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How To Get Started With Web Staking

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Staking is one of the easiest ways to earn investment income with cryptocurrencies. In this guide, we explore how to get started with web staking to earn income on your digital asset holdings. 

How PoS Staking Works

The proof-of-stake (PoS) algorithm deployed by a large number of cryptocurrency networks involves participants “staking” digital asset holdings in order to secure the network. In exchange for staking, these validators receive staking rewards. 

To stake cryptocurrency, you will have to reserve large sums of a particular cryptocurrency in your wallet and connect it to the blockchain as a delegate/staker by holding it in the network’s official wallet. After this, you will begin to receive rewards on a (usually) daily basis for your service on the blockchain. The higher the number of cryptocurrency staked, the higher the validation power and staking reward.

For instance, on the Tezos blockchain, transactions are validated when bakers (individuals with large sums of tezzies (XTZ) reserved) watch the network and create blocks. These delegates are then rewarded with newly minted tezzies (XTZ).

Ethereum, the second-largest blockchain network, is currently using a proof-of-work (PoW) consensus algorithm but plans to move to proof-of-stake soon as its developers recognise the value of this alternative method of securing a decentralised blockchain network and rewarding participants.

Recently, third-party providers have launched staking-as-a-service, allowing users to stake cryptocurrencies without having to handle the technical aspects of it themselves. 

Another new development is web staking, a concept that intends to open up staking opportunities to more people. 

Web Staking CREDIT

Terra Credit

Web staking refers to performing staking on a web platform or application. It is a less demanding method of earning passive income with cryptocurrencies as it requires very little activity from the user. An example of a web staking platform is the Terrabit Staking web application.

Terrabit markets the platform as a “service to CREDIT holders as a new and convenient way to earn staking rewards.”

The platform allows users to stake CREDIT, the native token of the TerraBit blockchain. CREDIT is a utility token that enables users to access special features on Terrabit.

CREDIT holders pay zero-fee transactions, faster payments, and web staking. Users can earn up to 100% ROI by staking CREDIT on the Terrabit staking application. The staking collateral threshold for Terrabit is 10,000 CREDIT. This means that you need at least ten thousand coins to start staking and receive rewards.

Top features on the Terrabit staking app include:

  • Web-based CREDIT staking up to 100% per year
  • Hourly rewards
  • No lock-in period
  • Intuitive interface

Terrabit is a South African cryptocurrency trading platform that offers fiat-to-crypto services for five African countries. What’s more, CREDIT is trading on Bitforex, allowing users to change the cryptocurrency for others on an external exchange.

Additionally, CREDIT’s developers already recognised the trend of PoS staking over 18 months ago when they decided to opt for PoS as their network’s consensus algorithm. 

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4 Tips for Managing Your Emotions When Trading Crypto

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Managing Your Emotions When Trading

Dealing with emotions is a natural part of being human. How you feel can significantly impact the world around you, and that is an indisputable fact in life. However, the world of cryptocurrency trading can be an unforgiving place for the overly emotional. If you let your feelings cloud your decision-making, you risk selling too early, running losses, and missing out on significantly profitable opportunities had you stopped for a moment and thought the matter through with a clearer headspace.

For example, after hearing some concerning rumors, you rashly decided to empty out your XMR wallet and other crypto exchanges for fear of losing money. After some time, however, the prices bounce back higher than before, which is a cause for dismay because you lost all of your investment due to a rash decision on your part.

Hence, it is crucial to keep your emotions in check when trading. This is especially the case when you are trading in an extremely volatile industry such as cryptocurrency. The crypto market is notorious for its constantly fluctuating values and massive price swings. It can strike fear, panic, and greed in the least suspecting and cost you more than what you bargained for.

Whether you are new or experienced in dealing with crypto, managing one’s emotions is a must-have tool in your trader’s toolbox. To help you master this skill, here are some tips to keep in mind as you traverse the wild, harsh landscape of crypto trading.

Develop a Risk Management Plan

Risk management is an integral part of any kind of investment venture. You want to ensure that you have backups in place in case a situation arises that may threaten your initial investment. However, many new traders overlook the importance of considering their emotional responses and their risk tolerance when formulating their risk management plans. As a result, their plans crumble in the face of high-pressure situations.

