Can someone please explain staking

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99 viewsOctober 14, 2024Education

Binura lanka Thilakeratne 530 October 14, 2024

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Im new to crypto and am invested in a couple different coins, Hbar, Eth, and Xrp. I just bought a ledger and see all this stuff about staking my crypto. What does it mean? If I stake can I still take it out whenever I want? Is it like a CD?

Thanks in advance

Gihan Wijethunga Answered question October 14, 2024

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Gihan Wijethunga 694 · Answer 1 · 2024-10-14T16:36:37+00:00

For certain cryptocurrencies (like ETH), staking involves “locking up” your coins to help secure the network and validate transactions.

In return for participating, you earn additional coins as rewards.

Gihan Wijethunga Answered question October 14, 2024