What Made AVAX One of the Best Cryptos to Stake
AVAX is a new cryptocurrency that is attracting a lot of attention. If you’ve been thinking about staking or investing, this blog post will give you all the information you need to make an informed decision. We’ll also include links to make your research easier.
You might be wondering what sets AVAX apart from other cryptos and why it has the potential for such a high return on investment. There are several reasons that AVAX stands out from its competitors:
1. Fast Transaction Speeds
First, AVAX is not a blockchain. Instead, it uses Directed Acyclic Graphs (DAGs) to produce high transaction speeds. DAGs have been highly successful with other projects like IOTA. DAG technology is poised to revolutionize the world of cryptocurrency by bringing us into the post-blockchain era.
AVAX’s transaction times are currently in the range of 2-3 seconds, though their white paper indicates that internal tests have reached speeds as fast as 1 second per transaction. Contrast this with Bitcoin’s long wait times, and you’ll see why many people are excited about this project!
2. Minimal Fees
Next, AVAX is designed to be a cheap and efficient currency used for daily transactions. If you’ve followed the crypto news in the past few months, you know that transaction fees are one of the hottest topics in crypto right now.
AVAX has set an ambitious goal of competing with credit cards for mainstream adoption. They plan to do this by keeping fees low and sharing their revenue with token holders. By holding AVX tokens, you earn 5% of all revenue generated by your stake.
3. Business Development
AVAX isn’t just a cryptocurrency. It’s also developing a patented payment card, and wireless payment infrastructure called the Smart Payment Card. If this project takes off, it could change the face of the payments industry and help AVX grow into a major player in this fast-growing sector. They plan to launch their first version of their card before the end of 2019, with a full launch planned for 2020.
There’s an abundance of interesting features coming to AVAX in the future, but that is not what I want to focus on right now. Rather, I want to focus on one feature that will prove extremely lucrative for token holders: staking!
4. Staking will be Very Profitable
When you stake AVAX, you earn money (5%) by holding onto your tokens in a wallet connected to the network. Many different staking wallets are available, such as the desktop client or the Electrum desktop wallet. The most secure option is to run a node on your computer and directly connect it to the network.
You need to unlock your wallet for staking only (aka separate your wallet) to start staking. You can do this in the “Settings” section of the desktop client. You’ll also want to make sure your wallet is connected to the network and that it has the full AVAX blockchain index. You can do this in the “Help” section of the client. It is the best coins to stake that are not yet in circulation or the ones already in circulation and have some extra value to them.
5. Double Your Money Every Two Years
If you hold your coins in a cold wallet, AVAX will pay you 5% of all revenue generated by your stake. That’s right: 5% of every transaction made on the network goes straight to token holders’ wallets. It is a very competitive rate compared to other staking coins like NavCoin, which only rewards its users 2.5%.
To calculate your potential return on investment, simply take the number of AVAX tokens you hold and multiply that figure by 50.
AVX supply is currently around 30 million, which makes its current market cap around $6 million; at the time of this writing, each token is worth 0.17 USD. So if you purchase 500 AVAX tokens, your current holdings will generate a return on investment of 2.35% (500 x 50 = $1750).
6. Low Entry Point
AVAX is not as difficult to purchase as other utility tokens. You can purchase AVX on exchanges like Binance, HitBTC, and Coinbase using the web wallet or mobile coins app (available from the iOS App Store).
If you plan to use a desktop wallet, you’ll want to use a hardware wallet like Trezor. Just remember that if your wallet is open for staking and your computer is infected with malware, you will be unable to access your funds!
7. Traders, Investors, and Speculators
AVAX is not targeting just hardcore, blockchain enthusiasts. Instead, they’re targeting a wide audience of individuals interested in making money from AVAX’s success. And with all the interesting features added to this coin, it could have a lot of potential for growth and investment opportunities going forward.
If you think about the future of cryptocurrency, you’ll likely see DAGs as a major change in how we do business. You might say that the whole blockchain craze is just the beginning of a revolution that will soon affect nearly every aspect of our lives.
8. Cloud Mining Services on Launch
One of the more interesting aspects of this crypto is that AVX plans to launch with a cloud mining service from day one. Through the use of crowd-mining, they are hoping to bring in a huge return on investment (ROI) and make AVX a success before it even has time to prove itself on the open market.
AVX’s initial cloud mining contracts will offer 4,000 GH/s for $1.10 per GH/s with a daily payout at $0.00125 per GH/s per day (for two years). Payments will be made weekly, and you can reinvest your mined coins into additional hashing power if you wish. There will also be a referral program, offering you a 10% commission for every GH/s purchased by your referrals.
In summary, AVAX is a unique cryptocurrency with lots of potentials. It combines many of the best features from other successful cryptos and adds interesting new twists to the formula. It’s relatively easy to purchase tokens, and staking will be extremely profitable for early investors. All in all, I’m excited about this project, and I look forward to watching it grow! Happy trading!
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