CryptoCube Weekly

Hi Crypto Fam 

BTC $62 810

Eth $3164 

Sol $138 

So as usual we are here to drop some knowledge on the best things in crypto 

We have been developing over the weeks to continuously bring more value to our subscribers, 

This week we will dive into 

Staking , mining,  airdrops some popular ways of making money in crypto 

So for starters  

Staking 

Staking essentially is helping the crypto being staked become more liquid in other words adding more money to the pool and in more detailed terms it is verifying crypto transactions. Cryptos that stake use what's known as proof of stake consensus, heard all too often in other words it is locking the crypto in and then earning a percentage return the longer you stake , and the most popular of these would be Ethereum the first to popularise this method.

Some new projects will give the option to stake for a certain period for example : stake now and receive rewards in 2-6 weeks and then the user will be able to “unstake “ or to get their money back. Some don’t like this method as most cryptos can be volatile and price can change during those weeks and often fear losing in that time. The best is to practice and see how it works, stake some eth and unstake and receive rewards using smaller amounts to reduce the risk. 

Mining 

We discussed this during the bitcoin week and briefly covered this method, which is when the crypto is “mined” using hardware machines in order to process and verify transactions and add more to the blockchain, Bitcoin is not the only currency to use mining there are others such as Kaspa which also use a mining method similar to that of bitcoin. 

In simple mining it is adding strength to the cryptos network and also gives incentives or rewards to the ones who are mining the cryptos in the form of the chosen crypto. Just like the halving where the block rewards are halved however miners are typically paid everyday in the chosen crypto all depending on the power of the machine used to mine this is where the hash power comes in handy although the more powerful machines are a lot more expensive and can make it difficult for entry level miners to get involved , there are other options with a much cheaper machine however the rewards will not be as great. some popular brands include bitmain and ice river.

Airdrops 

Airdrops gained popularity more recently with the rise of the action within the crypto space so many new projects have emerged that last year 6000 cryptos had been removed from coinmarket cap and if you have a look there are still thousands available, so to make it more attractive to users and to stand out amongst the mist, new projects began offering “airdrops'' where the user is paid in the chosen crypto currency just for participating in the project at an early stage , many of these projects would include Ai projects, crypto games, Defi, meme coins and other projects  many users get excited with the potential of earning “free money “ but it's not really free as users often have to give time and effort in order to participate and sometimes even buy some of the coins or use the platform that is being developed. Some crypto investors make it a full time job and call themselves “ airdrop farmers” where they constantly find and participate in new projects and gain cryptos from all these projects. 

So all that said , we hope you enjoyed this weeks update we are constantly condensing information making it easier to understand and dive in , so have scan at the popular projects already out  and start exploring the new ones coming up and start experimenting , crypto is all about participating and being active in the community and networks and why we always emphasize to DYOR as by doing so you gain your Cryptopendance and become confident in the project you are investing in. start with small allocations and slowly build up your portfolio. 

Next week we will dive into whitepapers and some basic portfolio building!

Again we are here to help please feel free to reach at any time !  

Happy investing 

Blessings 

CryptoCube