Crypto trade is simply not about buying and selling digital assets. Several operations are associated with digital assets, apart from the simple exchange. One of the most simple operations of all is Staking.
In layman’s language, we all know what staking refers to in the crypto world. To define, when the investors opt for locking some of the digital assets for a selected time duration, with the objective to secure and witness their digital funds growing is known as “Staking”. There are several staking options available in the market, but today we are going to study Tron(TRX) staking.
This read comprises everything from the scrap to the end. Just walk through the complete read to get detailed information about it.
Tron(TRX) staking- What’s that?
Tron is one of the leading cryptocurrencies available in the market to date. TRX is a crypto token that empowers the Tron network and is majorly engaged with trading, staking, delegating, paying transaction fees, and many other activities relating to the crypto trade.
Staking is all about putting the eligible assets to work for a certain period. In return for locking the funds into the stake, the investors are provided with staking rewards. This activity does carry risk but requires the active participation of the user.
Tron(TRX) staking is a simplified and the most secure way of building crypto funds. Under staking, the investors choose to freeze a certain portion of their funds to earn rewards via them. This can be done in several ways, some of which are, staking via a centralized exchange, delegating directly to the validator, running your validator node, and liquid staking Tron.
By staking the Tron, you will be able to gain “Bandwidth” or “Energy”. Not only this, but you will also be able to get votes which are used to earn potential Trx staking rewards. When staking, the investors can earn voting and validation rewards. However, the validator they voted for fails to become the super validator, in that case, only voting rewards are provided.
Detailed steps for Tron staking Ledger
Here, we are going to check the detailed steps required for staking TRX on Ledger Live. The complete process is parted into two:
Adding a Tron account
Putting Tron to stake
The steps involved in adding the Tron account are:
On your Ledger device, get the latest version of the Tron app installed
Navigate to the “Accounts” page and then click on “Add Account” to add an account
Funds some TRX in your account
The remaining process relates to putting the assets to stake. There is no need for TRX staking sign up. Go through the below-listed steps to know how to freeze Tron.
Navigate to the Account page of the Tron and hit on “Earn Rewards”
After going through the information window, tap on Continue” to proceed with the staking process
Make a choice between the Bandwidth or Energy
Mention the amount of TRX you want to put for staking
Bang on “Continue”
Verify the staking operation to confirm it on your Ledger device
Done!! With this, the Tron staking operation is confirmed
After performing all the listed steps, you can step ahead and tap on the “Vote” option as well. By doing this, you will get benefitted from rewards. However, this step is optional. If you don’t wish to vote then you can choose the “Vote Later” option.
Overall, Tron staking doesn’t put your assets at risk. The reason is that it doesn’t use Slashing. Slashing is a mechanism, which is generally used by blockchains that often put the staked assets at risk. However, avoiding slashing doesn’t claim that all of your staked assets are safe and free from risk.
How to get paid for staking Tron?
To earn staking rewards, users have to simply put their assets to work. Investors can opt for any of the certain duration for which they wish to freeze their assets. In exchange for putting the assets to work for a certain time, the investors gain staking rewards.
How many Tron can I earn staking 15k?
This is not fixed. As we know, the crypto market is highly volatile, thus, it becomes quite hard to suspect anything in advance. Depending on the market fluctuations, and the price movements happening at that time, you can make predictions relating to this.