What is a blockchain wallet? Maybe that is the best question to start with. A wallet is best described as that leather-bound “fold-over” pouch where you store your cash, credit cards, and that photo of your first supercar (that you will buy when your bitcoin goes to $200k each).
Well, the blockchain – the new database of the future and platform that Cryptocurrencies reside in requires a wallet to exchange, utilize and redeem. This virtual environment operates like that wallet in your back pocket, only in the data world.
Looking for the best way to upload CASH or FIAT into Cryptocurrency? We use the blockchain wallet with COINBASE (we suggest you set it up – it’s the best way to learn more.
From there, there are several other wallets – all with set purposes and resources within the blockchain, cryptocurrency, and the growing digital future in store for us all.
Coinbase now offers Staked Coins and the option to “Stake” or hold your coins for gains. You agree to lock them, where you “STAKE THEM,” meaning you will not sell or transfer them. They are STAKED, so they hold the value of the COIN itself. For doing so, you get an APY or Annual Percentage Yield as you would with a Bond or Savings Account—these range from 0.01 to sometimes 25% or more. The ones supported within Coinbase generally have proven to be safer. But risk is always involved with investments, and that includes staking.
Staked Coins are able to gain in rewards, usually in additional coins as the staking is occurring. Similar to a bank bond or Certificate of Deposit. Used to create and leverage the creation of additional Crypto Coins.
