Tron Staking, one of the best methods Earn passive income It is through investing in Tron (TRX) digital currency. With the Stakelink mechanism, each node can have a share in the network management and commit to the blockchain network and the positive performance of Tron. In addition, users who stake will have a certain share of Tron’s price increase. In this article, in addition to the full introduction of StakingTron, we are going to talk about ways to earn money through this method. We will also address the question of how feasible it is to mine Tron and how to earn Tron by staking. Stay with us until the end of the article.
Introducing the Tron project
To get to know Tron staking, we need to get to know Tron digital currency and its project as one of the most attractive projects in the blockchain world. This network has extremely high scalability; It also allows users to unmediated, with assistance Smart contractsrun decentralized applications (dApps) on it. In the Tron network, the speed of transactions is several times faster than the two digital currencies Ethereum and Bitcoin, for this reason, its popularity is increasing day by day. In Tron network, 2000 transactions are done every second. All tokens created on the Tron network are based on the TRC-20 standard. In the following, we will learn more about this cryptocurrency.
What is Tron digital currency?
Tron digital currency with abbreviated name TRX, is a native token of the Tron network, which was created in 2017 and managed to earn more than 70 million dollars in ICO. Although initially, Tron was based on the Ethereum blockchain and the ERC-20 standard; But one year later, in 2018, it was transferred to its own blockchain network. It is good to know that Tron digital currency from Represented Stake Proof Consensus Algorithm (DPoS) uses. This algorithm was introduced after the Proof of Stake (PoS) consensus algorithm to provide a better solution to the Proof of Work (PoW) consensus. According to this method, users who own Tron choose several representatives and entrust them with the responsibility of verifying blocks.
Thron extraction (TRX) How is that?
You may be surprised to know that it is not possible to mine Tron. Because Tron is based on the DPoS algorithm; Users who start staking Tron or buy digital currency can get voting rights and play a role in Tron network management. In addition, users who stake TRON currency will be rewarded with TRON tokens (TRX).
Instead of using expensive mining hardware and consuming a lot of electricity, you can get TRON rewards by staking TRON or buying other cryptocurrencies. This method of acquiring Tron is very profitable and has attracted the opinion of many users; Therefore, instead of mining Tron, various other methods have been defined to obtain it. One of these methods is Staking Tron.
Staking Tron guide
In this section, we answer the question of what actions should be taken for staking throne. As you know, for this purpose, in addition to knowing the Tron price situation and its analysis methods, we must also fully master the Tron digital currency staking steps; Because staking is the most important method to acquire this digital currency.
Tron staking methods
In Tron staking, by purchasing TRX digital currency and keeping it, you can get Tron rewards through the Delegated Proof Of Stake or DPoS mechanism. For staking, users can buy Tron and save and stake in the TRX wallet. In addition, there are other methods such as using a reliable trading platform and digital currency exchanges to stake Tron.
Some trading platforms have also enabled betting to win Tron as a reward. In this way, you can get your reward by buying Tron and opening a trading position for a limited time in your portfolio.
The steps of staking Tron
Tron staking, like other investment methods, has steps that must be followed carefully. In general, for TRX staking, you must go through the following steps:
- Create an account in a TRX wallet.
- Deposit as much as you need into your account or buy a cryptocurrency.
- Buy some Tron (TRX) using existing assets.
- Keep the purchased Tron in your account.
- Select a validator from the staking section.
- Lock the amount of Tron you want with the validator.
- Tron staking reward will be credited to your account (usually every wallet has defined a certain period of time to hold Tron).
Suitable wallets for Stake Tron currency
You may be wondering what wallets are best for Stake Tron? In response, we must say that fortunately there are many volts for this work. Including The best stakingtron wallets They are:
- Tron Link
- TronWallet
- Exodus Wallet
- Cobo Wallet
- Trust Wallet
- Tronscan
- Atomic Wallet
- Imtoken
Suitable platforms for Tron currency stake
In addition to TRX wallets, another Tron staking method is to use Trading platforms Here are some of them:
- Coinbase
- Binance
- Crypto.com
- Pancake Swap
- Olympus DAO
Current price and future trend forecast
You may already be determined to steak Tron; But users who plan to invest in Tron should be well informed about the current price and its future trend. This helps them to experience a secure transaction and enjoy Tron rewards. Now the question is, is it really profitable to invest in Tron and stake it?
It is good to know that Tron is currently trading at $0.05 at the time of writing. The daily trading volume of this digital currency is about 120 million dollars and its market size reaches more than 5 billion dollars. The price of TRX has faced a 33.61% decrease since last year. Meanwhile, its price has grown by 1.3% in the last month.
Fundamental analysis data shows that Tron still has a promising future. Many big companies and reputable exchanges are turning to Tron and providing staking. According to the latest predictions, the price of Tron in the next 5 years will be as follows:
- 2023: $0.083
- 2024: $0.119
- 2025: $0.160
- 2026: $0.23
- 2027: $0.36
How profitable is Tron staking?
Different wallets and platforms have different reward amounts for StakingTron. In general, the more Tron you stack, the more rewards you get. For example, stick Tron in Atomic Volt, 5 percent, Trust Volt, 4.1 percent, and Ledger, 3.3 percent It gives you annual profit.
Some important points about Stakingtron
To deposit Tron, you should pay attention to important points. Knowing these points will help you choose the right methods for staking and earn more profit. Also, don’t forget that Tron cannot be mined; So the more you invest in stacking it, the more potential you have for profit.
The first point: One of the most important points in the Tron staking process is checking the time required for the reward calculation to be activated. See how much time the wallet or exchange in question has defined to start calculating Tron rewards. In order for the bonus calculation to start, your capital must remain in the account for a few days. This time is shorter in some exchanges and longer in some.
Second point: Check which Volts or Platforms Easier to use And they are more fluent. This issue is very important; Because if the desired wallet is complex, staking tron may become difficult for you.
Third point: Each exchange or wallet has its own annual profit amount. As we mentioned in the previous section, StakingTron’s annual profit amount on different platforms from 3 to 6 percent It is diverse. Choose the one that will give you more profit.
Fourth point: Choose a wallet that is more reliable and secure. Today, there are various hardware and software wallets. It is better to choose a wallet that is less likely to be hacked and has a reasonable price.
Due to price fluctuations, you may not get significant rewards from staking in the long run; So have a plan and a specific goal for steak and focus on it.
Written by Stake Tron; How to make money from Stakingtron? The first time in the blog Valx. appeared.
