As rightly said, cryptocurrencies definitely open the gateway to earning passive income and benefits. But, do you have an idea about the ways through which you can get those benefits? Well, if you are a new investor in the field of cryptocurrency trading, you would only know buying and selling crypto is going to be beneficial for you.
But, let me tell you that there are definitely some other ways through which this is possible. Well, if you are someone who has the slightest idea about cryptocurrency trading, then you would definitely understand what I am talking about. And, earning rewards will be extremely easy if you do it through the Guarda wallet.
Yes, in this document, I am going to share some essential pieces of information that you would want to know if you are also planning to stake your crypto assets.
What is cryptocurrency staking?
When it comes to staking, it can be associated with different terms. However, if we specifically talk about staking in terms of cryptocurrency, it has a different meaning altogether. To put it short, we can say that when you put your crypto at stake to a stake pool, you are supposed to get rewarded in relation to the delegated amount which in turn helps you earn great passive income. And this article is all about stalking your crypto assets through the Guarda wallet.
Now, you must be wondering how staking is beneficial for both parties. Well, it should be noted that, by staking your crypto assets, you are allowing the platform to generate resources and then stabilize its network.
Specifically talking about staking ADA (Cardano), whenever you delegate this coin, it does not get frozen which is truly in contrast to other crypto coins. Hence, if you own a Guarda wallet, you should definitely try your luck in this field.
Steps to stake ADA through Guarda wallet
When it comes to staking crypto assets through this wallet, the process is extremely simple. And you know what the best part is? When you are done staking your assets, you can re-delegate them or send your assets to another staking pool as and when needed. So, if you wish to put your crypto assets at stake and do not want them to get frozen, then you can follow the method that is explained below:
- The first step that you need to take is open the Guarda wallet
- Then, sign into it (if you have been logged out)
- After this, navigate to the wallet balance page
- And then, select the "Stake" option
- If you want, you can select the validator of your preference
- This can be done by navigating to the "Advanced options" tab
- Choose the amount of ADA for staking and select "Confirm"
- Now, you are done and will be earning rewards soon
Note: You cannot stake less than 10 ADA at the moment.
Take a look at the steps to claim rewards
Now that you have staked your crypto rewards, you might be looking forward to earning the rewards or claiming the earned rewards. If that is the case, here is the method through which this can be done:
- Again, sign in to your Guarda wallet
- Now, it is time to navigate to the "Receive" tab
- Followed by this, select the "Staking" option present on the left
- On your left, select the "Claim" option
- As soon as you complete the process, you will receive the reward at the end of each epoch
If you are using a Guarda wallet or let's say are using any other wallet, then you might want to use it on your mobile devices as well. Well, this can be easily done by using the WalletConnect platform. If you wish to know more about this wallet, please make a visit to their official platform and you'll get to know how beneficial it could be for you in the long run. By using the WalletConnect protocol, you will be able to connect to the decentralized applications easily.
To sum it up:
No matter whether you hold a small number of crypto assets or a huge amount, it is strongly recommended that you put your holdings at stake so that they can earn you great crypto rewards. Specifically talking about the long-stored crypto assets in your Guarda wallet, the platform gives you a great opportunity to stake ADA (Cardano) through your wallet.