Since reaching its new all-time high in mid-November, Bitcoin’s been either going down or sideways for the last 6 weeks. As usual, whenever Bitcoin goes down, the whole crypto market follows, and even gaming and metaverse-related altcoins started sinking after a while.
Times like this really highlight the benefits of holding tokens which can generative passive income through staking, providing liquidity, etc. I’m not talking here about projects like Wonderland, Olympus, or Jade Protocol, which promise 80,000% APY or more but more ‘sensible’ projects with a solid long-term potential.
Although there are different ways of earning interest on your crypto, usually, the most straightforward one is staking. Not every token can be staked, and the terms of staking can vary a lot.– it can be flexible, but it may also be fixed, often for 7, 14, 30, or 60 days. Sometimes it may be even a few months.– especially important on Ethereum blockchain due to potentially high gas fees.