How does staking work? Back to list

Member SinceSep 14, 2022

Posts 35

Womak

Sep 22, 2022 a 03:03
To stake your tokens, you must own a cryptocurrency using a proof-of-stake blockchain. With staking, you lock up your assets to participate in that network's blockchain and contribute to its security. Validators receive rewards in that cryptocurrency, known as staking rewards, for locking up their assets and participating in network validation.
There are many leading crypto exchanges that offer staking rewards, such as Binance.US, Coinbase, and Kraken. “A more passive or novice user can stake their cryptos directly on the exchange for slightly more convenience, but the exchange will take a portion of the yields,” Trakulhoon says. It is also possible to set up a cryptocurrency wallet that supports staking.

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