NuFi: Stake Cryptocurrencies and earn rewards

Stake to Earn

What is Staking?

Staking is a way to earn regular passive income by letting the blockchain use your crypto for important tasks.

  • 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?

On PoS blockchains, the job of mining new blocks is awarded to something called a validator.

  • 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?

While staking, you collect rewards periodically in the form of the crypto you stake. Rewards are paid directly into your account and, on most blockchains, are re-staked automatically.

How do I start staking?

It takes less than a minute to 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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NuFi | Self-custody Cardano, Solana & Flow wallet

NuFi | Self-custody Cardano, Solana & Flow wallet

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A self-custody crypto wallet supporting Cardano, Solana and Flow blockchains. Store, stake, trade and connect to dApps like NFT marketplaces, DEXes and more.