NuFi: Stake Cryptocurrencies and earn rewards

Stake to Earn

What is Staking?

  • Proof of Stake (PoS) blockchains use staked crypto to determine who will verify and add new transactions to the next block. This is called block mining.
  • The crypto used in block mining belongs to crypto holders worldwide who have staked their crypto using a wallet like NuFi. By staking, you make your crypto available to the blockchain, enabling it to work safely.
  • While your crypto is staked and used in block mining, it earns rewards for helping out. It’s like depositing cash into a savings account and earning interest from a bank.

How does it work?

  • A validator is where you stake your crypto. The validator uses your staked crypto to mine new blocks on your behalf.
  • Validators compete to mine each new block. The more crypto a validator has staked, the more collective power it has, and the more likely it is to be chosen.
  • The chosen validator is rewarded by the blockchain and the reward is shared between the validator and the people whose crypto was used in the process.
  • Staking ensures that the blockchain operates in a secure and decentralised way.
Stake Cardano (ADA) and Solana (SOL) from NuFi Wallet

What are the benefits?

How do I start staking?

  • Create a staking account from the ‘My Staking’ tab within the NuFi wallet, stake your crypto with a validator and then wait to collect rewards.
  • Each blockchain runs on its own production schedule and may require a ‘warm up’ period before you start receiving rewards. After that, you’ll receive rewards directly into your account every epoch (a fixed period of time which regulates how often rewards are recorded, calculated, and paid).
  • Some blockchains require a small refundable deposit when you first create a staking account.

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A non-custodial crypto wealth management platform for PoS blockchains and digital assets @cardano @solana

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NuFi

NuFi

A non-custodial crypto wealth management platform for PoS blockchains and digital assets @cardano @solana

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