Staking in crypto is typically when you lock-up or allocate some of your crypto holdings to a stake pool that generates yield from trading volume or staking rewards unique to a particular asset. Usually, "locking" funds across these different DeFi protocols can be overwhelming and difficult to track!
Edge has made it easy for our users to access yield bearing products in the crypto space with a touch of a button. We will also be adding more functionality and support for this Earn feature in Edge, so you'll be able to grow your holdings and earn even more with your crypto savings. The risks involved with staking are often minimal, involving "smart contract risk," however these smart contracts are already well battled-tested before they make it into our app.
At this time, not all assets are supported for staking. Edge currently has staking available for BTC, ETH, USDC, USDT, BNB, BCH, DOGE, LTC, ATOM, and AVAX thanks to our integration with THORChain Savers Vaults. FIO and FTM have their own, independent staking protocols that can also be conveniently accessed in the same way with the Earn button.
How To Stake:
Log into your Edge account, tap "View Assets," and the tap into any of the different wallets in your account. If you see forth operational button titled simply: Earn - tap this to access any staking product available for the asset.
How To Unstake:
Simply go back into the same wallet that you staked from in your assets list. Once you've tapped into it, tap the Earn button, and you will be able to review your staking position and find where to unstake.
PLEASE be aware of on-chain fees! In order to use these smart contracts for staking, you must broadcast a transaction with your intent to stake or unstake funds on the blockchain. You may need to top of the unstaked balance in your wallet in order to "unlock" your funds.
Comments
3 comments
The article was a little helpful but still didn't address the issue.
Hello Harry,
What is missing? If you need assistance please contact our support team at support@edge.app.
I need a $50 loan will pay back next weekend
Please sign in to leave a comment.