What is a blockchain wallet?
That is the first question we need to ask. A wallet is best described as that leather bound “fold-over” pouch or purse you store your cash, credit cards, that photo of your first supercar (that you are going to buy when your bitcoin goes to $200k each), or pics of your family.
The blockchain is the new database of the future. It is the platform that Cryptocurrencies reside in. This requires a digital wallet to exchange, utilize and redeem. This is a virtual environment. It 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 – because its the best way to learn more. You get $10 in BTC just for joining).
From there, you’ll see several other wallets. They are all set with purposes and resource within blockchain, cryptocurrency and the growing digital future.
Coinbase is now offering Staked Coins.
Staked coins are coins you hold for gains. You agree to lock them, where you “STAKE THEM” meaning you will not sell or transfer them. Staking holds 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 are ranging from 0.01 to sometimes 25{aa0e6a09ffbf64b0d1bad8a7c2e4afc6d5381a848be02ebf318e41b2b3492063} or more. The ones supported within Coinbase generally have proven to be more safe. But risk is always involved with investments and staking.
While Staked coins are gaining rewards, you can usually obtain aditional coin. Similar to a bank bond or Certificate on Deposit, it is used to create and leverage the creation of additional Crypto Coins.