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How to Stake Cronos (CRO) and Earn Rewards Using Trust Wallet
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Published on: Jul 28, 2023
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In Brief
Learn how to earn rewards for staking Cronos CRO using Trust Wallet. This step-by-step guide will show you how to stake, unstake, and claim rewards.
Trust Wallet, available as a mobile app and Chrome Extension, is a simple-to-use, self-custody crypto wallet and gateway to Web3 for people who want to fully own, control, and leverage the power of their digital assets. Trust Wallet allows you to store and manage your crypto and NFTs, buy, sell, and stake crypto to earn rewards, access dApps securely and much more—all in one place. Additionally, features like the Trust Wallet Security Scanner help to keep your entire Web3 experience safe.
In this guide, we’ll focus on the staking feature, and specifically how to stake CRO.
Key details for staking CRO using Trust Wallet
Minimum amount required for staking: 0.00000001 CRO
Lockup period for staking: 28 days
Staking yield (APR): Please see rates listed in the ‘Earn’ section of the Trust Wallet app.
Trust Wallet does not control the minimum amount, lockup period, or staking rate.
What is staking?
Staking is a method of supporting a proof-of-stake (PoS) or a delegated proof-of-stake (dPoS) blockchain network by holding and "staking" a specific cryptocurrency. This activity contributes to various functions within the network such as transaction validation, upholding the network's security, and refreshing the blockchain. In return for their staking commitment, participants can earn staking returns, somewhat like earning interest in a traditional banking system.
What is Cronos (CRO)?
Cronos (CRO) is the native token of the Crypto.com Chain, a decentralized, open-source blockchain developed by the Crypto.com cryptocurrency platform. Launched in 2018, Cronos aims to disrupt traditional payment systems by enabling transactions between users and businesses to occur on the blockchain, offering increased transaction speeds and lower fees. The CRO token is used for transaction fees, staking, and participating in the network's DeFi activities. CRO holders participate in the network's unique governance model and can stake their tokens to secure the network and earn rewards.
Before you stake CRO using Trust Wallet
Before we dive into how to stake CRO using Trust Wallet, you’ll need to create a wallet if you don’t already have one. Trust Wallet is available as a mobile app or you can get the Trust Wallet Extension for your desktop web browser. In this example, we’ll set up a new wallet using the Trust Wallet Mobile App.
Step 1: Download the latest version of the Trust Wallet App.
Step 2: Set up your new wallet
Open the Trust Wallet app, and choose the option to ‘Create a new wallet.’
Select an option to back up your wallet.
Go through the instructions to start using your wallet.
See AlsoHow to use Trust Wallet in 2023
Tip: If you already have a wallet that’s not Trust Wallet, you can choose to import that wallet. In this case, you’d choose the “I already have a wallet” option.
Step 3: Ensure you have CRO in your wallet
You’ll need CRO in your Trust Wallet before you stake it, so use the appropriate instructions below to get CRO into your wallet.
Use these instructions to deposit CRO into your wallet.
How to stake CRO using Trust Wallet
To stake CRO, do the following:
Select the “Earn” button from the main wallet page.
Select “CRO Cronos”.
Select “Stake”.
Choose the amount you want to stake and choose the validator you want to use by selecting the Validator dropdown.
Once you choose a validator, then select “Continue”.
Follow the remaining instructions to confirm your stake.
Frequently asked questions about staking CRO using Trust Wallet
How much do you earn staking CRO?
Staking rates may vary depending on the network, and the rate is not set or controlled by Trust Wallet. You can check the current rate anytime from within the app.
Note: Validators and delegators help secure the network through staking and will sometimes charge a commission for their services. This is neither controlled by Trust Wallet nor does Trust Wallet take any proportion of this commission.
What is the minimum amount to stake CRO?
The minimum stake amount is 0.00000001 CRO.
What is the lockup period when I stake CRO?
The lockup period is 28 days.
Can I use my CRO while they are staked?
No, you won’t be able to use your tokens while they are staked/locked. Before you use your CRO tokens, you’ll need to unstake them.
How do I unstake CRO on Trust Wallet?
To unstake CRO, do the following:
Go to ‘Earn’ from the main wallet page, and choose CRO.
Then choose Unstake and follow the instructions to confirm the unstaking process.
Note: You will not be able to withdraw your tokens while they are staked. If you want to withdraw your CRO, staked CRO takes 28 days to unstake. This is not something Trust Wallet controls.
How do I claim my rewards?
Go to ‘Earn’ from the main wallet page, and choose CRO.
Select the option to claim rewards and follow the instructions.
What is the best wallet to stake CRO?
Many people wonder where the best place to stake CRO is. Trust Wallet is a great option because it allows you not only to stake your CRO to earn rewards directly with the protocol, but you can also claim your earned crypto directly within the wallet and store it safely.
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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.
