In select markets, the Crypto.com App now offers on-chain staking, which it recently announced. Users may get rewards while actively supporting the project they back through on-chain staking.
On-chain Staking Explained
By locking up their tokens and aiding in network security via staking, individuals may take part in a specific Proof of Stake (PoS) network. Typically, stakers join staking pools managed by validators, who aid in transaction verification and network addition. They are rewarded with freshly created tokens in exchange. After subtracting their costs, validators may then proportionately distribute the rewards to stakeholders.
Advantages of on-chain Staking in the App
Users may easily put idle assets to work and earn rewards daily by staking in the app. Furthermore, as Crypto.com is free of lockup time, consumers may benefit from the freedom of staking or unstaking their holdings. This launch will support the Polkadot (DOT), Solana (SOL), and Ethereum (ETH) blockchains, with other protocols to follow.
How to start on-chain staking?
To start staking in the app, follow a few simple steps. For a comprehensive step-by-step manual, go to the FAQ.
In the majority of countries worldwide, users may access on-chain staking using the Crypto.com App (see the FAQ for additional details). For more information, one can also check the Help Center.