What is staking?
Staking is a feature unique to blockchain, allowing you to earn interest on your crypto by locking up your holdings. It’s similar to holding funds in a savings account. The more you stake, and the longer you do so, the more you’ll earn in interest. Staking is a vital part of supporting the network, so rewards are provided to incentivize users.
How does staking work?Staking is a mandatory part of blockchain networks running the Proof-of-Stake (PoS) consensus method. PoS relies on individuals becoming validators by staking tokens. Those who stake the most tokens become validators and are given voting rights for governance on the network. Validators are essential for confirming transactions on a PoS network.
The benefits of stakingYou can earn interest on your staked cryptocurrency while also supporting the networks you care about. Staking ensures better network security, transparency, and more.
Where does the interest come from?At Belco, we utilize staked funds to grow our network. We pay rewards out at a 20% annual percentage yield. Minimum hold requirements are just one day, but users must lock in their assets for 21 days to earn.
How to stake CATM?
- First off, install our mobile app from the App Store or Google Play, and create an account with your phone number.
- Deposit a cryptocurrency supported by our app. As of now, we support the top 10 market coins, alongside our own asset, the Crypto ATM Coin (CATM). We currently support:
- Bitcoin Cash
- Binance Coin
- To start staking, head to “Swap” under the Deals tab, and exchange the deposited amount to CATM.
- Then, head to “Staking” under the same tab and stake your preferred amount of coins.
- You can cancel a stake that’s older than one day, but after 21 days, the funds are frozen.
- After the hold period is complete, you can withdraw your stake plus any rewards.