Staking Crypto Exchange Platform

MultiBank io is a Crypto Exchange Platform that allows online trading of different cryptocurrencies. Within MultiBank io, users can buy or sell cryptocurrencies and exchange them between other cryptocurrencies or fiat money.

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Staking Crypto Exchange Platform

What Is Crypto Staking?

Like most things in the crypto world, cryptocurrency staking can be a complex topic, or an easy one, depending on the level of understanding you wish to unlock. Most crypto enthusiasts understand that staking is a way of earning rewards for holding certain cryptocurrencies long term. But even if you’re just looking to understand the very basics of staking cryptocurrency, it’s useful to understand a little bit about how and why it works.

If a cryptocurrency you hold allows staking, you can “stake” some of your holdings and earn a percentage-rate reward over time. This often takes place via a “staking pool” can be similarly compared to an interest-bearing savings account. 
The reason your crypto earns rewards whilst staked is because the blockchain puts it to work. Cryptocurrencies that allow staking use a “consensus mechanism” called Proof of Stake, which is the way they ensure that all transactions are verified and secured without a bank or payment processor in the middle. Your crypto, if you choose to stake it, becomes part of that process.

How does staking work?

Staking crypto is part of the process that certain cryptocurrencies use to verify transactions. It's all part and parcel of a consensus mechanism called “Proof of Stake” - consensus mechanism for processing transactions and creating new blocks in a blockchain. In the proof-of-stake system, validators process transactions and create new blocks of a blockchain just as miners do in a proof-of-work system. 

The difference is that to gain the right to create a block, instead of racing to be the first to complete complex mathematical problems like miners do in the proof-of stake system, nodes (computers that participate in building the blockchain) do so by setting aside (or staking) a certain amount of their holdings. 

A validator is then semi-randomly chosen for each block from all those who have staked a minimum number of coins. After that, this validator creates the block and other validators validate it. The validator gets a reward for creating the new block in the form of the native coin of the blockchain.

What are the advantages of staking?

Long term crypto investors view staking crypto coins as a means of making their assets work for them through generating rewards, rather than collecting dust in their crypto wallets.

Staking coins also has the added benefit of contributing to the security of your supported blockchain projects. By staking tokens, this makes the blockchain more resistant to attacks and strengthens its ability to process transactions. 

How Can I start staking?

Staking is open to anyone who wants to take part. But with that said, becoming a full validator requires a significant minimum investment. ETH2, for example, requires a minimum of 32 ETH to take part. In addition to financial investment, technical knowledge and a dedicated computer that can perform validations day or night are also essential components.
That said, there is a simpler way for the vast majority of people to participate. Via a crypto staking platform, you can contribute staking amounts you can afford to a staking pool. This reduces the barrier to entry and allows investors to earn staking rewards without having to operate their own validator hardware. For example, MBG Coin, the native token of MultiBank Group will be available for staking through its own cryptocurrency platform, MultiBank io.

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