Almost everyone has ever heard about cryptocurrencies and the perks they may bring. Yet, not everyone knows how it’s possible to make money with the help of crypto. If you are interested in this issue and want to become an active and successful crypto trader, it’s a good idea to consider the following tips on how to stake or mine ETC.
The first thing to clarify is why it’s a good idea to start from ETC but not from BTC. Many newbies do not even imagine how many digital assets exist at the moment. The total number of available digital currencies gas exceeded 2000. No wonder it’s not an easy task to select the most profitable crypto pair. It’s a good idea to try ETC to XPR deals when it comes to staking. The thing is, you can’t stake ETC, but XPR is quite good for it.
ETC is a short name for Ethereum Classic. The main peculiarity of this currency is that it allows the building and deploying of smart contacts. By staking the coin, users do not only improve the blockchain itself but have good chances to get profit. Proton or XPR is another blockchain-based crypto. It also deals with smart contracts. Moreover, it’s good for peer-to-peer payments or consumer applications. Converting ETC to XPR is one of the possible ways to earn some funds.
Then, it’s better to prefer staking. You do not need to be an IT genius to lock digital assets. All the operations can be done online with the help of special software. Your task is to define when it’s the best time to generate profits from the coins or withdraw them.
Crypto Mining: Major Peculiarities
ETC mining is another way to grab benefits from cryptocurrencies. It’s a big mistake to think that this method doesn’t suit newbies who are not ready to invest significant funds. It was true several years ago when crypto mining implied the purchase of powerful and very expensive equipment. Nowadays, it’s enough to install special software and select the financing plan that meets your budget.
To start online ETC mining, you have to clarify the following points:
- The size of the deposit (it can be from hundreds to thousands of dollars);
- Preferable payment methods;
- Possible digital currencies.
Although mining is virtual, the profits are real. In order to achieve maximum results, you should carefully pick up the platforms you are going to work with. Otherwise, you risk becoming a victim of scammers. It’s a good idea to work with well-known services, which have high ratings.
There is one more question all the newbies ask. Where to get the first coins to start the first journey in the world of digital assets? The answer is quite simple. Users can use effective online exchanges like LetsExchange, for instance.
So, the right choice of the exchange platform is a key element to successful and profitable staking and mining. It’s also necessary to stay informed about the major changes in the modern crypto market in order to be able to select the right coins.