Algorand(ALGO)
In the first place, Algorand(ALGO) is a cryptocurrency with a limited supply of coins. Furthermore, the team has developed an open-source blockchain-based decentralized network with a lot of expertise in finance and cryptography.
Unlike the majority of current blockchain projects, Algorand is created by the improvement of existing time-proven technologies, instead of trying new ones. Algorand is one fast blockchain without sharding, delegation or bonding, or any other complications.
In detail, Algorand will use the Pure Proof of Stake consensus protocol that handles the transaction verification process. Also, any user of the network is able to launch a node, stake a certain amount of ALGO tokens, and yield the rewards from partaking in the consensus.
To do so users don't need to invest in excessively-priced bespoke hardware to do the work, but a fairly powerful node with a stable Internet connection will be required.
How to earn Passive Income with Algorand
Users of the network are able to earn Algorand dividends by locking up coins(ALGO) as collateral. Staking Algorand can be done in many ways, however, the easiest and most profitable way is PoS staking at Binance:
- Acquire ALGO tokens at a cryptocurrency exchange
- At Binance platform choose 'Binance Earn' in upper menu
- Find ALGO in the Locked Staking list(you have to scroll down a bit)
- If you don’t have ALGO funds in your wallet ‘market buy’ some or deposit
- Click ‘Transfer’ button and store ALGO tokens here
| 🔔 If you are interested into staking from wallets(hardware and software) or platforms like Binance or Kraken which have their unique reward policies. Read this helpful guide: Best places to stake Algorand(ALGO). |
