What exactly is a Blockchain Wallet? Perhaps that is the best question to begin with. A wallet is best described as that leather-bound “fold-over” pouch in which you keep your cash, credit cards, and that photo of your first supercar (which you will buy when Bitcoin reaches $200k per coin).
What is the Blockchain?
To exchange, use, and redeem cryptocurrency (Bitcoin), you’ll need a wallet on the blockchain, which is the database and platform of the future. That is, it is a virtual environment that functions similarly to the wallet in your back pocket, but only in the digital world.
Looking for the most efficient way to convert CASH or FIAT into Cryptocurrency? We used the blockchain wallet with COINBASE (which we recommend you set up – it’s the best way to learn more). You get $10 in Bitcoin just for signing up).
There are also several other wallets, each with its own set of goals and resources within blockchain, cryptocurrency, and the expanding digital future that awaits us all.
Increase the value of Coins
Coinbase now provides Staked Coins, as well as the option to “Stake” or hold your coins for gains. You agree to “STAKE THEM” which means you will not sell or transfer them. As a result, the coins are STAKED, and they retain the value of the COIN. As with a Bond or Savings Account, you receive an APY or Annual Percentage Yield for doing so. The APY can range from 0.01 to 25% or more in some cases. Coinbase-supported STAKED COINS have generally proven to be more secure. However, keep in mind that risk is always present in investments, including staking.
Staked Coins can earn rewards, usually in the form of additional coins, while the staking is taking place.
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