Did you know, according to the Internal Revenue Service (IRS), that the average millionaire has seven streams of income? Most of these income streams are passive meaning they bring money in every minute with minimal work and attention. This is, in stark contrast to the average person who gets most of their money from their active nine-to-five grind.
But chin up! Cryptocurrency has opened the door to dozens of passive income streams via Staking.
Before you stake, it's probably a good idea to understand what staking is. You can learn about staking at the NAGAX Academy.
Since NAGA Coin is the cornerstone of the NAGAX ecosystem, users can enjoy certain benefits when staking NGC. The reward rate for NGC stacking varies and depends on the total amount of NGC staked.
Staking Rewards on Total NGC Staked
The NAGA Coin Staking rewards are distributed proportionally to your share of the total staked. Check out the rewards you can earn for staking NGC below. The more NGC you hold, the more interest you could get!
Note: You can unstake your NGCs at any time however, you can only get rewards if you stake for at least 1 day. What are the Benefits of Staking Crypto?
Cryptocurrency staking is a much more convenient and less expensive way to earn money than Proof-of-Work mining:
• No need to buy expensive equipment to get new coins.
• Staking barely needs computational power, which reduces energy utilization.
• The technical side of things is simpler than in Proof-of-Work because setting up a node and creating a wallet does not require as much technical knowledge as setting up a mining farm.
Staking NGC is very easy, totally secure, and can be done within a few minutes directly on the NAGAX page. To learn how to stake NGC on NAGAX, please click here.
The NGC staking is designed to reward our most loyal supporters. Your NAGA Coin staking tier will determine how many rewards you earn.
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Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.