How To Stake On Crypto Com App?

Want to know how to stake on the Crypto.com app? Here’s a quick and easy guide on how to do it.

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Introduction

Cryptocurrency staking is the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. Essentially, it is a form of passive income, as users are rewarded for their contribution to the network. The size of the reward depends on the amount of cryptocurrency staked and the length of time it is staked for. Many Proof-of-Stake (PoS) cryptocurrencies require users to stake their coins in order to participate in validating new blocks and earning rewards.

The Crypto.com App allows you to easily buy, store, and transfer cryptocurrencies, including but not limited to Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Stellar (XLM), and more. With the Crypto.com App, you can stake your crypto and earn up to 8% p.a. on your BTC, ETH, LTC, XRP, XLM, and other select cryptos with flexible lock-up periods from 1 month to 5 years!

What is Crypto.com?

Crypto.com is a popular cryptocurrency exchange that allows you to buy, sell, and trade a variety of digital assets. The platform is easy to use and offers a variety of features, making it a great choice for beginners and experienced traders alike. In addition to traditional crypto-to-fiat pairs, Crypto.com also offers a range of crypto-to-crypto pairs.

What is staking?

Have you ever wondered how people make money with cryptocurrency? If so, you may have heard of the term “staking” before. But what is staking? And how can you start staking on the Crypto.com app?

In its simplest form, staking is when someone holds onto their cryptocurrency in order to support the network or validate transactions. In return for their help, they are rewarded with more of the cryptocurrency they are staking.

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The process of staking can vary depending on the cryptocurrency being staked. For example, some cryptocurrencies require users to “lock up” their coins in a digital wallet for a set period of time, while others may allow users to stake their coins without having to do this.

With that said, let’s take a look at how you can start staking on the Crypto.com app.

Why stake on Crypto.com?

There are many reasons to stake on Crypto.com, but the most popular ones are for the potential rewards and for the added security it provides to the network. Staking can also help support the price of a cryptocurrency by making it more difficult for bad actors to manipulate the market.

How to stake on Crypto.com?

Crypto.com offers a unique opportunity to earn interest on your cryptocurrency holdings. By staking your crypto in their app, you can earn up to 18% per year on your investment. In this article, we’ll show you how to stake your crypto and start earning interest.

To stake on Crypto.com, you’ll need to first deposit your crypto into the app. Once your crypto is deposited, you can choose to stake it for a fixed term (1 month, 3 months, 6 months, or 12 months) or for a flexible term (which allows you to redeem your stakes at any time). Once you’ve chosen your term, you’ll be able to see the interest rate that you’ll earn on your deposit.

Once you’ve decided how much and for how long you want to stake your crypto, all you need to do is press the “Stake” button. Your deposited crypto will then be locked up for the duration of the chosen term, and you’ll start earning interest on it immediately. It’s that easy!

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If you want to redeem your stakes before the end of the term, you can do so at any time by pressing the “Redeem” button in the app. However, please note that redemption fees may apply.

What are the benefits of staking on Crypto.com?

The Crypto.com app allows you to stake your crypto to earn interest. The APY (annual percentage yield) on your stakes depends on the coin that you stake and the length of time that you stake it for. For example, at the time of writing, the APY for staking BTC for 30 days is 5%.

There are several benefits to staking your crypto on Crypto.com, including:

-Earn interest on your crypto: By staking your crypto on Crypto.com, you can earn interest on it. The APY that you earn depends on the coin that you stake and the length of time that you stake it for.

-Receive bonus rewards: When you stake certain coins on Crypto.com, you may be eligible to receive bonus rewards, such as airdrops or other promotional offers.

-Help secure the network: When you stake your crypto on Crypto.com, you are helping to secure the network and may be eligible to earn rewards for doing so.

What are the risks of staking on Crypto.com?

When you stake on Crypto.com, you are essentially lending your crypto to the app in order to earn interest. As with any lending product, there are some risks involved. Here are a few things to keep in mind:

-The price of crypto is volatile, which means that the value of your deposit could go up or down over time. This is true for all crypto staking products, not just Crypto.com.

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-If you unstake your crypto before the end of the staking period, you will incur a penalty. The amount of the penalty depends on how long you have been staking for.

-There is always a risk that the Crypto.com app could go out of business or be hacked, in which case you would lose your deposit. This is true for all crypto staking products, not just Crypto.com.

Conclusion

The Crypto.com App offers a convenient way to stake your crypto assets and earn rewards. In this article, we have outlined the steps required to get started. We hope that this guide has been helpful and that you will consider using the Crypto.com App to stake your crypto assets.

FAQ

##Q: How do I stake on Crypto.com App?
A: First, you need to have an eligible account with at least the minimum amount required for the staking product you want to purchase. You can then go to the “Buy & Sell” page, select the “Stake” tab, and choose the staking product you want to buy. Follow the instructions on the screen to complete your purchase.

References

1) Crypto.com App – How to Stake Crypto? [internet]. Available from: https://medium.com/@cryptocomapp/crypto-com-app-how-to-stake-crypto-a399fc0b8f6e [cited 18/04/2021].

2) How to Stake CRO on Crypto.com App? [internet]. Available from: https://support.crypto.com/hc/en-us/articles/360050099731 [cited 18/04/2021].

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