Assalamu alaikum friends! I am hopeful that everyone will be safe and sound just like me and actively participating in different engagement challenges and other contests
 |
|---|
This is a very interesting and important topic chosen by the Crypto academy again. I really like to talk about the topics related to cryptocurrencies. I really love the STEEM STAKING and today I am happy because I will like to share some of the important information related to staking.
Cryptocurrency staking operation and it's working
Cryptocurrency stacking is a term that is used for the collecting and after the locking up of the cryptocurrency in blockchain and the cryptocurrency that will be locked will be according to the negative tokens of the particular blockchain.
The more there will be taking the more it will be beneficial for the blockchain.
For any transaction made at the blockchain there are different nodes (users working) at Blockchain. Whenever they write a blog then they require some of their staked tokens but in very little amount to add new blog at Blockchain. Basically it provide the security system to Blockchain and the nodes working at the blockchain.
Security that is due to staking cannot allow any fake transaction to be happen at the blockchain because when there will be zero stacking tokens then no transaction will occur automatically by the blockchain and hence it will secure the blockchain and users.
 Source |
|---|
When you lock or stake some cryptocurrency at the blockchain then you cannot sell or buy it very readily because it will take a little process and in this process first your all tokens starts to deposit in digital currency wallet and then the tokens are held for some time.
This time overs very soon and then you can even withdraw or even sell or buy your cryptocurrency ,everything you can whatever you want.
STEEMIT Blockchain is offering staking?If yes then how?
Yes the blockchain at which we are working currently is STEEMIT and with its name it is indicating that which cryptocurrency it is offering to its users and the cryptocurrency is STEEM token. The process of stacking or locking up of STEEM coin is very simple and easy.
From the time I have joined this blockchain I am in club5050 and by this action I am doing continuously power ups at every month. I am converting 50% of my monthly earning into my steem power.
I will like to share the procedure behind the power ups. Recently powered up 50% of my monthly earnings through my wallet.
| Step 1 | First of all we need the important STEEM KEYS because in every kind of transaction these keys are important and used and for that reason their safety is very important for all of us. Then we login into our wallet then it will require our private posting key or private active key from us or we can also use master password for this purpose. |
|---|---|
| Step 2 | When we login and go on to the homepage then we will see an arrow present just parallel to the STEEM TOKENS. We will click on that arrow then from many options we will choose the power up. |
 |  |
|---|
| Step 3 | After that homepage will disappear and another page will appear to us and we will enter the amount which we want to stake or to convert into our power. We will put the required amount which we want. |
|---|---|
| Step 4 | After that we will confirm the action of powering up by just clicking on the option of power up which is in black colour. That was all about the procedure behind the power ups. |
I love to stake STEEM token in my personal exchange or STEEMIT?
Personally I just love this blockchain because there is a lot of security of everything for their users at this platform that's why I totally believe on it and with no doubt I can trust at this blockchain. For that reason if I have STEEM TOKENS stack them at this blockchain (STEEMIT).
It's my personal choice to store my tokens at this blockchain and also if we see it logically then there are a lot of benefits of stacking some of them I am discussing here:
Curation earning
The more the steem power you have, the more you have chances to earn curation rewards. The value of your vote depends upon the value of your stacked tokens. Whatever is the amount of your staked tokens, you will receive the 50% of your vote in return that you are giving to other users and now it is very understood for you that how much it is important and beneficial for stacking tokens here.
Stronger reputation
When you earn more from curation rewards, then it is understood that your votes increase your reputation and reputation have a lot of important and influence at this platform or at blockchain to gain attention of other users.
 Source |
|---|
Make Blockchain more stronger
The more there are tokens stacked by the people or the users,the more there are chances of the stability and security of this platform or blockchain. People with the more STEEM POWER also have more ability to upvote a downvote on other posts.
Am I working hard to build my steem power?
Yes definitely I am working very hard to achieve my goals at this platform but still I am very behind from my goals and sometimes I get disappointed but I am also motivation for me because I keep myself motivating in the time of disappointment or distress.
Now I am working very hard and actively working at this platform by posting voting and commenting daily and I am doing this for a purpose and every month I set at target of achiving 1000 steem power.
But I never achieve it and I am working for it from 3 months and not earning the money which I want but still I am converting 50% of my earnings into my power and I am striving very hard for it day by day.
If I talk about my votes and comments then it's true that I am doing both of the things and continuously voting and commenting and utilising my voting power in this way.
Still I don't have the enough steem power to leave the big upvotes on other contents. But I am continuously working on it and at one day I will be able to give the big upvotes to users for their encouragement.
Did I know engagement importance at STEEMIT?
Yes I like engaging with other users like this platform and I also know the importance of the engagement. When I was new at this platform then I don't know that how much is important to keep in contact with other users by engaging with their blogs.
 Source |
|---|
One day I don't receive any notification or my posts and I am getting discouraged and after that time I asked from a expert user about the importance of engagement.
Then I come to know that how much it is important thing and if everyone stops to engaging at this platform then this platform will not work in a proper way because this is a social media platform so if users seems to introvert then it will not a positive thing for this platform.
Basically when you comment on other posts then it motivate others and if you stop it then it will demotivate other users. So it is helping Steemit to gain more growth and relevance
These were all about the things about which I have information and I tried my best to share it with you guys
Hi @khursheedanwar
You have written well about the topic. Staking of the Steem or in other words powerups helps us to gain more benefits in the ecosystem. By interacting with other users we can motivate the other users to produce more quality content.
You are right thats why the Steemit team encourages the users to power up their earnings so that the platform and the user both got benefits.Along with the curation rewards the worth of the Steem token also increases beacuse if more users stack them there will be less demand and more supply that results to rise the prices.
You have done a good job. Thanks for sharing I wish you success in the contest.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you so much for your nice comment
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
We support quality posts anywhere and any tags.
Curated by : @steemdoctor1
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Saludos amigo.
Con el staking en esta plataforma podemos generar recompensas y crecer con el poder del voto se acrecienta más.
El proceso del Power Up es sencillo de hacer y tiene sus ventajas. Por cierto, hay hecho un buen encendido🥳🚀 esto nos conviene a los que hacernos vida en esta plataforma para subir en la reputación y el SP.
Creo que hay hecho una buena presentación con sus respectivos soportes y me alegra leer tu post.
Éxitos y feliz día para ti 🙂
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
We support quality posts anywhere and any tags.
Curated by : @steemdoctor1
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you very much for supporting.
Have a great y
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You have sound Understanding about crypto staking sir. I think it is best for we to invest more on our Steem power so we can be earning good Rewards just as you have shared with us.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
TEAM 1
Congratulations! This post has been upvoted through steemcurator04. We support quality posts , good comments anywhere and any tags.Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks @suboohi
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit