear in the definition of the term staking.This approach has its limitations: the number of validators is generally very limited.And it is usually necessary to store a minimum of tokens to have a chance to become a validator.

You can use your computer to operate validation but it is often impractical.However, there are stakes either dedicated small boxes built by Raspberry and which are dedicated to the validation of certain cryptocurrencies.These are very young currencies and there is therefore a part of bet in such an approach.