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Staked ICX Price (SICX)
$0.267367
4.28%
Staked ICX Price Chart (SICX/USD)
Last updated 15 Jun 2022, 20:39PM UTC. Currency in USD.
Markets
| # | Exchange | Pair | Price | Spread | Volume(24h) | Trust |
|---|
SICX Price Statistics
- Staked ICX Price Now $0
- 24h Low / 24h High $0 / $0
- Trading Volume $606,470
- Market Cap Rank #0
- Market Cap $0
- Volume / Market Cap 0.0000
-
All-Time High
$3 -90.24%
Nov 15, 2021 -
All-Time Low
$0 12.61%
Jun 15, 2022
Staked ICX Cryptocurrency
Introduction
Staked ICX is a form of cryptocurrency that allows individuals to earn rewards by staking their ICX tokens. The process of staking involves holding a certain amount of ICX in a digital wallet to support the network's operations and secure transactions. In return, participants are compensated with additional ICX tokens as an incentive for their contribution.
Benefits of Staking ICX
Staking ICX offers numerous advantages for crypto enthusiasts looking to maximize their earnings and actively participate in the ICON network. Here are some key benefits of staking ICX:
- Earn passive income: By staking ICX, individuals can earn additional tokens as a form of passive income. The more tokens one stakes, the higher the potential rewards become.
- Support network security: Stakers play a crucial role in maintaining the security and integrity of the ICON network. By participating in staking, individuals contribute to the validation of transactions and the overall stability of the ecosystem.
- Influence the governance system: Stakers also have the opportunity to actively participate in the network's governance and decision-making processes. The number of tokens staked determines one's voting power, allowing individuals to have a say in protocol upgrades, development proposals, and other important matters.
How Staked ICX Works
To start staking ICX, one needs to hold a certain amount of ICX tokens in a compatible digital wallet. Once the tokens are in the wallet, individuals can delegate their staking rights to a trusted staking provider. These providers have the necessary infrastructure and resources to secure the network and validate transactions. In return for delegating their tokens, stakers receive a portion of the block rewards generated by the network.
It's important to note that stakers must be cautious when selecting a staking provider. It's recommended to choose a reputable and reliable provider with a proven track record in the industry to ensure the security of the staked tokens.
Conclusion
Staked ICX offers individuals an exciting opportunity to earn passive income while actively participating in the ICON network. By staking their ICX tokens, users contribute to the network's security, influence its governance, and earn additional tokens as a reward. However, individuals should conduct thorough research and choose a reliable staking provider to ensure the safety of their staked assets. With the potential for both financial rewards and network governance participation, staked ICX presents an enticing prospect for crypto enthusiasts.