How does staking on Steakwallet work?

Last updated on May 5, 2022

Stake within 3 taps

Staking has historically been a major pain for users. Current staking methods have many drawbacks:

  • The staking process is complex.
  • Staking different assets require different processes.
  • Using centralized staking solutions means forgoing full custody over one’s assets.

The self-custodial Steakwallet makes multi-chain staking extremely easy and fast. The complexity of staking is abstracted away and translated to 3 simple taps on your mobile device. It has never been easier to stake your tokens with the help of Steakwallet 🥩 !

How it works

Steakwallet provides staking service for tokens under 16 major networks. In addition, we are continuing to integrate more chains to provide users with wider options for staking and managing their assets.

To stake an asset, simply select the token of choice input the amount you want to stake and tap confirm to delegate your cryptocurrency to the staking node. If the node successfully creates a block, the validator receives a reward and shares this reward with the delegator.

Some chains require delegators to claim rewards manually, while others automatically add the reward to your staked balance.

Learn about staking on specific networks through our staking guides.

 

 
This web page (including the articles contained herein), is for informational purposes only. Please do not construe any such information or other material contained on this web page as legal, tax, investment, financial, or other advice. This web page and the information contained herein is not a recommendation or endorsement of any digital asset, protocol, network, or project. However, Steakwallet (including its affiliates and/or employees) may have, or may in the future have, a significant financial interest in, and may receive compensation for services related to, one or more of the digital assets, protocols, networks, entities, projects, and/or ventures discussed herein.
The risk of loss in cryptocurrency, including staking, can be substantial and nothing herein is intended to be a guarantee against the possibility of loss. This web page and the content contained herein are based on information which is believed to be reliable and has been obtained from sources believed to be reliable, but steakwallet makes no representation or warranty, express or implied, as to the fairness, accuracy, adequacy, reasonableness, or completeness of such information. Steakwallet cannot be responsible, in any way whatsoever, for your use of the information contained in or linked from this web page. Do not rely upon any information found on blog.steakwallet.fi or support.steakwallet.fi without independent verification.
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