Looking to maximize your crypto holdings? This article will discuss how to stake Cronos (CRO), the cryptocurrency that powers the Crypto.com blockchain. Developed by Crypto.com, CRO aims to accelerate the adoption of cryptocurrency globally. Staking your CRO allows you to earn rewards and contribute to the network\'s security. One popular way to stake your CRO is through Crypto.com. Let\'s explore how.
How to Stake CRO on Crypto.com
Crypto.com offers several avenues for staking your CRO. The most common and beneficial options often involve their Earn program and staking directly on the Crypto.com Exchange or DeFi Wallet.
Staking CRO through Crypto.com Earn
Crypto.com Earn is a cryptocurrency staking solution in which users can simply stake cryptocurrency or make use of CRO, Crypto.com’s native token, to enjoy attractive interest rates. The exact rates depend on several factors, including the amount of CRO you stake, the duration of the staking period, and your Crypto.com Visa card tier.
Here’s a general overview of how to stake CRO in Crypto.com Earn:
- Create a Crypto.com Account: If you don\'t already have one, sign up for a Crypto.com account and complete the necessary KYC (Know Your Customer) verification.
- Purchase or Deposit CRO: Buy CRO directly on the Crypto.com app or deposit CRO from an external wallet.
- Navigate to Crypto.com Earn: In the app, find the "Earn" section.
- Select CRO: Choose CRO from the list of available cryptocurrencies.
- Choose Your Staking Term: Select your preferred staking term (flexible, 1 month, or 3 months). Longer terms typically offer higher interest rates.
- Enter the Amount of CRO to Stake: Specify the amount of CRO you want to stake.
- Confirm Your Stake: Review the details and confirm your staking agreement.
Staking CRO on the Crypto.com Exchange
If you\'re using the Crypto.com Exchange, you might have access to staking options that are different from the Earn program. The exchange often offers staking promotions or different locking periods. Always check the terms and conditions associated with these offerings.
Staking CRO on the Crypto.com DeFi Wallet
For users who prefer a non-custodial solution, the Crypto.com DeFi Wallet allows you to delegate your CRO to validators on the Cronos chain. This gives you more control over your staked CRO and allows you to participate in the network\'s governance.
How do I start earning and stake my CRO on Crypto.com Onchain? Please note that every time when you increase your stake with the same validator, your reward balance will be increased accordingly. This means you can incrementally add to your staked amount.
CRO is the native token of the Crypto.com Main-net which uses a delegate-proof-of-stake (DPoS) consensus protocol. By delegating your tokens to trusted validators you contribute to the network\'s security and earn rewards. Research and choose validators carefully, as their performance will impact your earnings.
Important Considerations Before Staking CRO:
- Lock-up periods: Be aware of the lock-up periods associated with each staking option. You might not be able to access your CRO until the staking period ends.
- Minimum staking amounts: Some options require a minimum amount of CRO to be staked.
- Validator selection (DeFi Wallet): Choose reliable and reputable validators to maximize your rewards and minimize the risk of slashing (loss of staked tokens due to validator misconduct).
- Rewards distribution: Understand how and when rewards are distributed.
- CRO Price Volatility: Keep in mind that the value of CRO can fluctuate, impacting the overall value of your staked assets.
Staking CRO on Crypto.com offers a way to earn rewards while supporting the Crypto.com ecosystem. By carefully considering your options and understanding the risks involved, you can make an informed decision about how to stake your CRO.