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I have been in the cryptocurrency space since early April 2021, so I am a definite newbie. Most of my crypto posts will be aimed at dishing out beginner’s level advice, and right off the top I highly recommend the Crypto Tips YouTube Channel. The top crytocurrencies that are available for staking are discussed in the following video.
#Bitcoin will be the most powerful financial instrument the world has ever seen.
Thank you for reading this post, don't forget to subscribe!— Heidi (@blockchainchick) August 2, 2021
Before I begin, I am not a financial advisor and I am just sharing information/insight I have learned along the way. Heidi Chakos and Toby Cunningham are a married couple that are passionate about the crypto space. That said, they are not coin shillers and give viewers an even handed review about DeFi (decentralization) and the utility of Bitcoin, Ethereum, and a multitude of alt coins.
Staking is a huge part of this world, and ultimately it’s akin to getting a return on your investment. For example, investing in Algorand gets you a 4% APY. All of my trading is done through Coinbase, and Algorand is great at showing investors the daily returns they receive on their staked ALGO. Bitcoin is widely considered to be a hedge against inflation and a store of value, coins that stake can also be considered as a long term investment mechanism.
Even if you are focused on day trading your crypto, you can also have some of your investments sitting in your Cold Wallet or exchange for an extended period of time. Having fiat currency sitting in the checking account with 0% return is the way it is, but staking offers up a different (and potentially more profitable) path.
Heidi does not mention Algorand in her video. Cardano, Polkadot, Solana, and Ethereum are her selections, and she gives a solid breakdown on each of their strengths. I stake my Cardano through the Yoroi Wallet and have found it to be a seamless process. Cardano, Ethereum, and Algorand are part of my investment portfolio, so I have my own personal “stake” (pun intended) in the game.
There are a plethora of YouTube Channels on crypto out there, and I will be discussing/reviewing them on this site moving forward. Crypto Tips was my top pick because Heidi and Toby are great at delivering knowledge to beginners in a non-condescending way. Their no frills and honest approach appeals to me as well as my mother, and we always inform each other whenever Crypto Tips releases a new video.
Hedi and Toby are not 100% in agreement with certain alt coins/investments. This leads to some constructive discussion as well as letting viewers have a more well rounded look at a certain topic.
If you are purchasing a Ledger Nano X to store your crypto and need a tutorial, Heidi does a great job at breaking it down. Having a cold wallet to store your investments is mandatory in this space. As the saying goes, “not your keys, not your coins.”
I started my investments in April by signing up to Coinbase and to date that is the only exchange I use to buy and sell my crypto. You can use my Coinbase referral link to sign up. Even if you don’t intend to spend a dime on crypto before doing your own research, Coinbase Earn is a great way of collecting passive income from the jump.
For example, by taking the Compound quiz on Coinbase Earn you will earn $9 in COMP. You can convert it to whatever currency you want (that’s listed on Coinbase).
Check out Heidi’s video on staking below and just fyi she and Toby release a ton of content on their channel (including a weekly AMA). Once I scrape a few nickels together, I’ll join their Patreon community as well for more much needed knowledge.
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