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The popularity of cryptocurrencies over the past few years has lured many people into what is being called a 21st-century gold rush.
The many success stories have arguably instilled a curiosity about the potential of the crypto industry.
What Is Cryptocurrency?
Cryptocurrency, commonly known as crypto, is a virtual currency that uses cryptography to secure its transactions. Unlike fiat currencies, cryptos are not issued or controlled by any governing body; rather they use a decentralized system called blockchain to record transactions and issue new tokens.
Some of the trending cryptos are Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Cardano (CRYPTO: ADA) and Dogecoin (CRYPTO: DOGE).
Earning With Crypto?
When the first crypto, Bitcoin, was invented by Satoshi Nakamoto in 2008, the only way to earn money was by mining or receiving tokens from a colleague; however, now there are many more ways to make money with crypto, including staking, trading Application Programming Interface (API) and affiliate programs.
Staking is a way of validating crypto transactions by using tokens and coins locked in a crypto wallet. A proof-of-stake network uses the coins to validate transactions in the blockchain network, and there are rewards for doing so. In essence, staking is more like lending …
Full story available on Benzinga.com