What is staking and how to make money on it 

Staking is a system that rewards users for keeping crypto coins in their account. In the cryptosphere, it is a great option for additional passive income without investment. The purpose of staking is to support the health of the blockchain system and accrue bonuses to users for this.

Staking LOG

Staking is similar in principle to a bank deposit. Users store coins in their wallet, providing liquidity to the project. At the same time, you cannot use the currency: it is “frozen” in the wallet at a percentage.

Benefits of staking Woodcoin:

  • Environmental friendliness. Woodcoin stands for a green alternative to classic mining, which requires a lot of power. Staking consumes much less energy.
  • PoS. The mechanism is related to Proof of Stake. The principle applies here: the more LOG coins you store, the more blocks you have a chance to create. For each confirmed transaction, you will receive a reward of a certain number of coins.
  • Safety. While staking, your coins remain with you. With blockchain, data cannot be lost or stolen. Therefore, it is a safe way to get passive income.

Staking Platform

Woodcoin staking works on the Hermesus exchange:

https://staking.hermesus.com

Staking Woodcoin

The only requirement for staking is to keep coins in a cryptocurrency wallet for a certain amount of time. In return, you will receive a reward.

Staking features

  • Exchange for SeedCoin. Your deposit is locked for a certain period, during which you will receive a proportional amount of SeedCoin to the amount of Woodcoin you have provided for staking.
  • Woodcoins unlock automatically. After a certain amount of time, your Woodcoins will unlock and return to your wallet, ready to be used.
  • Staking conditions. The minimum coin storage period is 80 days, while the minimum stake quantity is 50 LOG.

Conclusions

Woodcoin staking is a promising way to earn passive income in cryptocurrency. Together with our partner Hermesus, we are trying to create comfortable staking conditions so that you get a positive experience!

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