Crypto platforms like Binance, WhiteBIT and eToro offer a number of trading tools allowing many earning opportunities for users. One of the most used instruments is crypto staking. It is the way to receive passive income from holding your crypto coins on a platform that works similarly to bank deposits. The essence is locking coins for some time and receiving additional coins as a result.
Some facts about staking:
- Once you put your coins in staking, you cannot sell them. They are locked until the staking period ends. Crypto that is held in staking supports a platform’s liquidity.
- Different exchanges offer different staking programs and rates.
- You can’t withdraw coins before the locking period ends, or if you do so, you lose rewards or, in some cases, pay penalties (depending on the platform).
To understand how many coins you need to lock and how many additional coins you receive, use a stake calculator crypto. Every crypto platform offers this option for users to understand staking conditions and possible rewards.
Crypto Staking Calculator on WhiteBIT
WhiteBIT is a multifunctional crypto platform with over 2 million users worldwide. It offers a convenient interface, so even a beginner trader will handle it on the first try. Novice traders especially appreciate staking programs on WhiteBIT divided into 40 plans with 10 – 360-day staking periods. It is the best way to receive passive income only in case you pick a good crypto asset.
Not all digital coins are suitable for staking. Look for those coins with the biggest liquidity and the smallest level of volatility. For example, pick one of the most traded cryptos in ranking. On the WhoteBIT website, you will find staking crypto calculator, where you can try a different number of coins and periods (10 – 360 days). A calculator visualises your possible earnings so you can evaluate risks and make a smart decision on how many coins and for what period you will lock. Since the market is highly volatile, sometimes it happens that the asset price drops and your losses exceed possible rewards. That is another reason why you should pick only liquid assets.