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.

Staking is basically lending your crypto to the network to help it run smoothly. In return, you earn rewards (more crypto).

Key points:

• It’s like earning interest, but with crypto
• You’re helping validate transactions on the network
• Rewards are usually higher than traditional savings accounts
• Some coins let you unstake anytime, others have lock-up periods
• It’s not risk-free – crypto prices can still drop

For your specific coins:

• ETH: Can be staked for ETH 2.0
• HBAR: Uses proxy staking to nodes
• XRP: Doesn’t use traditional staking, but some exchanges offer “staking-like” rewards

Your Ledger can be used for staking some coins, which is often safer than leaving them on an exchange.

Remember, always research the specific staking rules for each coin. While it’s a great way to earn passive crypto, make sure you understand the terms and potential risks involved.