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The crypto market is entering a new period of growth in 2024 according to market analysts.
With a series of Bitcoin spot ETF approvals and the next Bitcoin halving event on the horizon, it wouldn’t be surprising to see the market set new highs this year.
Along with crypto investment, crypto staking is also growing popular.
Crypto Staking is Not Without its Short-comings
But the problem is that crypto staking doesn’t have an excellent track record. A part of it has to do with the massive crashes in the crypto market in 2022. But more importantly, crypto staking systems are poorly designed.
Often, projects use staking as a mechanism to encourage long-term holding of the token with the promise of attractive passive rewards. In theory, it’s an excellent strategy. But in practice, it falls short when the underlying project is incapable of supporting the reward system.
To give you a better picture, staking systems are mostly tied to tokenomics. A portion of the supply is set aside to be distributed as rewards to investors who have locked their tokens with the platform. While the goal is to limit the token supply, it actually leads to an increasing supply sooner or later.
The most tragic part is, they cripple the internal economy of the project without a solid foundation. The value of a crypto token is dependent on its project and user base. If the project stagnates and fails to build a growing user base, the organic demand for the token declines, eventually leading to a collapse of the token price.
A large mound of staking rewards is useless when the token price slips at a faster rate. In essence, we need to look beyond the APYs when choosing a crypto staking platform. As it applies in the case of investment, the market relevance and growth potential of a project matters the most here too. Unless, of course, it is a meme coin. But meme coins are too volatile for staking.
Scorpion Casino Offers A Reliable Crypto Staking Option
Casino tokens have gained rapid popularity in 2023. Their significant growth potential is to thank.
Take Rollbit Coin, for instance, which climbed 5759.66% last year, taking the market by surprise. The online gambling industry is fertile for growth, particularly within the Web3 space. It offers attractive investment prospects this year and beyond, making it an excellent niche for crypto staking.
Scorpion Casino is an emerging crypto casino and sports betting platform that’s reshaping industry standards. But it’s not exclusively designed for gaming enthusiasts. Instead, it offers appealing avenues for passive income to retail investors through crypto staking.
Scorpion Casino embarked on its journey a year ago. Having cultivated a strong user base and credibility during this period, the project recently launched its presale.
The online gambling and sports betting dashboard, which saw its latest update in November, boasts an array of gambling and sports betting options. The gaming experience has led to the project’s soaring popularity.
Its offerings are comprehensive:
30,000 monthly betting opportunities
A curated assortment of over 210 casino games sourced from top providers
160 live games
A diverse sports betting landscape covering more than 35 sports
Additionally, it features engaging crash games for a broader audience.
Even if you’re not inclined towards gambling or gaming, you can earn money from the platform through investment and staking. The gaming experience follows the highest industry security standards.
The Scorpion Casino Staking System is Stable
You can invest in $SCORP tokens to make your entry into the online gambling industry at a low cost and with no technical knowledge.
Like any investment, SCORP is susceptible to market fluctuations. But the project has taken two measures to counteract this. Here is a quick look at the two-pronged deflationary tokenomics model.
Investors who stake $SCORP tokens stand to potentially earn up to $10,000 USDT daily.
$SCORP Pre-Sale is Selling Out Fast!
$2.5M+ Raised
5700+ Holders
Licensed & Regulated Crypto Casino
Up to $10k USDT Daily Staking Rewards
Get Daily Passive Staking Income from a Licensed Crypto Casino
Don’t miss out!
https://t.co/Z75XjmSi73… pic.twitter.com/bpXZ97mXZ6
— Scorpion Casino (@ScorpionCasino) December 27, 2023
The Early Investment Window is Closing
The $SCORP token presale has raised $2.7M at the time of this writing, which accounts for 96.93% of its minimum goal. With more than 6400 strategic investors already seizing this low-cap investment opportunity, the presale is likely to sell out ahead of schedule.
Retail investors can secure the tokens at a price of $0.026 each now. The projected debut exchange listing price of $0.05 allows them to potentially double their investment before market forces come into play.
Upon listing on top-tier exchanges over the following months, the token is likely to witness a surge of anywhere between 8X to 10X in a conservative analysis.
The post Crypto Staking is One of the Best Ways to Grow Wealth This Year – But Where to Invest Securely? appeared first on Cryptonews.
