The ETHAX staking pool allows ETHAX token holders who ‘stake’ their ETHAX tokens, to earn a reward of 29.2% APY in ETHAX tokens. ETHAX token rewards are accumulated daily and can be withdrawn together with their original stake at any stage.

Like a lot of things in crypto, staking can be a complicated idea or a simple one depending on how many levels of the understanding you want to unlock. For a lot of traders and investors, knowing that staking is a way of earning rewards for holding certain cryptocurrencies is the key takeaway. But even if you’re just looking to earn some staking rewards, it’s useful to understand at least a little bit about how and why it works the way it does.

When ETHAX Token you own allow staking you can “stake” some of your holdings and earn a percentage-rate reward over time. This usually happens via a “staking pool” which you can think of as being similar to an interest-bearing savings account.

The reason your crypto earns rewards while staked is because the blockchain puts it to work. Cryptocurrencies that allow staking use a “consensus mechanism” called Proof of Stake, which is the way they ensure that all transactions are verified and secured without a bank or payment processor in the middle. Your crypto, if you choose to stake it, becomes part of that process.

The ETHAX Token and Staking app is built on the latest cutting-edge blockchain technology using the Binance Smart Chain. This allows ETHAX to take advantage of faster transactions, and cross-chain transfers, with Ethereum capability, at a fraction of the cost of the equivalent on the Ethereum blockchain. Using this technology allows ETHAX a seamless transition to utilize the Binance Launchpad as a future milestone for promoting the ETHAX Technology.