Cardano is a blockchain platform created by Charles Hoskinson, a co-founder of Ethereum, and developed by Input Output Hong Kong (IOHK). It emphasizes research-driven development and features a layered architecture that separates the settlement and computation layers, aiming to provide a secure and scalable environment for DApps and smart contracts.
How Cardano (ADA) Works?
Cardano's layered architecture, powered by the energy-efficient Ouroboros PoS consensus, separates ADA transactions from smart contracts. ADA serves as the native cryptocurrency for transactions, staking, and governance, while formal verification and a decentralized treasury system bolster security and community-driven development. Cardano provides a secure and scalable platform for diverse blockchain applications.
Staking Cardano (ADA)
If you have an interest in generating passive income and increasing your wealth through cryptocurrency, particularly Cardano (ADA), Bitrue offers an exceptional staking, accompanied by distinctive features and advantages. Below, we'll delve into the ways you can optimize your staking experience on Bitrue to maximize your gains:
Power Piggy is the best way for Cardano (ADA) holders looking for straightforward and flexible staking solutions. Currently, Power Piggy (Flexible Staking) offers an Annual Percentage Yield (APY) of up to 20%. This allows you to accrue daily interest on your staked Cardano (ADA), which is then deposited into your Bitrue account. For Power Piggy, There are no lockup periods, making you completely autonomous over your Cardano (ADA) holdings, enabling withdrawals or trading on the exchange at any time.
To start staking Cardano (ADA) with Power Piggy, follow these steps:
Explore the available coins and their respective APYs.
Choose Cardano (ADA) and select a time period and APY that align with your financial goals and risk appetite.
Click "Stake now" for Cardano (ADA) and provide your investment details.
Confirm your Cardano (ADA) stake, and you're all set to earn daily interest.
Enjoy daily interest payments credited to your Bitrue account around 16:00 UTC.
Staking for Other Tokens and Long-Term Investments:
If you're thinking about investing your cryptocurrency investments for a longer time, the traditional Staking option might be a better fit. It offers higher rewards in terms of Annual Percentage Yield (APY). However, your tokens will be locked up for a set period. It’s worth noting that you can cancel the staking early, but you won't earn any interest during the locked-up period.
Browse the available coins and their respective APYs for different lockup periods.
Choose the cryptocurrency and lockup period that align with your investment preferences.
Click "Stake now" for your chosen coin and provide the necessary investment details.
Confirm your investment, and your coins will be staked for the specified lockup period.
Watch your earnings grow with the higher APY rewards while your coins are staked.
In a nutshell, Bitrue's Power Piggy and Staking options give you great chances to make money passively with Cardano (ADA) and other cryptocurrencies. Just pick the one that matches your financial goals and how much risk you're comfortable with, and you're on your way to a potentially better financial future. Happy staking!
