• Crypto staking is a popular way to earn passively by holding digital assets for a specific period of time.
• LYOTRADE offers an integrated staking service called LYO Earn, which allows users to stake their assets for various lock periods and receive rewards.
• The annual returns from LYO Earn can reach up to 36%, with lock-up periods ranging from one to two years.
What is Crypto Staking?
Crypto staking is a popular way to earn passive income by holding digital assets in a dedicated wallet for a predetermined period of time. This process supports the functioning of blockchain networks and rewards users with additional cryptocurrency. To maximize their chances of earning rewards, individuals with smaller crypto holdings often join staking pools, combining their holdings with those of other users to increase their chances of being selected as transaction validators. Crypto holders who have ample holdings to be validators engage in locked staking, which involves locking their digital assets on a Proof of Stake (PoS) blockchain for a predetermined duration, contributing to the network and generating staking rewards.
LYOTRADE’s Staking Service: LYO Earn
LYOTRADE is a centralized digital currency exchange that serves as a reliable, comprehensive, and user-friendly platform for trading digital assets exclusively in the crypto-to-crypto domain. Alongside its trading features, LYOTRADE provides an integrated staking service called LYO Earn which enables users to stake either USDT or LYO tokens and earn rewards up to 36%.
The Mechanism & Benefits
The process is straightforward: users choose a pool based on their desired lock period and reward amount. When staking on LYO Earn, users have the flexibility to select lock-up periods ranging from one to two years, with the protocol randomly assigning a validator responsible for adding new blocks of transactions to the blockchain who receives rewards in return. Furthermore, opting for longer lock-up periods can result in higher returns apart from potential financial gains. In addition, crypto holders engaging in this activity are also contributing towards ensuring that transactions are processed properly while helping maintain network security by verifying any malicious activity that may occur on the blockchain network.
Safety & Security
LYOTRADE ensures safety through its multi-level security system which safeguards funds stored on its platform using cold wallets and state-of-the-art encryption technology such as SSL encryption algorithms and 2FA authentication methods along with regular risk management evaluations conducted by internal staff members as well as external professionals specialized in cryptosecurity services.
Crypto staking has emerged as an attractive option for those looking not just for potential financial gains but also help secure valuable digital asset networks while contributing towards maintaining safe transaction processing times throughout these networks at large scale levels without having any negative impact on performance or reliability standards set forth by today’s leading blockchains worldwide