Episode 5 - What is Staking

The reality is they have never taught us finance in school. Even to this day there is no high school that I know of that fully educates our youth in creating a bank account, stocks or real estate.... let alone the new changes we have going on right now with money and our economic system.

In Episode 5, DJ Meladik and Queen Meladee learn about staking crypto and the compounding interest that you can benefit from. Crypto exchanges like Crypto.com offer all holders a chance to stake various crypto currencies. It's actually fairly simple. It's like moving your money from a checking account to a savings account. In this situation it's called a wallet and the crypto staked in the wallet must remain there locked like a vault for an agreed amount of time which is usually 3 to 6 months. Some pay as much as 11%!

After moving the crypto to a staking wallet each holder is awarded free crypto depending on how much crypto was originally staked. So it's like getting paid for having your money in a savings account. This vault lock up helps secure the market, it helps stabilize pricing and encourages saving for the rewards of compounding interest.

Check out the newest episode of the Mind of Meladik podcast to learn more. Don't forget you can listen on your favorite platform such as Itunes, Google podcast, Spotify and more.