Inflation got you down? 5 ways to accumulate crypto with little to no cost
Experienced crypto traders know that bull markets are for selling and bear markets are for accumulation, but the latter can be difficult amid a backdrop of surging inflation that saps the purchasing power of fiat currencies.
As the crypto market heads deeper into crypto winter, with prices in the gutter and developers focused on creating the next popular protocol or breakout token, some crypto fans have begun to explore new ways of increasing their stack in preparation for the next bull market.
Here’s a look at the top five ways hodlers can increase the size of their crypto portfolio without breaking the bank so that the money they earn can go toward combating the rising cost of living.
Staking is perhaps the most tested and proven way to increase the number of tokens held, as the vast majority of proof-of-stake (PoS) networks offer a steady yield for locking up coins.
In addition to helping with transaction validation and network security, staking tokens in a smart contract reduces the available circulating supply, which in turn can help boost the price of the underlying crypto asset.
Every proof of stake blockchain has different rules concerning payouts, yields, lock period, etc. so do research before staking any of your crypto assets to learn what the system entails
Care should be taken as to which token is staked, however, as crypto winters are known for leading to the demise of most protocols that lack solid fundamentals or significant backing.
Projects with an established track record, healthy trading volume and an active and growing community of users are some of the keys to look at when choosing a good PoS network. Some of the top options in the current market include Ethereum, Cosmos, Fantom, Solana, Avalanche,
Read more on cointelegraph.com
