How To Stake Crypto On Coinspot For Passive Income
How To Stake Cryptos On Coinspot For Passive Income #shorts
Staking is here!
Staking is an easy way for CoinSpot members to grow their holdings while also participating in the consensus and governance of your favorite blockchains.
Staking involves holding your Proof of Stake (PoS) coins in a Staking wallet supplied by CoinSpot. After a certain period of time, you will receive staking rewards depending on the number of coins you have placed in your staking wallet and the amount of time they have been there. Simply put, staking is locking up some of your PoS coins in order to receive rewards.
Here is a step by step explanation of how to Stake on CoinSpot:
1. First, select the wallet page on the top of your Dashboard:
2. Navigate to the Coin you wish to Stake and open the wallet up
3. Select the staking option on the left-hand side, then enter the amount of coin you wish to stake, then hit the ‘Stake’ button:
4. Once you click the ‘Stake’ button the confirmation screen will appear. Review the details here carefully before selecting ‘Confirm’
5. Congratulations! You have just Staked some of your ADA!
You can see your approximate payout amount, the rate of return, and more information on the staking page of your wallet.
Looking to stake other coins? No problem! Here is a list of all the coins on CoinSpot available for staking:
Cardano (ADA)
Verasity (VRA)
Polkadot (DOT)
Algorand (ALGO)
Fantom (FTM)
Solana (SOL)
Enjoy the video! Stay safe everyone.
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