KriptoEarn puts your crypto to work earning rewards while you’re offline, asleep, or busy at the office.
What is KriptoEarn?
Staking but simple
It’s the simplest way to do direct on-chain staking all from your Kriptomat wallet.
A secure solution
On-chain staking means your assets are stored securely on the blockchain you choose.
Great rewards
It’s the smart way to grow your crypto portfolio instead of letting assets sit idle in your wallet.
What is “On-chain” staking?
Staking is the process of transferring your cryptocurrency temporarily to a separate wallet to support a blockchain’s security and transaction verification processes. It sounds complicated – and it can be! – but at Kriptomat we handle all the details on your behalf. In return, you earn rewards in the form of additional cryptocurrency. It's like earning interest on a savings account.
Staking not only provides a great way to earn rewards but also helps promote a more decentralized and secure blockchain ecosystem. By participating in staking, you can help support your favorite blockchain network and earn rewards while doing so.
What are benefits of “On-Chain” staking compared to the commercial way of Crypto staking?
On-chain staking, also known as decentralized staking, involves holding cryptocurrency tokens on a blockchain network and using them to validate transactions and earn rewards. Commercial staking, on the other hand, involves staking your cryptocurrency with a third-party service provider who manages the staking process for you.
Here are some benefits of on-chain staking compared to commercial staking:
Decentralization: On-chain staking is more decentralized as it involves direct participation in the blockchain network.
Control: With on-chain staking, you have complete control over your cryptocurrency tokens and can manage them yourself. You can decide when to stake, unstake, or transfer your tokens.
Transparency: On-chain staking is more transparent as you can view the entire staking process on the blockchain network. This increases trust and reduces the risk of fraud or manipulation.
Rewards: On-chain staking typically offers higher rewards than commercial staking, as there are no intermediaries involved. This means you can earn more by staking directly on the blockchain network.
Can I withdraw my staked crypto at any time?
Staking crypto is a promise to the blockchain that your assets can be used during staking period. This lockup period and the rewards you earn are in place to promote long-term commitment and stability within the network by incentivizing users to keep their tokens staked for a set period. (The length of the lockup period varies. We always disclose it before you commit to staking assets.)
During this period, you are unable to withdraw staked assets from the blockchain you are supporting. So you should be sure that you won’t need access to that crypto for the duration of the lockup period.
Why does it take longer time to unstake my assets?
The time it takes to unstake from on-chain staking can vary depending on the specific blockchain network and protocol being used. There are several reasons why unstaking from on-chain staking may take longer compared to other transactions on the blockchain:
Protocol Design: Some blockchain networks have specific protocols in place that require a longer unstaking period as a security measure. This is done to prevent malicious actors from attempting to manipulate the network or perform double spending attacks. The unstaking period is designed to provide a window for the network to detect and prevent any potential fraudulent activities.
Consensus Mechanisms: The consensus mechanism used by the blockchain network can also impact the unstaking time. For example, Proof of Stake (PoS) networks typically have a bonding or locking period during which the staked tokens are locked and cannot be immediately unstaked.
Network Congestion: Like any other transaction on a blockchain network, unstaking transactions can be delayed if the network is congested with a high volume of transactions. This can result in longer wait times for unstaking transactions to be confirmed and processed.
Does Kriptomat charge any fees for staking your assets?
No.
Kriptomat has 0 fees for staking, however, there is a nominal fee that is charged by the Network used for staking.
This fee is clearly presented to you at the time of staking your assets before you confirm the action.
The fee covers the network cost of depositing or withdrawing assets to KriptoEarn.
How long does it take for my assets to get successfully staked on the Blockchain?
It can take from a few moments to a few weeks, depending on the external conditions related to the responsible Blockchain.
The factors that are influencing the time needed to stake successfully are network congestion, the processing speed of the Blockchain, the Network Consensus Mechanism, Minimum Staking Periods, and several other factors.
Where are my rewards placed once I get them?
After every reward distribution, your reward is added to your KriptoEarn balance and merged with the deposited balance.
This way you are generating compounding interest*.
* Compound interest is interest that is calculated not only on the initial amount staked but also on any accumulated interest/rewards.
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Do you still have any questions? Use the support chat to contact our support team or send us an email [email protected]