As such, always consider your risk tolerance when developing a plan to mitigate trading risks. In fact, many trading consultants use it as a basis for forming your trading plan. By doing so, you can ensure that you are only taking on what you can handle emotionally as you work your way to reaching your financial goals. Over time, as you become more experienced and more in control of your emotional responses, you can decide to take on more risks.

Conduct In-Depth Research

One of the most effective ways to handle frantic feelings is to counter them with cold, harsh facts. Aside from your risk management plan, it is wise to conduct some research on your own that can substantiate or debunk any concerning news or rumors that might cause you to buy or sell on an impulse. For example, after hearing from another trader that one of the digital coins you invested in has died due to a lack of community support, you might be tempted to liquidate the entirety of your investment. However, after some digging, you determined that the community is still active and invested in improving said cryptocurrency.

It is also important to do your homework when picking which coins to support. Make sure to check the cryptocurrency’s whitepaper and the developers’ activities for a clearer idea of the coin’s potential. In this manner, you can feel assured that your investments have a high potential of bearing fruit in the future.

Do Not Obsess Over Market Charts

Many traders new to the crypto industry fall into the trap of obsessing over market charts. The constant flickering of colors and lights can be hypnotising to the unaware. They watch price fluctuations all day to ensure that they can take note of sudden price hikes and dips, which may lead down a path to profitable opportunities.

However, this method is not helpful to your mental and emotional health. Indeed, it can feel like an emotional rollercoaster watching prices go up and down continuously. Processing significant amounts of information for too long can wear you down over time and may instead cause you to decide poorly when an opportunity arrives. Thus, a word of advice: do not let the market chart take over you.

Take Advantage of Limit Orders

Signing into your crypto exchange after some time and learning that the value of your investment has plummeted is a reasonable fear for many traders. After all, it is not healthy to watch market charts like a hawk, and in the crypto space, so many things can happen after a short span of time. Fortunately, many crypto exchanges have stop-loss features. This is a feature that automatically sells your coins once their prices decline to a certain value. In this manner, you can feel assured that your investment remains intact, assuaging any fear or worry you may have while not on the crypto exchange.

Removing emotions from any decision-making process that you make is almost impossible. In a highly complex and volatile market like cryptocurrency, conquering your initial emotional responses and maintaining a clear head is a skill that you have to master through experience. By doing so, you can keep your eyes on the prize and trade in a manner that is most helpful to your needs.

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How to Bet with Bitcoin on Football

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With the new football season having started, it’s time to learn how you can bet with bitcoin on your favorite football club. The good news is that many online betting companies now accept bitcoin.

Read on to learn why betting companies love bitcoin and how to bet with BTC on your football team.

Why Betting Companies Support Bitcoin

Since its establishment in 2009, Bitcoin (BTC) has been and continues to be the most popular cryptocurrency, and with good reason. Some of Bitcoin’s most impactful features include:

1. Fast and inexpensive

With bitcoin, it takes a few minutes to send and receive any amount of money. And if you are using the Bitcoin Lightning Network to make payments, transaction costs are a few cents.

2. No third-party interference

Because of its decentralized nature, which makes it impossible for anyone (including governments) to control, you can feel safe to make any payments you want (including to online betting platforms). This also comes with the added advantage of not having to disclose your personal information when making a payment.

3. Supports borderless payments

With Bitcoin’s decentralized nature comes its borderless characteristics. This makes it possible for anyone in the world to be able to send and receive bitcoin payments wherever they are.

Betting companies were among the first adopters of bitcoin because it enables them to reach a broader audience and provide an innovative digital payment option to bettors. From playing a bitcoin slot to betting on any sport imaginable, bitcoin casinos and online betting companies have truly embraced bitcoin.

The credibility of bitcoin as a financial and payment solution is also being felt in the world of football. For example, in April 2021, Southhampton F.C began paying its players bonuses in bitcoin, opening up a whole world of possibility for other clubs to start doing the same.

How to Bet With Bitcoin on Football

Bet with Bitcoin on Football

Betting with bitcoin has proved to be an efficient process for bettors, and betting companies who have embraced cryptocurrency as an efficient payment system.

