Getting started with crypto trading can be a little bit challenging, especially if you have no trading background from stocks or forex market. Generating substantial profits is also not a walk in the park. Whether you are a newbie or an expert, you can easily blow your account because of the high volatility portrayed in cryptocurrencies.
Nonetheless, there are other smart ways of making substantial profits in cryptocurrency apart from just the traditional buying low and selling high. One such way to earn smartly with crypto trade is through Proof of Stake coins, also referred to as dividend-paying cryptocurrencies traded on POS platforms such as MyCointainer. In this regard, this review will delve into MyCointainer analyzing its key concepts.
MyCointainer is online automatic staking and masternode platform that generates profit for crypto traders in the form of ‘stakes.’ MyCointainer credits itself to be the easiest and safest way to stake and earn Proof-of-Stake cryptocurrency. The platform is a simple all in one platform that allows users to choose their PoS coins and get staking rewards from multiple crypto assets at once. The platform also offers advanced automatic staking but for selected altcoins.
What is Proof of Stake Coins?
Let’s start first by defining Proof of Stake(PoS) in cryptocurrencies. PoS is an interesting concept that allows an individual to mine or validate block transactions based on the coins he or she holds. In essence, this simply means that miners owning more crypto coins have more mining power. PoS was created as an alternative to Proof of Work(PoW), which was the original consensus mechanism in Bitcoin and the entire blockchain technology.
The problem with PoW is that it requires miners to have enormous hashing powers, which can only be achieved through huge amounts of energy that can be expensive hence reducing the profit margins. PoS is an excellent solution to the huge power consumption as it gives mining power based on the percentage of coins held by a miner. Also, Proof of Stake(PoS) is less prone to hacking attacks since the network structure makes it almost immune to mining attacks.
Proof of Stake coins is based on the PoS consensus mechanism. The best thing about PoS coins is that it provides coin holders with sustainability and real value thanks to dividends obtained through staking their coins on a staking and masternode pool platform such as MyCointainer.
How does MyCointainer Work?
MyCointainer basically works from stakes and masternode running. At the core of MyCointainer is the staking pool, which is the reward infrastructure that benefits every user who has staked his/her coins, even those with a small number of coins. The platform is able to automatically generate access to shared master nodes staking with every reward channeled to stackers being subject to compound interest. Normally, the returns are based on each coin consensus rule and usually varies from 1% to 149%. While most investments have no reward fees, some get a reward of up to 9%. All fees are usually transparent, and users can view them on their dashboards.
What makes MyCointainer stand out from the rest of the staking and masternode platforms is that every user benefits even those with limited amounts of coins. Also, every reward is subject to compound interest, thus the longer you stake your coins, the more rewards you earn. With such a system, holders of digital assets can easily and efficiently increase their profits without much hassle- just being part of a staking community.
MyCointainer currently supports over 40 different digital assets with the number expected to rise in the coming days. Some of the supported assets include Divi Coin, Energi, Rupaya, Polis, BitBay, Monetary Unit Neblio, among others. The platform also integrates shared master nodes technology, which group people together in a segment such that they can easily invest together for the collateral amount.
How to Earn Rewards with MyCointainer?
Earning rewards on MyCointainer is straightforward. First, you start by depositing a crypto coin of your choice to your MyCointainer staking address. The staking begins automatically after depositing the coin. With the investment going on automatically, future rewards are credited and added to your balance.
The whole process of passively earning through MyCointainer is scalable, transparent, and verifiable. Every participant in the staking pool is provided with a clear copy of all stakes — Id transactions and rewards. The developers are also looking to launch a solution that could help investors separate their rewards based on the ones coming from staking and the ones coming from Masternodes.
Benefit of MyCointainer
MyCointainer leverages Proof of Stake technology to enable users to earn from the coin stakes. Users stake their coins as validators on the platform and, in turn, receive rewards for their investment. The platform has several benefits outlined below:
- User-friendly interface – MyCointainer features an instinctive, user-friendly interface that can be used by both newbies as well as experienced crypto traders. Nu much expertise needed when managing coins or investing using the platform
- FIAT to Crypto gateway – Users can easily buy crypto with FIAT on MyCointainer.
- Access to shared Masternodes- Users are able to access shared masternodes staking involving a wide variety of coins. Each reward is also subject to compound interest; hence users have an excellent opportunity to enhance their earnings.
- Direct Interest – MyCointainer also offers direct interest in the rewards allowing users to generate more profits.
- Fees charged for using the platform are applied only on generated rewards, thus allowing users to make more profits.
- MyCointainer Power – Subscription-based services for smart stakers that want to waive their fee based on a monthly subscription.
- Automated stacking – With MyCointainer, you barely do nothing, and you can forget about trading strategies or conducting market analysis. You only need to deposit your investment, hold, and withdraw. Everything else will be handled automatically by the platform. Sit back and watch your balance grow.
- Regulated- The platform is regulated by the Financial Intelligence Unit(FIU) and licensed (No. FVR000557 and FRK000469 ) to provide services of exchanging a virtual currency against Fiat and wallet management. This assures users of the security of their coins.
- Benefits to community members that help out growing MyCointainer.
- You will get 20% of each reward that your referral has under the “Refer a Friend” system.
Are Your Funds SAFU?
MyContainer ensures the highest level of security of funds deposited by the users through a KYC/AML compliance structure. Verified users are able to deposit, withdraw and stake any acceptable token on the platform providing a safe environment for users across the globe. MyContainer also ensures the highest level of security for users through their double-checking system on all transactions completed on the platform.
Digital assets are stored in cold storage wallets to minimize any threats from hackers and coins are only transferred during transactions. In case of any emergency, MyContainer users are protected by the SAFU fund, Secure Asset Fund for Users.
MyCointainer’s mission is to grow a community of crypto enthusiasts to empower members to passively earn a steady income without much hassle or trading risk. Every reward is also subject to compound interest; thus, users are able to earn even more income compared to if they could stake solely. MyCointainer is the best choice for crypto traders looking to passively earn income or grow their digital assets without much risk. Sign up today and let your money work for you.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.