Staking is a method of securing a blockchain network by validating transactions through “locking” tokens from the user’s balance.
The longer your tokens are locked, the more likely you will be selected to validate a transaction and receive the block rewards for doing so.
What Does Staking Mean In Crypto.com?
Crypto.com Staking means earning rewards by keeping up a balance in your Crypto.com Exchange wallet. This exchange wallet is quite different from your regular App wallet.
It is a process of engaging your crypto investments to support and confirm transactions made on the Crypto.com exchange platform. Note that this staking is functional with cryptocurrencies that operate with the proof-of-stake model to process every payment.
Crypto.com Staking Rewards
With tokens, such as BTC, LTC, and ETH, It delivers more flexibility by rewarding you according to your day-to-day wallet balances with no commitment duration. In contrast, more bonuses apply to those actively staking on the CRO.
Also Read: What is Crypto.com Earn and How does Crypto.com Work?
How Is Crypto.com Staking Different From CRO Staking?
“CRO Staking” is seriously different from Crypto.com staking as it expects you to stake a minimum amount of 10,000 CRO for a given period of 6 months on Crypto.com Exchange, and the staked CRO can not be relinquished until the proposed 6 months is complete.
But the good thing is both beginners, and advanced users of the Exchange have an advantage over this feature, excluding those from and residents in Hong Kong SAR, Malta, and Switzerland.
Crypto.com Staking Requirements
The staking prerequisite for Crypto.com is fixed in USD rather than CRO. The money to be staked must be kept for six months, and once a cardmember withdraws their staked CRO, the advantages of each tier will be lessened.
But to keep these bonuses and benefits, users have to maintain CRO staking beyond the initial six-month staking interval.
Can You Stake On Crypto.com?
Yes, you can participate in Crypto.com staking!. To receive your daily earnings, you will need to sign up.
Also Read: Crypto.com Supercharger Explained
How To Stake Crypto On Crypto.com?
Steps to Stake Crypto on Crypto.com:
Step 1: Sign in to your Crypto.com Exchange account as a beginner or advanced user.
Step 2: Go to the screen where “Stake & Earn” is displayed; Tap “Staking.”
Step 3: To Sign-up, change the toggle button to on.
Step 4: Accept the Terms & Conditions by reviewing the checkbox, then proceed.
Step 5: You are right there! Please ensure your balance is substantial or equal to the basic holding amount, then keep looking to see your earnings accumulate!
You can see your day-to-day earnings on the “Stake & Earn” page under your Earning History.
If you do not want to continue the staking process, you can opt out.
How To Opt-Out From Staking In Crypto.com?
Steps to Opt-Out from Staking in Crypto.com:
Step 1: Sign in to your Crypto.com Exchange account as a beginner or advanced user.
Step 2: Go to the screen where “Stake & Earn” is displayed; Tap “Staking.”
Step 3: To opt-out, change the toggle button to off.
Step 4: A prompt message to opt-out will appear on your screen; click “Confirm to cancel.”
Step 5: You have been successfully opted out of the staking.
Also Read: How to Upgrade Crypto.com Card?
How Can I Calculate My Crypto.com Staking, And When Will I See My Interest?
For Example:
We will calculate a day-to-day reward of currency users hold at 22:00:00 UTC each day.
Your Day-to-day interest is calculated with this formula below:
Day-to-day Interest = Remaining Balance x (APR/365)
Note: Your interest will be allocated to your token’s remaining balance within one hour after 00:00:00 UTC since you have signed in and your balance is more significant than or equals the minimum threshold.
You make money staking your Crypto assets; The exchange platform makes its own money also. Have you wondered how?
Here’s How They Make Their Penny:
In USD or other fiat money, you’ll get a fee based on the coin you stake. You can earn interest through the Crypto.com app; just enter your Bitcoin wallet address and hit “start earning”. The Crypto.com app will tell you how much your staked currency was worth at the time of payout.
Is Crypto.com Worth Staking?
Yes! Crypto.com staking is always worth it. The real benefit of staking your Crypto is to earn more crypto, and interest percentages can be huge.
Sometimes you can get more than 10% or 20% in a year. It’s often a very productive way to invest your money.
People who use a crypto platform that is not belonging to the U.S. Ultimately see Crypto.com as impressive.
Still, those who would never stick themselves with any U.S. company will want to look around for another Exchange platform.
This keeps U.S users dissatisfied as they will not have the access to the platform of Crypto.com Exchange.
Also Read: How Does Crypto.com Work?
Is Crypto.com Staking Secure?
There are a few associated risks with Crypto staking, and this risk owes to unstable Crypto prices. If there’s a price drop, your staked Crypto assets will suffer a critical price drop, too, as that could take precedence over any profit you earn on them.
But the case is not the same for Crypto.com staking because it is not a derivative. The interest you are given through Crypto.com Staking is not associated or affected by external conditions, such as price change or the exchange rates of another cryptocurrency.
Conclusion
Crypto.com is a cryptocurrency exchange platform that funds over 90 currencies, disburses interest on customers’ crypto stake, as well as rewards customers with smart cards
