For those who are new in the crypto world, we can grow our digital asset by staking them. This works for blockchains that uses Proof of Stake method to appoint block producers that confirms or validates transactions. By voting for them, they will share their earnings with you.
In the case of TRON, firstly you have to purchase TRON in order to stake them. TRON can be purchased in whichever exchange that you prefer. Example Binance.
- https://www.binance.com/: Supported pairs are TRX/BTC, TRX/ETH, TRX/USDT
Open an account in any of the exchanges and do your document verification or KYC ( Know Your Customer) process. You can buy TRX using fiat or other cryptocurrencies. However in order to get reward by staking, the TRX need to be kept in wallets such as in http://tronscan.org
The guide below shows how to open a wallet in Tronscan.
Click sign in and then click on import a wallet.
Click on Create Wallet
Choose your own strong password and click NEXT
Download the encrypted key file and click NEXT.
Save your private key and print the paper wallet. The paper wallet contains the private key and public address. File it safely.
Your wallet is ready. Click on account page.
Transfer TRON from exchannge to your new wallet public address. Once you have TRON in your wallet, you need to get TRON power by freezing yout TRON. Scroll down until you see the picture below. Freeze the amount of TRON as you wish.
You need to wait for a while until the transaction is recorded in the blockchain. Check at the TRON POWER to confirm you have voting power.
Once you have tron power, you can cast your vote to any of the block producers that you wish.
Click on TRON SR and then on VOTES.
Click " Click here to Start Voting". You can choose 1 SR or many. It is your choice.
You can read about each of them and their rewarding scheme here. https://www.tokengoodies.com/
Check the next day to see how much TRON that you have got. Some SR do payout on weekly basis.
