1.3M+
Users worldwide
12h
Reward payout frequency
~10.09%
Current highest APY
Simply put, staking is the process of locking up crypto for a set period of time in order to contribute to the security of the blockchain. You earn rewards in return.
Only Proof-Of-Stake (PoS) cryptocurrencies can be staked.
There is no waiting period to unstake with our Staking service, we have simplified the process to provide more flexibility for you.
Staking can be complex and costly - especially for beginners or those with limited resources. Through our service, you can easily participate in staking with just a small amount of crypto, and without having to run your own nodes.
FAQs
GOT A QUESTION?
What is crypto staking and what does it mean?
When a cryptocurrency uses Proof-of-Stake (PoS), that means it relies on a method known as staking rather than mining for its “consensus mechanism”, which is the way the blockchain network ensures all transactions are verified and secured.
Staking is the process of locking up an amount of crypto for a specified period of time in order to contribute to the security of the blockchain. The blockchain puts the “staked” crypto to work and generates rewards in return. Only Proof-Of-Stake (PoS) cryptocurrencies can be staked.
Crypto staking is when you allocate your assets to supporting the blockchain network — the tokens are used to verify transactions via a PoS consensus.
Is staking safe? What are the risks involved?
Some of the risks associated with crypto staking are:
What crypto can you stake on Bake?
Currently, you can use our service to stake Ethereum, Polygon, Polkadot, Sui, Solana, and DeFiChain. We’ll be adding more tokens in the near future. So, stay tuned.
Can I unstake or take out my staked assets instantly?
Yes, unstaking can be done anytime and processed instantly for most assets on Bake, with the exception of Polkadot (DOT) staking that takes 5 days for unstaking.
What are the fees for staking on Bake?
The APY shown is net of all fees. This means the APY on display is the percentage yield that you will get. Bake’s commission for Staking service is 10-15% of the rewards generated. There are no unstaking fees.
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