In a rapidly expanding, ever-evolving industry like cryptocurrency, there are many ways to make a profit. For some, it’s the tried-and-true method of buying and hodling an asset long term. For others, it’s short-term trades that take advantage of price fluctuations. Those who already possess substantial holdings may opt to run a masternode to earn profits. Each of these investment approaches can be taken with Dash, and one’s selection will depend on any number of factors such as risk-tolerance, access, and personal preference. For Dash holders seeking an alternative way to yield returns, staking is an option.
This year, Valkyrie Investments Inc. began offering Dash staking through its Valkyrie Dash Trust (VDASH). Valkyrie is a specialized, alternative asset management firm that offers investors exposure to cryptocurrencies through traditional investment vehicles – vehicles such as trusts.
A trust is an investment vehicle that is professionally managed by asset managers to yield positive returns for investors in a secure manner. Valkyrie operates several single-asset cryptocurrency trusts including Bitcoin and trusts for several other assets, including Dash.
Dash was added because, as Valkyrie Chief Investment Officer Steven McClurg puts it, he wanted to release products for “under-the-radar altcoins where developers are building better technologies and decentralized applications.” Before delving further into VDASH, it’s important to understand the fundamentals of staking.