I have been staking for a while and now it has surpassed the same amount of interest from my bank that’s been sitting for over 12 years. Yup, you read that right! 12 friggin years!
My crypto journey began around late 2019 with just $200. And two years later today, Bitcoin and other cryptos were shooting up and then more corporations were adopting Bitcoin. Later on, whales also endorsed and were bullish about Bitcoin from this year and forward. Although it kind of dipped by May but eventually went back up by today.
As an example, I deposited some of my Ethereum and Litecoin with BlockFi yesterday and I already earned $1.09 in BTC in just one day. It isn’t that much but it’s here to show how staking can really be powerful if you play it right, it can lead you to large amounts. Here are the three other platforms I use as well.
My best advice is to only invest in what you can afford to lose. The easiest and less risky way to get to financial freedom is to just keep investing small amounts over a long time frame; the value should compound enough to the point that you can even quit your day job and just spend off the amounts little by little. You just need to be patient with it. There is no such thing as a quick and easy approach to becoming rich.
In any event, though, I advise you to not put all your crypto eggs in the same basket of compounding interests. Because in a decade or so, who knows what crypto will be by then? So when it comes to investments, the answer is to always diversify, especially when the stakes are larger.
Here’s encouraging everyone to try staking! Cheers.
P.S. Here’s the picture of the rest of my earnings in the bank. I just withdrew the $880 and will use it for staking instead. Remember guys, small amounts, different baskets.