Cryptocurrencies are ripe with all kinds of investment and reward opportunities. The core concept of cryptocurrencies is that you can invest in various coins and make a fat profit when they go up high. Of course, you should invest in the long run rather than making short-term investments, because that keeps the blockchain running smoothly.
In the past couple of years, crypto casinos have been one of the top trends in the blockchain industry. Cryptocurrencies give players a chance to make safe, fast, and anonymous deposits and withdrawals. Volatility might be a concern for something, but then again, you’re free to use stablecoins for your gaming needs. Crypto casinos have also taken hold of the staking rewards mechanism, which allows players to earn extra rewards by putting their coins to work.
What is Crypto Staking?
Crypto staking is a way to earn rewards by putting your coins to work on a blockchain network. Networks need coins to operate properly, and by borrowing yours, you’ll help a blockchain run smoothly and efficiently. In return, you’ll get rewards from the network itself. Crypto staking is a great way to watch your portfolio grow without lifting a finger.
This feature is usually available at the top exchanges. However, many blockchain casinos have adopted the same approach, allowing their players to stake the network’s native coin and earn rewards. It’s a win-win for everyone – players get more native coins from the casino, while the casino manages to develop its network and allow it to grow.
How Does It Work?
Blockchain and crypto casinos validate transactions via decentralized groups of validators and native asset holders. Each blockchain casino has a native token that’s often handed out to players as a loyalty asset. These assets can later be reinvested in a crypto-staking scheme, to make a profit.
The reward for temporarily delegating your assets is more native coins or a percentage fee straight from the casino’s network. You don’t need to do anything but decide to stake your coins. The process is automated, with the casino’s blockchain handling the verification process.
As for how the process works itself, you’ll need to read more on the casino’s blog. Some of them have helpful guides, while others will refer you to the customer support team, which will provide all the information you need.
How Much Can You Earn?
It depends on the staking model. New crypto casinos with native coins usually share up to 30% of the revenue with token holders. Some projects burn half of their tokens to keep them deflated, using the other half for staking rewards. The project’s goal and the rewards should be described in detail on the terms and conditions page.
Many blockchain betting sites and casinos will have crypto staking guides where they talk more about the staking process and rewards. You can also talk to the customer support agents to understand more about staking, and what and when you’ll be getting returns.
Are There Any Drawbacks with Crypto Casino Staking?
Staking has a few drawbacks which you should be aware about before you start. While unlikely, there’s always a chance that you could lose your staked assets. This often happens due to network or validation failures. There haven’t been many cases where this has happened. But just to be on the safe side, we suggest talking about the risks with customer service agents at the crypto casino of choice.
Can You Unstake Your Assets?
This depends on the staking model and the casino or gambling dApp you’re playing at. In general, casino sites will allow you to unstake your assets at any time. Keep in mind that there’s almost always a waiting period before your coins are unstaked. You should know everything about this before you start staking, as it can influence your decision.
