Crypto Currency Staking, My Experience with MyCointainer

I had a problem; I keep seeing ads and articles about making a passive income with crypto by holding or staking it.

I wanted to make a passive income from crypto currency staking.

Crypto currency staking has been around for quite a while but is growing as a popular way to make a passive income from your crypto currency holdings.

Your participation in a Proof of Stake (PoS) system is to put your tokens in to serve as a validator to the blockchain and receive rewards.

Cryptocurrency staking has become a popular way to build a passive income, there was one problem. It can be quite technical. That was my problem. It is a lot of technical jargon and steps to figure out…

Allow me to explain just a little bit about staking crypto for rewards…

There are two types of crypto currency rewards, proof of work and proof of stake.

Bitcoin BTC and many crypto currencies function and gain rewards through proof of work.  “Proof-of-Stake (PoS) is one such consensus mechanism that can come in different variations and hybrid models.

For simplicity reasons, we will just refer to all of these as staking. Coin staking gives currency holders some decision power on the network. By staking coins, you gain the ability to vote and generate an income.

“This is quite similar to how someone would receive interest for holding money in a bank account or giving it to the bank to invest. https://trustwallet.com/staking ”

“Staking is the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. Essentially, it consists of locking cryptocurrencies to receive rewards… https://www.binance.vision/blockchain/what-is-staking”

“Each of the mining nodes that help to maintain the network in the Proof of Stake (PoS) blockchain network must stake or verify ownership of a number of cryptocurrencies. The staked amount shows that the owners of the nodes are investors in the network. It also allows them to take part in the creation of the new block (validation). In the end, they receive any accruing rewards https://cryptoblockwire.com/what-is-cryptocurrency-staking/ “

“…I believe Proof of Stake is a much better model than Proof of Work, as well as giving some real-world examples…https://www.bitdegree.org/tutorials/proof-of-work-vs-proof-of-stake/”

Here is Wikipedia’s definition of proof of stake: “Proof of stake (PoS) is a type of consensus algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age (i.e., the stake).

In contrast, the algorithm of proof-of-work-based cryptocurrencies such as bitcoin uses mining; that is, the solving of computationally intensive puzzles to validate transactions and create new blocks. https://en.wikipedia.org/wiki/Proof_of_stake”

Isn’t this very technical? Yes it actually is… That was the problem!

The average joe doesn’t have the time to understand, let alone complete all the tasks and technical steps to stake and maintain a small crypto holding…

So for myself or the average person just learning about crypto, just the jargon alone has to be researched… nodes, PoS, consensus algorithm…wth!

I found a solution…

My Cointainer is an automated, online staking and masternode staking platform. Fill up your cointainer with even more earnings. Invite your friends and MyCointainer will share the rewards with you! 20% of your referral’s rewards go to you! http://bit.ly/2Ra4pSY

One of their strategies is “As part of our strategy to gradually decentralize our platform we want our community to run MyCointainer.”

Make Even More on Your Crypto!

MyCointainer will utilize the power of blockchain (Proof of Stake + Masternodes) to generate stable profits for you.

I am quite pleased as I do not have to learn more about the details to make a residual income every day, week and month from my crypto deposited at MyCointainer. I do not have to know all the technical details! I just deposit my crypto on My Cointainer and earn while I sleep! Problem solved! To learn more, visit their website at http://bit.ly/2Ra4pSY

Fill up your cointainer with even more earnings. Invite your friends and they will share the rewards with you! 20% of your referral’s rewards go to you!

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References:

https://talkmarkets.com/content/beginners-guide-to-cryptocurrency-staking?post=249253&page=3

What is Coin Staking: Next Big Opportunity in Crypto for 2020

https://www.mycointainer.com/community/

https://www.binance.vision/blockchain/what-is-staking

https://trustwallet.com/staking

Proof of Work vs Proof of Stake

What Is Cryptocurrency Staking?