Cryptocurrencies started gaining prominence in 2013, attracting hundreds and thousands of investors across the globe. As a result, many people have now become interested in blockchain as well as related technologies. But the creation of cryptocurrencies brought along with them several challenges. While Bitcoin had enough options in terms of storage, other cryptos lacked the same. This is where HolyTransaction came into existence.
HolyTransaction was specifically designed to resolve this problem. The primary aim of the HolyTransaction Wallet is to ensure that all the popular cryptocurrencies are accessible, tradable, and storable as well as secure for every single user in the community, using just one account.
In this article, learn how to use the HolyTransaction Wallet for staking DAI, USDC, and USDT with Defi.
The HolyTransaction Wallet functions as the all-in-one cryptocurrency exchange and app. It allows you to deposit any type of cryptocurrency into the web wallet, and further use it for generating savings with stablecoins and trading cryptos. The wallet also lets you manage 30 separate cryptocurrencies in a single portfolio within a few seconds.
What is DeFi Staking?
DeFi staking is all about lending your crypto to a decentralized protocol without the need to purchase any expensive hardware or to carry out routine maintenance. It provides you with the perfect opportunity to earn passive money in the cryptocurrency markets. Staking of tokens with DeFi does not involve any overhead costs since the procedure requires no special equipment. Thus, savings your stablecoins is less expensive than mining cryptocurrencies.
Below, discover how to use the HolyTransaction Wallet for staking DAI, USDC, and USDT with Defi.
Before proceeding further, it is important to pick a stablecoin that you wish to stake. Remember, there are several that you can pick on HolyTransaction seamless exchange, such as USDT, USDC, and DAI. At present, you can add over 30 crypto to your HolyTransaction Wallet. However, sometimes it is difficult to view all of them every time you open your account. To view the entire list of digital currencies that you may want to store in this crypto wallet, you must follow the below-mentioned steps:
1. Log in into the wallet (or set up a fresh one on the website HolyTransaction.com by choosing the “Sign up” or “Sign in” option.)
2. Next, click on the “Plus” icon that is visible on the primary page of the wallet.
3. Here, you will find the complete list of the cryptocurrencies that you can easily store in your HolyTransaction wallet.
4. Now you can pick all your preferred stablecoins to start staking them.
After you have set up the web wallet, you will need to visit the “Staking” menu and follow the instruction in order to stake. Most of the staking schemes need a validator or staker, who remains connected on a 24×7 basis. However, you will not require a device with uninterrupted access to the Internet for staking your stablecoins.
To sum up, staking DAI, USDC, and USDT with Defi using the HolyTransaction wallet is a simple and easy process. It is cheaper as well as risky, and it is also a very environment-friendly way to earn a passive income in the crypto market.