The crypto market is growing with new coins and business models entering the stage. Many people continue to invest and are looking for ways to grow their portfolios. A good example is the staking option that many wallets nowadays offer. By holding your assets inside the wallet, you can get a yearly return of 10% on average. Next to that, you can continue to participate in consensus mechanisms. This has many advantages, which we will highlight in this article.
Participate in consensus mechanisms
When you keep your assets in your wallet, you can continue to participate in the consensus mechanisms. For example, in a Proof of Stake mechanism, you can leverage your ‘stake’ in the network to validate transactions. This will grow your funds over time and allow you to have a yield on your investments.
Do not keep your funds in an exchange
Although an exchange allows you to quickly transact in the market, you lose the benefits of making the asset work for you. Therefore, it is recommended to keep your assets in a wallet that allows you to either stake or participate in consensus mechanisms or both. There are also many decentralized exchanges you can leverage to transact, which do not require your funds to sit inside your exchange account. This can be a helpful compromise to enjoy the best of both worlds.
Tracking your investment
You can track your holdings through a crypto tracker. This is an application that lets you connect with exchanges through API and leverages the public key to include your wallet holdings. Since you only share the public key, this is a completely safe and helpful method to integrate your holdings. Since some coins have a dedicated wallet, it is often hard to keep track of the complete picture. Next to that, your assets grow over time through staking and consensus. When you integrate this into a crypto tracker, you will see a real-time view of your holdings which also reflects asset growth as well as market fluctuations.
Participation in Initial Coin Offerings (ICOs)
When you have a wallet integrated into a crypto tracker, you can also participate in ICOs. For example, when you purchase a new coin that is Ethereum-based (e.g., OMG), this is automatically reflected as it uses the same wallet. This approach makes it possible to have a real-time view without too much administration involved.
Delta is a good example of such an application
One of the leaders in the field is Delta. This is a provider that combines both crypto and traditional assets (e.g., stocks and bonds) into a single application. From there, you can integrate with exchanges and wallets and have a real-time overview of the market including the latest news and price fluctuations. Next to that, you can create custom push notifications to stay on top of things without the need to continuously open the application. Want to learn more about what Delta offers? You can visit their website through the following URL: https://delta.app/en.
