Staking at Bitvavo: All about crypto staking at Bitvavo!

Would you like to earn more crypto coins and want to know more about Bitvavo staking now? Staking crypto coins is an easy way to increase your holdings of crypto coins. Also at Bitvavo, it is possible to staking crypto coins the easy way. Read below to find out exactly what staking is and how the Bitvavo staking works.

crypto staking at Bitvavo

What is staking and how does it work?

On an online trading platform such as Bitvavo, you can buy and sell various crypto currencies. If you want to trade crypto currencies at Bitvavo, you first need to create an account. You will then receive a Bitvavo wallet, which is a kind of online wallet where you keep your crypto coins. Staking at Bitvavo is actually nothing more than locking coins in your wallet, which means you don’t trade them but hold them on the network.

By staking a coin, you are actually making your coins available to the relevant blockchain to verify transactions. For staking your coins, you receive a reward, which can be compared to the interest you receive on your savings account. The great thing about Bitvavo staking is that the crypto coins you have pinned remain in your possession, so you can use them again when they are released. 

advantages and disadvantages of crypto staking at Bitvavo

What are the advantages and disadvantages of crypto staking at Bitvavo?

There are several ways how you can make money with the crypto coins you have in your Bitvavo wallet. You can trade in them, you can start mining coins or you can staking your coins. The big advantage of staking with Bitvavo is that it is very easy way to earn more crypto coins. You don’t need to know too much about complicated trading strategies, and you don’t need super-fast computers like you do for coin mining. It is a fun, fairly simple way to make extra money with your crypto coins that you may not be doing anything with, and at the same time, you are helping the blockchain network if you hold your coins for a while.

Actually, there are no real disadvantages to staking. It can be annoying when you have just fixed your coins and the price rises which might make you want to sell, or that the price falls during the fixing which might make the return disappointing. Also, the reward differs per coin. For example, some coins offer a high reward, but the coin is actually only used to support the network. Therefore, it may not be of much use to you because the applicability is not so great. Therefore, before you buy a coin, first look at what it brings you.

How can you stake crypto coins at Bitvavo?

Staking at Bitvavo is very easy to do through the Bitvavo staking service. You can start staking as soon as you have a few crypto coins in your wallet. At Bitvavo, there are off-chain and on-chain staking services to choose from.

With off-chain staking services, you can make money with crypto coins in your Bitvavo account by making them available to the network. Alternatively, you can choose on-chain staking services, where you get the opportunity to actively contribute to the approval of transactions on a proof-of-stake blockchain. This is similar to mining crypto and is a little more complicated than locking your coins. On these proof-of-stake blockchains, anyone with a certain minimum amount of a digital currency can validate transactions. You can then receive a reward for validating.

If you also want to participate in Bitvavo staking, all you have to do is enable the opt-in function of the on-chain and off-chain staking service in the dashboard. When you use the staking service, you remain the owner of the digital currency you deploy. That means you can end the staking whenever you want and withdraw your digital currency. There are also no extra costs involved when you want to use Bitvavo’s staking services.

Eneble staking at Bitvavo
Enabling staking at Bitvavo

If you also want to participate in Bitvavo’s staking, all you have to do is enable the opt-in function of the on-chain and off-chain staking service in the dashboard.

Click on your name in the dashboard -> Click on Settings -> Scroll all the way down -> Click on Enable under Staking.

When you use the staking service, you remain the owner of the digital currency you wager. That means you can end the staking and withdraw your digital currency whenever you want. There are also no extra costs involved when you want to use Bitvavo’s staking services.

You can staking with Bitvavo using the coins listed below:

Crypto valutaGeschatte opbrengsten (%) 
Bitcoin  BTC~0.77%
Cardano  ADA~5.00%
ICON  ICX~7.50%
Ark  ARK~1.07%
Bitcoin Cash  BCH~1.02%
Chainlink  LINK~0.49%
Dai  DAI~6.10%
Ethereum  ETH~1.01%
Litecoin  LTC~1.04%
NEO  NEO~0.52%
Ontology  ONT~0.51%
Tether  USDT~6.10%
Tezos  XTZ~0.66%
Tron  TRX~1.03%
USD Coin  USDC~6.10%
VeChain Thor  VET~0.49%
Waves  WAVES~5.50%

How do the rewards work?

The reward you get at Bitvavo for staking your crypto is calculated based on the following two points:

  1. In your account, each coin shows the reward percentage you will receive when you lock the coin. This is not a fixed percentage, with some digital currencies it varies from moment to moment. This is because for some coins, the reward percentage depends on the number of people who participate in the staking process. This is for example the case with Tezos (XTZ).
  2. The amount and value of the supported crypto currency you have in your Bitvavo account also determines the size of your reward. Bitvavo measures the amount and value of the coin you have in your account every day and calculates the final reward amount.

What happens to the crypto coins you put in a staking service?

When you lock crypto coins into a staking service, they remain in your possession at all times. So you cannot lose them, just like with a regular savings account. The only thing that can happen is that the value of the coin drops, just like the Euro can become worth less.

If you participate in Bitvavo staking, you can choose at any time to stop the staking and sell the coin, exchange it for another crypto currency or send it to an external wallet. You can also easily unsubscribe from the staking program in your dashboard if you don’t want to participate anymore. You will not receive any more rewards until you sign up again.

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