Hello everybody, Im somewhat new to the cryptocurrency world so this may not be breaking news for most of you but Im certainly happy now that I know this information.Most bank accounts pay you ridiculously low interest rates on your money, and I mean extremely low. Turns out my savings account at my local bank was paying me an annual rate of 0.05%, which is basically nothing, in fact due to inflation my money was most likely losing value.About two months ago I bought some ADA (Cardano), and read up a bit about staking. For those who dont know, staking is basically delegating your ADA to a stake pool, and you earn interest as a result. Your crypto never leaves your wallet, and you can stop staking and move your funds at any time if you want to so it is a safe process. I wont go too deep into details but by staking you can earn between 4-6% every year, and you are paid every epoch (5 days).Im happy to announce that Im currently earning more money every 5 days by staking that my regular bank account makes me in one year. Im not saying Im rich now btw, it is still a small amount but it is still mindblowing to me.Have a nice day people.
Submitted April 26, 2021 at 07:11PM
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