How to Stake Tron TRX to get The Best Rewards in 2021
A Step by Step Guide for beginners to understand staking and Stake Tron TRX to get the best rewards!!
In the first section of the video I'll try to explain for beginners:
What is Staking ?
Then I'll move into showing step by step How to stake Tron TRX the easiest way using Tronscan.io
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If you consider the process a bit technical and complex for you, then you could Buy some TRX in Binance or OKX.
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For questions please Join me via
Telegram: https://t.me/cryptominingadvisor
Discord: / discord
Instagram: @cryptominingpc
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Some of the links and resources you could need:
Tronlink Wallet: https://www.tronlink.org/
Coingecko: https://www.coingecko.com/en/coins/tron
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Interested in Tron TRX Mining, watch the video below:
• How to Mine Tron TRX: Step-by-Step La...
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What is Tron TRX ?
TRON is a decentralized, open-source blockchain-based operating system with smart contract functionality, proof-of-stake principles as its consensus algorithm and a cryptocurrency native to the system, known as Tronix.
Tron works as many other blockchains under a "Proof of Stake" consensus mechanism. This means the Tron network relies on multiple validator nodes. The validators are the ones entrusted with securing all the transactions and generating new blocks.
These nodes are known as representatives and super representatives, to become a validator node there's an amount of stake needed, so that node needs to own an amount of TRX, think of this as keeping a security deposit to earn the right to become a validator.
So, What is staking ? and what is Tron staking ? How can we make money staking our Trons if we are not validators ?
All of these are great questions, and this is where we can come in and participate in the process to earn some rewards.
Super representatives need people lending them some TRX coins so they can have a good amount of Tron at stake and earn the right to become a validator each round.
In return the validators will send us part of the reward they are getting for each block, the reward will be proportional to the amount we stake thus we would receive TRX in return.
I really like the Tron network because is one of the fastests blockchains, you can try sending funds from one account to another and you will be amazed by the transaction speed.
And the second great thing I love the most about Tron is that transactions are Free , in Tron each account has a something called Bandwith and Energy.
Each time you make a transaction you will use Bandwith (transaction fee), the bandwith regenerates each day. So if you are not making a million transactions in a day you should be fine with the daily bandwith.
Energy on the other hand is what peple need to execute smart contracts and code, is basically how you pay for computational power, and also regenerates giving you a daily free allocation.
Good news, you can earn additional bandwith and energy when you freeze your TRX into stake.
DISCLAIMER: None of the content/description of the video is meant to be taken as any form of investment advice, this is just for educational purposes. Some of the links in this video/description may be affiliate links. That means, if you click on one of the links and make a purchase, I may receive a commission (at no extra charge to you). You may also get rewards or discounts using the referral codes.
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