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, in an effort 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 amount of 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 the securing of the blockchain and processing of transactions as well as contributing to the decision making process through voting.
By performing these tasks, the blockchain grants the holder rewards –known as 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 asset 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 and 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 their own innovative staking solutions, to accommodate the increasing investors’ demand for the service.
Staking started gaining popularity during the crypto winter of 2018, as investors scramble to take cover from the whipping dip and are expected to take a center stage in 2020 and going forward; with many staking pools, 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 to not just have an opportunity to earn passive and residual income from their crypto holdings but also want to be able to freely and easily 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.
Providing investors with the best of the worlds of staking, mining, and trading 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 of time in other 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; but with the KuCoin soft staking solutions, users can access their coins at any time, creating a way for you to earn with your tokens while still being able to trade them in the open market to take advantage of market opportunities. It’s just like you 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 have the freedom to withdraw or trade your crypto at any time if you no longer wish to keep earning or you want to take advantage of a market opportunity.
Crypto Assets 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 seem 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 daily profits.
However as with all centralized exchanges, in the event that the exchange is hacked or loses money to an employee gone rogue or any other reason for that matter your funds will be at risk.
What do you think about the KuCoin Soft Staking program? Are you staking on the KuCoin Exchange already? What’s been your experiences? Share with us in the comments section below.