Blockchain Wallet, how do we explain it? Knowing about a regular wallet gives a good place to start. Describe the wallet you carry and the items that go in the wallet. Above all, normally there is a little cash and credit cards along with some personal pictures. Because these are items that you need or want to carry with you.
Accordingly, the blockchain is a platform – the new data base where digital money is kept in a wallet. Cryptocurrencies are the digital money which requires a wallet so it can be exchanged, used, and take out. Matter of fact it is the virtual world and acts a lot like the wallet you carry in your pocket. The difference being, it operates in the data world.
Basically, in order to add Cash Money or Fiat into Cryptocurrency you need a blockchain wallet. Consequently let me suggest you set up an account in Coinbase. When you join you will be rewarded with $10 in Bit Coin (BTC).
Cryptocurrency is the future coming to us very fast. Go into Coinbase and discover the other wallets available. Each serves a particular purpose with a resource within blockchain.
Staking With Blockchain Wallet
Staking coins is holding onto your coins for a period of time. Hence, helping to hold the value of the coin. Exchanges like Coinbase offer Staked coins. Staking means you agree not to sell or transfer them for a set period. Therefore you are offered APY, Annual Percentage Yield. Actually like you would get with CD’s or saving accounts. however you usually get better interest. Those supported in Coinbase have proven to be safer in general. Risk is involved with investments and that includes staking.
Earning rewards, usually more coins, happens with staking. Receiving interest on Bonds and CD’s is very similar. Creating more Crypto coins generally comes from staking.