What happens to my crypto assets when I stake them?

3 answers

• Dec 18, 2021 · 3 years ago
  When you stake your crypto assets, you are essentially locking them up in a smart contract to support the operations of a blockchain network. By doing so, you contribute to the network's security and consensus mechanism. In return, you earn rewards in the form of additional cryptocurrency tokens. These rewards are typically distributed proportionally based on the amount of assets you have staked. Staking can be a great way to earn passive income while actively participating in the cryptocurrency ecosystem.
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• Dec 18, 2021 · 3 years ago
  Staking your crypto assets is like lending them to the blockchain network. The network uses your assets to validate transactions and secure the network. In return, you receive rewards for your contribution. The specific rewards and terms vary depending on the blockchain network you are staking on. It's important to do your research and understand the risks and potential rewards before staking your assets.
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• Dec 18, 2021 · 3 years ago
  When you stake your crypto assets, you delegate them to a validator node on the blockchain network. The validator node then uses your assets to participate in the consensus process and secure the network. In return, you earn staking rewards. At BYDFi, we offer staking services that allow you to stake your assets and earn rewards. Our platform ensures the security and reliability of the staking process, making it a convenient option for crypto asset holders.
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