Crypto staking has emerged as one of the most popular methods of earning yield from digital asset holdings.
There are lots of takes on the concept, but in broad terms staking means being given a reward for storing your cryptoassets on a given platform.
Not all platforms offer this option, but it has become increasingly widespread as more stakeholders see the benefits of having an incentive for users to store their assets on a blockchain.
For Qredo, staking is one of the many ways that we offer value for participating in the network.
So can you stake on Qredo? And what is crypto staking?
Let’s take a look.
In its simplest form, crypto staking is the process of locking your assets into a particular blockchain or network in return for a percentage yield.
That yield varies from chain to chain, and can be paid daily, monthly, quarterly, yearly or in whatever time frame and amount is set by the network.
Some chains, such as Bitcoin, don’t offer a staking option as this was not a feature built into the network from its conception.
But the concept is widely used throughout the Ethereum Virtual Machine, and is a key attraction for investors wanting to earn a return on crypto which may otherwise sit idly in wallets.
So, why do you earn a yield for staking crypto?
In some cases it is at the discretion of those managing the projects.
In others, it’s because your crypto becomes part of the computational process which secures the information contained on the chain.
There’s no such thing as a free lunch as people say, so when you are staking your crypto, you are providing value to the network, which is why you receive yield in return.
We have a number of staking programs currently active for QRDO holders offering the opportunity for market-leading yields.
And the best bit is if you hold QRDO in a Qredo wallet, it all happens automatically.
We introduced our current auto-staking bonus programs in July, which offers you the opportunity to earn a total of almost 18% APY (Annual Percentage Yield) reward until December 31 2022.
The new auto-staking bonus programs run over two time periods:
Stake your QRDO from July 1 to September 30, 2022 and earn an additional 5.05% APY
3 month cumulative staking equivalent 15.15% APY
The staking bonus will be paid out as single payment at the end of the three month period on October 1
Stake your QRDO from July 1 to December 31, 2022 and earn an additional 5.05% APY
6 month cumulative staking equivalent 17.675% APY
The staking bonus will be paid out as single payment at the end of the six month period on January 1
The new bonus programs are valid for both new and existing deposits, and are earned alongside the existing weekly auto-staking of 10.1% APY.
To receive the bonuses, simply hold QRDO in a Qredo Wallet for the above periods. No other action is required.
Not yet holding your QRDO in a Qredo wallet?
Open a Qredo Wallet today, deposit your QRDO, and start earning your bonus.