Staking crypto to earn a passive income used to be a tricky affair in the past, with technical navigation and crypto wallet complexity providing newcomers with significant technological barriers to access.
Users would need to know how to connect their wallets and computers to the blockchain network, and then manually activate smart contracts that would lock up their crypto assets for a period of time to contribute to the security of the blockchain, while also helping to validate transactions submitted to the network.
Much of these processes involved probability. It was never guaranteed whether or not you would get chosen to validate transactions, thereby earning the rewards. This made earning by staking not only a complicated process but an unpredictable one.
The creation of staking pools (more details covered in this article on “What is Staking?”) made staking crypto a much easier process, with more convenient participation and more predictable rewards. Read on to see how crypto exchanges or crypto staking platforms have used this convenience to offer their existing users the chance to stake with them.
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