One of the leading sports betting companies that enables you to bet with bitcoin is Sportsbet.io. So let’s dive in and show you how you can bet with bitcoin on this popular platform.

Betting with Bitcoin on Sportsbet.io

Sportsbet.io is a user-friendly and highly modern betting platform. It has a functional live betting service and is one of the few betting companies that will allow you to bet in bitcoin through a few easy steps.

  1. Register for Sportsbet.io by clicking on the ‘Create an Account’ tab on the top right of the homepage.
  2. Access your wallet by logging into Sportsbet.io. On the top right of the page, next to your balance, click your balance or the ‘Deposit’ button.
  3. Next, you click on ‘Use Currency’ and on ‘Deposit.’
  4. A QR code will appear.
  5. Open your bitcoin wallet, scan the QR code, and choose how much BTC you want to send to your betting account.
  6. You will have to wait for three confirmations on the Bitcoin blockchain for your funds to settle in your SportsBet.io account.
  7. Start betting on your team(s).

Now that we have started you off on your journey, happy betting, and may the odds be ever in your favour!

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How to Cash Out Bitcoin to Naira Using Cryptofully

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Bitcoin to Naira

Over the past few months, Nigeria’s central bank has made it difficult for traders to cash out bitcoin to naira, restricting crypto companies from having a Nigerian bank account. But there is now a cheap and efficient way to cash out your bitcoin to naira.

In this guide, you will learn how to convert your BTC to NGN and receive the money in your bank account within minutes using Cryptofully.

Getting Started on Cryptofully 

Cryptofully is a peer-to-peer payments app that allows you to easily convert bitcoin to naira and automatically settles into your Naira bank account.

Using Cryptofully, you can cash out your bitcoin from anywhere in the world into any Nigerian bank account. The platform also supports US dollars and payment options, including Visa, Mastercard, Google Pay, and Apple Pay.

Cryptofully leverages a local network of peer-to-peer (P2P) traders, enabling it to convert BTC to NGN within minutes. With this P2P system, you are not looking for a peer to buy your bitcoin. Cryptofully automatically matches your trade to the best peer and makes it seamless for the user.  

All that’s needed to cash out bitcoin to naira using Cryptofully is to sign up, complete the KYC, add a bank account and convert your bitcoin to cash.

How to Cash Out Bitcoin to Nigerian Naira

You can cash out your bitcoin to your Nigerian bank account using either the Cryptofully website or mobile app. 

Download the Cryptofully App

mobile app

Step 1: Create an account

  1. Get the app on iOS or Android.
  2. Open the app and register with your email address and verify the email address.
  3. Start the KYC process. Visit Profile, click to Add bank, and add your BVN. You can also add your bank account in this section.

Step 2: Cash Out Your Bitcoin to Naira

  1. Type in the amount you want to cash out.
  2. Then choose to send via bitcoin.
  3. On the following page, you can add your bank account details in the recipient field.
  4. On the last page, you can see a Bitcoin wallet address. Send your bitcoin to that wallet address and within a few minutes, the equivalent amount in naira will settle in your bank account. 
  5. Cryptofully matches you to a peer instantly who sends the money to your naira bank account.

Visit the Cryptofully Website

Cryptofully Platform

You don’t need to sign up or log in with any details on the website to start using it

  1. Go to the Cryptofully website at www.cryptofully.com.
  2. Specify the amount of bitcoin you want to cash out to naira. You can use either the Floating Rate or Fixed Rate. The Floating Rate means the exchange rate can change based on changes in bitcoin prices, and the Fixed Rate means you can lock in an exchange rate for your transaction.
  3. The naira amount equivalent you will get in your bank account will appear below.
  4. On the following page, you will see a space to fill in the preferred bank account you want to receive your money.
  5. Then, you will be shown a Bitcoin wallet address. 
  6. Copy the wallet address and do a transfer to the address. The Cryptofully system matches you immediately to a peer.
  7. The peer sends the money and the money settles in your naira bank account.

Since the Central Bank of Nigeria enacted draconian measures against crypto companies, preventing them from having banking relationships, the peer-to-peer bitcoin trade has flourished in the West African country.

Peer-to-peer payment apps, like Cryptofully, are enabling Nigerians to continue using bitcoin for remittances, payments, and as an investment.

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