Everything you need to know about Staking crypto in 2021

Staking cryptocurrencies is something you might have read about online, but you have absolutely no idea where- or how to start staking crypto? This is a great site to find out!

On FYD staking wiki you learn what staking crypto is, what the definition of staking is, and you can also find a simple explainer video about staking crypto. To learn more about staking crypto, scroll down or open the staking legend.

Staking legend

What is staking?

Simple answer: Staking is the process of earning- or minting cryptocurrency by validating transactions on a blockchain.

Users are only allowed to mint cryptocurrency, when they have an active balance of the desired crypto. The more cryptocoins held, the higher the chance of receiving a blockreward.

Definition of staking crypto

Locking up cryptocoins in a proof-of-stake blockchain for a certain period of time. These locked (staked) coins function as collateral and are used to achieve consensus, which is required to secure a decentralized cryptocurrency network.

Proof-of-Stake cryptocurrencies such as FYDcoin use significantly less energy for maintaining a secure network than Proof-of-Work blockchains such as Bitcoin.