How to Stake CRO on Crypto.com: A Beginner's Guide
Are you looking to earn passive income through staking crypto? Crypto.com offers a convenient and reliable way to stake CRO, its native cryptocurrency. Staking CRO allows you to earn rewards while supporting the network's operations. In this step-by-step guide, we will walk you through the process of staking CRO on Crypto.com.
Step 1: Sign up on Crypto.com
To get started, visit the Crypto.com website and sign up for an account. The registration process is simple and requires some basic personal information.
Step 2: Complete the KYC Verification
After signing up, it is essential to complete the KYC (Know Your Customer) verification process. This step is necessary to comply with regulatory requirements and ensure the security of your account.
Step 3: Get Some CRO
To start staking CRO, you need to acquire some first. You can purchase CRO from various cryptocurrency exchanges or earn it through promotions and referrals on Crypto.com.
Step 4: Transfer CRO to Crypto.com Wallet
Next, you need to transfer your CRO to your Crypto.com wallet. If you have purchased CRO from an external exchange, initiate a withdrawal to your Crypto.com wallet address.
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Step 5: Launch the Crypto.com App
After your CRO is safely in your Crypto.com wallet, download and launch the Crypto.com app on your preferred device. Log in using your account credentials.
Step 6: Navigate to the Earn Section
Within the Crypto.com app, navigate to the 'Earn' section, typically located in the bottom menu. Here, you will find various options for staking and earning rewards.
Among the available staking options, select the one that suits your preferences and risk tolerance. Crypto.com offers flexible staking periods, ranging from 1 to 3 months or longer.
Specify the amount of CRO you wish to stake. Ensure that you have enough funds in your Crypto.com wallet to cover the staking amount.
Review the details of your staking transaction and confirm. Once confirmed, your CRO will be locked for the chosen staking duration, and you will start earning rewards accordingly.
Regularly check the Crypto.com app to monitor your staked CRO and rewards. You can choose to withdraw your rewards or restake them for compounded earnings.
Congratulations! You have successfully staked CRO on Crypto.com. By staking CRO, you not only contribute to the network but also earn passive income. Remember to conduct thorough research and make informed decisions before staking any cryptocurrency.