Mining and Staking are the two most common ways to earn crypto, while being an active part of the crypto network. Miners and stakers form the basis of a crypto network, and do most of the work verifying transactions and building the blockchain. When a crypto is created its founders asks themselves an important question. How will our transactions get verified? Verification is called Consensus and is the process where transactions are confirmed as true and then secured into the blockchain. There are a variety of consensus types, but by far the two most common are Proof of Work (Mining) and Proof of Stake. Once a crypto has made the decision to use a particular type of consensus, they invite others to join their network as Miners (if they have chosen Proof of Work) or Stakers (if they have chosen Proof of Stake). Each type has its own reward structure. If you are a miner, then you will be rewarded for the amount of computing power you add to the network. If you are a Staker, then you will be rewarded for the amount of currency you stake. Mining In order to mine a coin, you will require a computer. The faster and more powerful, the better. There are three types of computers that you can use to mine, and the equipment you use depends on the particular crypto you wish to mine. CPU Mining; GPU Mining; ASIC Mining;
Staking In order to stake, you also need a computer. But not a powerful one, just one connected to the internet. You will also need the currency of your choice. This is your stake. This stake is locked up in a virtual safe, and if anomalies are detected from the node, the stake is forfeited. This is your incentive to not defraud. Your reward for this depends on the crypto you are staking, but is usually 5%. Most cryptos that are staked will have a calculator page that will help you calculate how much currency you need to stake in order to make a profit (over and above your expense of electricity and equipment you might purchase. Staking is generally a less technical venture, so is open to all those who have a computer connected to the internet, and spare cash. For a list of cryptos that you can stake, check out Proof-of-Stake Coins List. This includes the reward percentage, and appropriate links to get you started staking.
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