Knowledge

What is Staking Daily? Benefits of Joining Staking Daily At 5ROI Global

single-image

What is Staking?

Before understanding Staking Daily, we should learn about the term Staking in financial transactions. Staking in English means deposit – A method to help investors earn profits from cryptocurrencies. Users must hold a certain amount of assets for a specified period of time to participate in Staking.

In a word, Staking is a method similar to bank savings. You deposit your idle money in a bank for a certain term and receive the corresponding amount of interest. Accordingly, different types of assets will have different staking rates, depending on the reward mechanism as well as the business model that the platform is aiming for.

For example, Cardano (ADA) pays staking interest up to 12%/year, but OLA coin is up to 48%/year.

Daily Staking feature at 5ROI Global

Staking Daily is a feature on 5ROI Global that allows users to receive rewards for storing coins/tokens on Spot wallets. This reward depends on the number of coins/tokens that the user holds and the percentage of profit the user can receive based on the reward levels from the 5ROI Global system. The difference between Staking Daily and regular Staking forms is that the 5ROI Global system periodically scans and closes the user’s Spot wallet balance at 23:59 UTC every day, then the reward will be allocated to the user’s wallet the next day and the user coin/token will not be locked.

Daily staking is when investors store digital assets on the 5ROI Global platform to receive rewards every day in crypto according to the interest rates applicable to each asset class. Currently, 5ROI Global is supporting Staking Daily for VNDO, MVNDO, … corresponding to the annual profit received up to 13.9%/year.

Benefits of joining Staking Daily

Staking is suitable for users who have a certain amount of idle money, want to save profitably with stable and safe profits and do not want to risk investing in other forms.

In addition, with attractive and competitive interest rates compared to other international exchanges, there is no need to lock the assets participating in staking, users can still trade at any time without affecting interest benefits.. In addition, the daily interest payment, the profit will be closed at 23:59 UTC and will pay interest the next day, which is a huge advantage for Staking Daily at 5ROI Global.

Of course, users also need to find out which projects are really reputable and quality and should not choose a project based solely on interest rates. There are many projects that claim staking rates up to 40-50% but carry a very high risk of losing money.

In general, if you are having a stable job, an idle amount of money and do not want to participate in risky investment forms, then Staking is really an option worth participating in.

>>> See more posts: Synthetix (SNX) Overview

You may also like