If you have been watching cryptocurrency news lately, you'd know a thing or two about the impressive rise in the prices of these digital assets. Modeled around blockchain technology, cryptocurrencies are a rage these days and it all has a lot to do with the control an investor gets over the asset.
For instance, cryptocurrencies are not regulated by a central authority that has absolute control over them, so there is no fee or brokerage to pay. In other words, depending on your country's regulations, you are free to take home whatever you earn from your investments. Moreover, you don't have to worry about external factors like geopolitics or market volatility affecting your investments.
If you are a rookie trader who's looking for dependable investment options, you can start by reading up about some trusted names like Blockonnect, Bitcoin (BTC), and Near Protocol (NEAR). Read up about them and weigh their pros and cons, before making a final decision.
Blockonnect: Different kinds of staking services for different users
Blockonnect is an interoperable platform for trading and exchanging cryptocurrencies. It has a nuanced set of features for trading with Ethereum's (ETH) native token. Apart from trading, users can also stake cryptocurrencies and earn attractive rewards for their participation.
Blockonnect has a unique staking programme for its users. The platform enables anybody with spare ETH Tokens to verify transactions and earn staking rewards in exchange. In addition, there are two different types of staking services offered on the network. The first is the 'stake and earn' category, wherein users can stake Blockonnect tokens for 90 days while pocketing interest at the rate of 15 per cent per annum.
The second kind of staking service is soft staking which is especially suitable for those with idle balances. By soft staking, users can earn interest at the rate of 4 per cent per year on the cryptocurrencies that are stored on the exchange. These cryptocurrencies are not locked or frozen because the rewards are credited to a user's wallet on a flexible basis.
Apart from its several niche features, Blockonnect also serves users better for cost-effectiveness. Being a decentralised platform, asset management isn't subject to a third party or a central authority which in turn reduces the number of people involved in the process. Also, it employs smart contracts and non-fungible coins that ramp up automated features and minimise the scope of human governance. These features not only help in making ownership of assets transparent, but also speed up operations.
Bitcoin ends the week on a positive note
Bitcoin can be credited with introducing the world to the benefits of blockchain technology and how it can drive impact with applications like decentralised finance. The cryptocurrency has been posting consistent results since its launch in the 2000s and enjoys a considerable fan following across the world.
It has its own native token, BTC, which can be used for staking and other transactional purposes. On July 23, Bitcoin investors woke up to some good news as the cryptocurrency ended the week on a positive note. The cryptocurrency's price shot up slightly to cross $23,000 after registering a rise of 0.6 per cent during the 24 hours. The day's performance led to the cryptocurrency gaining 14 per cent over the previous week.
Near Protocol's near foundation teams up with Bitgo
Near Protocol is a multichain platform that provides developers with Web3 tools that ensure seamless deployment and scaling of dApps. Its native token, NEAR, is used for staking, paying charges, or any other transactional purpose on the platform.
Earlier on July 19, reports claimed that digital asset company Bitgo and the Near Foundation would be entering into a partnership to explore new opportunities. The partnership will enable institutions using NEAR Tokens to stake cryptocurrencies on Bitgo.
These three cryptocurrencies have drawn a lot of attention due to their innovative technology and loyal communities that follow them. It could be beneficial to add them to your portfolio for Q4.
Enter the presale: block.blockonnect.io/login
Emily Milton is the content strategist at New Age Digital.
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