What exactly is a blockchain wallet? Perhaps that is the best question to begin with. A wallet is best defined as that leather-bound “fold-over” pouch in which you keep your cash, credit cards, and that photo of your first Ferrari (which you will buy when bitcoin reaches $200k per coin).
Similar to the wallet in your back pocket, blockchain wallets are used to exchange and redeem bitcoin, which serves as the future’s database and platform.
Looking for the most efficient way to convert CASH or FIAT into Cryptocurrency? We use the blockchain wallet with COINBASE (which we recommend you set up because it is the greatest method to learn more). You get $10 in Bitcoin just for signing up).
Staked Coins are now available through Coinbase as a way to “Stake” or hold your coins for profit. You consent to “STAKE THEM,” which means you won’t exchange or sell them. In order to preserve the value of the COIN itself, they are STAKED. You get an APY, or Annual Percentage Yield, for doing so, much like with a Bond or Savings Account. From 0.01 to 251c9bb083002592c7fcb51e133658688fb6c2f708105f8b7d9253bb5602667b10 or above, these are available. The ones supported by Coinbase have been shown to be more secure. However, much like investing; there is always some risk involved in staking.
During the staking process, staked coins might get rewards, typically in the form of more coins. Similar to a bank bond or certificate of deposit.
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