You ever take your money to a place to lock it up in order to receive extra cash for leaving it there? You’re probably like most people and have heard about interest rates at banks. Staking on the other hand involves a similar process but instead with crypto!
When you stake a crypto coin/token you’ll lock it up into a wallet and receive additional cryptocurrency as a reward.
Staking crypto does come with its fair share of pros and cons, but is it worth doing in the end?
Are staking rewards worth the wait?
The additional crypto you receive for locking away your coins is known as “staking rewards.” Sometimes these rewards may incorporate other perks as well, like access to exclusive platform features, higher rates of return, and more.
Earning these rewards will require you to wait over a specified time period. These periods are often determined by the platform that’s holding the staking. Binance, for example, offers locked staking periods of 30, 60, and 90 days.
While some individuals prefer quicker gains through means like using algo trading bots, staking can offer a slower yet steady way to earn crypto over time.
There is no need to have trading experience or acquire expensive mining equipment with staking. It’s because of staking’s lower barrier of entry that makes it a great way to establish passive revenue in crypto.
Staking definitely does come with its fair share of benefits. Those looking to earn a consistent interest rate, along with other possible rewards, may turn to staking some crypto coins.
What are the benefits of staking UBXT?
UBXT is the native token of the UpBots platform and is what helps to power our ecosystem. We offer a UBXT staking program that is currently active on the FTX exchange.
Users have several opportunities to generate a passive income stream on UpBots, and UBXT staking is one of them. Remember we mentioned staking may include other great rewards? Well, take a look at some of these!
UBXT staking program
-25% APR
-Access to 3 algo trading bots (only way to access them)
-Priority access to MVP features
...and much more
There is a 30 day unlock period for all UBXT tokens You’ll need to be staking on the FTX exchange and connect your FTX account to UpBots in order to receive an algo bots code.
The UpBots user base is continuing to grow and as more features release, there will be more ways to use and earn UBXT. If you’re prepared to start staking UBXT then you can read up on how to get started and sign up for a free UpBots account.
Have questions regarding the staking program or our platform? Come join our Telegram group!
Questions regarding algorithms or the trading bots? Jump into our Discord!