Cryptocurrency trading comes with a lot of opportunities for traders to maximize their earnings. Not all crypto trading platforms and wallets allow users to utilize the opportunity to earn passive income, but most of them take care of all your crypto trading needs. One such crypto wallet that helps you earn a potential passive income is Trust Wallet. Yes, that’s true when we walk about using Trust Wallet for earning crypto rewards.
So, let me ask you a question first. Do you know what are you actually going to do to earn that passive income? Well, you’ll get that opportunity only through the “Staking” option. And you’ll be glad to know that Trust Extension has not introduced an “In-extension Staking” option for their users. So, if you have a Trust Wallet extension on your browser, staking crypto assets would no longer be a hurdle for you.
Thus, in this article, we are going to introduce you to diverse staking features that are available on the platform through its extension. So, without wasting any time, let us now take a closer look at some of the important topics related to staking on this wallet.
Introduction to Trust Wallet
Well, it is a non-custodial crypto wallet that is available in the form of a mobile application and a browser extension for Chrome. This wallet is pretty easy to use and allows you to enter the Web3 world with complete ease. Using this wallet means that you are the one who completely owns your crypto assets. On this wallet, you cannot only store crypto assets but you may also be able to trade NFTs and stake crypto assets for earning staking rewards. Not only that, with this wallet, you will also get access to the dApps pretty securely. However, this guide will focus only on the “Staking” part of the wallet. So, let’s begin.
What do you mean by staking?
If you are new to the world of crypto and you are coming across this term for the first time, then you must understand that it is a way through which one can support a Proof-of-Stake network by “staking” a crypto asset. By supporting PoS, you are contributing to various functions of the network including validation of transactions, increasing the security of the network, and promoting or refreshing the blockchain. Once a user gives into staking, he is provided with staking rewards so that he can earn staking rewards. It is similar to holding your funds in a bank and getting interest for the same.
Staking options available on Trust Wallet
There are different “Staking” options available under the “In-extension Staking” option on the trust wallet login. There is a wide range of staking coins providing different and unique rewards to traders. Here is the list of coins available for staking:
- Terra Staking Coin (LUNA)
- Injective Staking Coin (INJ)
- Solana (SOL)
- BNB Beacon Chain (BNB)
- Kusama (KSN)
- Polkadot (DOT)
- Tron (TRX)
- Osmosis Staking Coin (OSMO)
- Cronos (CRO) Evmos Staking Coin (EVMOS)
- Stargaze Staking Coin (STARS)
- Cosmos Staking Coin (ATOM)
- Kava Staking Coin (KAVA)
- Stride Staking Coin (STRD)
However, before you can “stake” your assets on the Trust Wallet extension, you need to set up a wallet for yourself. If you haven’t done that, check out the details given in the section to follow.
Getting started with the Trust Wallet extension
For the purpose of staking assets and earning interest on your crypto holdings, you first need to set up a new wallet for yourself. But, to set up your wallet, you first need to install the Trust extension on your browser. Here are the steps you can follow for the same:
- Go to the official Trust Wallet website- Trust wallet
- Choose the “Download” option on the main page
- Then, select the “Download for Chrome” option
- Now, follow a few more steps to add the extension
- Then, open the Trust Wallet extension and select the option to create a wallet
- Create your Trust Wallet login password and backup the Secret Recovery Phrase
- Following this, ensure that you have the token that you wish to stake from your wallet
Steps to stake crypto through Trust Wallet extension
Now is the time you can start the staking process on the trust chrome extension. If you are ready with your wallet and the asset that you wish to stake, then you can apply the steps listed below to complete the staking process. Here are the steps you must follow:
- Begin the process by opening the wallet extension
- Now, use your Trust Wallet login credentials to access your wallet
- Then, choose the “Earn” option to proceed further
- Following this, select the “Native Staking” option and choose the token you’d want to stake
- Now, enter a random amount that you wish to stake or choose a custom amount
- Finally, select the “Stake now” option and follow a few more prompts to end the process
After you have completed this process, your cryptos will be held for the chosen time period and you’ll be able to earn staking rewards till the end of that period.
Conclusion:
The given article talks about staking and earning rewards through the Trust Chrome extension present on your web browser. If you have some crypto assets with you, you must put them to work so that they can ultimately prove to be beneficial for you. Hence, if you were curious to know about “Staking,” I hope this article gave you a clear understanding of the same.
Published in Other
