The KuCoin soft staking program is the most innovative, all-in-one soft staking solution, offering some of the highest rewards in the market yet.
Popularly known as the People’s Exchange, KuCoin is focused and committed to bringing more value to all users and investors on its platform –pioneering the now popular crypto soft staking solution in 2019 and recently launching the Pool-X staking, mining, and trading platform to expand and maximize investor earning opportunities and contributing significantly to the development of the staking market.
What is Crypto Staking?
Staking is the process of “locking,” “freezing,” or “setting aside” a certain amount of digital assets to qualify for staking rewards.
Usually, every blockchain network has its own required minimum asset holdings to become a node operator or validator (miner) on the network.
For example, the minimum ETH required to become a validator on the Ethereum 2.0 network is 32 ETH, which is well over $5,000 (currently in testnet).
Crypto staking offers investors the opportunity to put up their crypto assets “at stake” in a validator node for securing the blockchain, processing transactions, and contributing to the decision-making process through voting.
By performing these tasks, the blockchain grants the holder the staking rewards.
Crypto Staking is based on the Proof of Stake mechanism, which states that a person can mine, validate blockchain transactions, or vote in the decision-making process concerning the network, according to the number of the crypto assets that they own and have locked up in the network as well as how long they have those coins staked.
Therefore, the more coin a person has “staked” or “locked up as collateral” and the longer they keep it on the network, the more mining powers they have and the more likely they’re to be chosen to be the next validator of a block transaction on the network. Therefore, the more of the rewards (profit) they get to enjoy.
The Growth of Crypto Staking
These days, most exchanges and several wallet providers have developed innovative staking solutions to accommodate the increasing investors’ demand for the service.
Staking started gaining popularity during the crypto winter of 2018, as investors scrambled to take cover from the whipping dip and are expected to take center stage in 2020 and the future, with many staking pools and exchanges offering innovative and highly competitive programs.
These staking-as-a-service providers —staking wallets, exchanges, and pools have helped simplify the process for non-technical crypto asset investors, thus lowering the entry barrier to crypto investing and encouraging mass participation in staking.
The KuCoin Soft Staking Program
The KuCoin soft staking program has become more attractive to investors who are looking not just to have an opportunity to earn passive and residual income from their crypto holdings but also want to be able to freely and quickly adjust their portfolio based on market conditions –something that’s not practical in regular staking programs.
This flexibility, among other reasons, makes the KuCoin soft staking program among the most successful in the industry.
We provide investors with the best staking, mining, and trading worlds under a single account.
The KuCoin Exchange and partners are currently leading the way in terms of innovative crypto soft staking solutions and contributing significantly to the growth and development of the entire crypto staking market –first with the KuCoin soft staking program and then their new Pool-X staking, mining, and trading platform (you need to read the post) to give the investors and users maximum flexibility and profitability combined with the convenience and total safety of funds.
This innovative program turns the idea of crypto staking on its head.
The primary idea of staking generally is to have crypto assets locked up for a predefined period to enjoy the rewards. As the people’s exchange, KuCoin sees things differently –from the perspective of the users and investors.
Ordinarily, staked crypto-assets cannot be accessed, traded, or used until the expiration of the staking period. Still, with the KuCoin soft staking solutions, users can access their coins at any time, creating a way for you to earn with their tokens while still being able to trade them in the open market to take advantage of market opportunities. It’s just like eating your cake and having it.
So how do one stake on KuCoin?
That’s actually the easiest part of it. Staking on KuCoin only requires you to Sign Up for a free KuCoin Account; purchase any of the supported staking coins and keep them in your KuCoin Account.
Your daily profits will be credited to your account, and you can withdraw or trade your crypto at any time if you no longer wish to keep earning or want to take advantage of a market opportunity.
Cryp Supported by the KuCoin Soft Staking Program
Below is an updated list of the coins available for staking in the KuCoin soft staking program; ATOM seems to be the most popular and most staked crypto among them, with ONION producing the highest Annualized Rate of Return (ARR) of about 23% as per the data on the KuCoin Blog:
- Internet of Services（IOST）
- Neblio (NEBL)
- DeepOnion (ONION)
- Energi (NRG)
- NULS (NULS)
- TomoChain (TOMO)
- EOSForce (EOSC)
- Loom Network (LOOM)
- Loki (LOKI)
- V Systems (VSYS)
- Wanchain (WAN)
- IoTeX (IOTX)
- Tezos (XTZ)
- Elastos (ELA)
- PIVX (PIVX)
- Ontology (ONT)
Thus, all you need to do is hold any of the tokens listed above in either the trading account or main account on the KuCoin Exchange and receive the rewards daily.
Final Thought on Kucoin Soft Staking Program
With the KuCoin soft staking program, you don’t have to invest resources in any equipment, wallet setup or bother with participating in the voting and decision-making process of the blockchain network; the exchange handles all the technical aspects of the staking process for investors, and all you do is place your coin in your KuCoin Exchange account and enjoy your accruing dailthe y profits.
However, as with all centralized exchanges, your funds will be at risk if the exchange is hacked or you lose money to an employee who has gone rogue or for any other reason.
What do you think about the KuCoin Soft Staking program? Are you staking on the KuCoin Exchange already? What have been your experiences? Share with us in the comments section below.