Every individual has a different perspective and requirements related to savings and investments. While some people lock their investment for a specific time to earn good interest, others opt for a flexible investment plan, even if it gives a lower profit. These investors become even more particular with investment plans when their crypto-assets are involved.
To meet these varying needs of crypto investors and give them good returns, Flitpay has introduced an innovative Staking portal for its users.
This Crypto Staking portal is an opportunity for Flitpay users to win good rewards on their crypto investments.
Flitpay offers two types of Staking:
- Fixed Staking
- Flexible Staking
While Fixed Staking is already live on the Flitpay website, Flexible Staking is about to launch soon in the upcoming days.
So let's know the difference between these two staking types.
Fixed Staking
As the name suggests, it is a plan in which you allow Flitpay to lock your crypto asset for a fixed period and get a compensation reward as an interest yield. This Staking has a fixed period and a fixed interest rate that differentiates it from the Flexible staking plan.
Fixed Staking on Flitpay can give excellent returns to users if they follow their staking guidelines. The interest rates in this type of Staking are as high as 17%.
One thing to note in fixed Staking is that the user would not be allowed to use the locked crypto asset for trading till the locking period gets completed. However, suppose the users choose an early redemption for any reason. In that case, they will not gain any interest, and the only principal amount would be redeemed to their account.
Pros of Fixed Staking
- Generally gives high returns without facing the risk of live market trading.
- You can choose the locking tenure from varying period options per your requirements and strategies.
- You get a wide variety of coin options to stake in the Fixed staking plan of Flitpay.
Cons of Fixed Staking
- The only negative point in Fixed Staking is that the users would not get any interest if they redeem their staked asset before the end date.
Flexible Staking
There is no necessity to lock your crypto asset for a specific time if you choose Flitpay's Flexible staking plan. You can withdraw your crypto asset(s) any day without losing the interest made. It works exactly like traditional savings accounts in banks. However, the only point of differentiation is that a crypto asset is involved instead of a fiat currency. Flexible Staking is undoubtedly the easiest way to earn crypto without strictly monitoring the market.
The interest rates on Flexible Staking of a crypto asset are lower than that of Fixed Staking. But you get the facility to liquify your digital assets whenever you want.
Pros of Flexible Staking
- You get the complete amount (principal + interest) whenever you redeem your coins in Flexible Staking with no deduction.
- Since tokens are not locked in Flexible Staking and no time restriction is involved, you can easily withdraw the amount for crypto trading or converting to INR.
Cons of Flexible Staking
- Sometimes lower interest rates as compared to fixed Staking.
Which one is better?
There is no right or wrong when choosing a staking type. It depends on the users and their investment planning. If you are sure to lock you a crypto asset for a fixed time, you should go for Flitpay's Fixed staking plan that gives good returns. But if you do not want your crypto investment to get locked for a period, then you can go for the flexible staking plan of Flitpay.
But in both cases, choosing the right plan and the right cryptocurrency is the most crucial thing to ensure good returns.
