Can someone please explain staking

Question

172 viewsOctober 14, 2024Education

Binura lanka Thilakeratne 649 October 14, 2024

0 Comments

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

0

2 Answers

You are viewing 1 out of 2 answers, click here to view all answers.

Gihan Wijethunga 845 · 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