Staking. The only way to kill a vampire.
Just kidding! Staking is where you lock up your crypto to earn interest on those funds.
Staking using Phantom wallet is easy! I believe in Solana long term and don’t plan on selling any time soon, so if you think the same, you should find a validator on Phantom that you like to stake your SOL and earn some interest.
Do some research before you pick one, I used stakeview.app to look at % APY returns, see if there are fees, and to read a little about each validator. I’ve already earned some SOL by staking and it's only been 10 days.
To stake SOL, open up the Phantom wallet mobile app or browser extension, click on the Solana in your wallet, and then there should be an option under your balance to stake. Once you click on that it will take you to a list of validators. Choose one and how much to stake, and that’s it! If you want to unstake, it will take a few days for your funds to free up but it’s as simple as clicking “unstake”.
I wrote another article about my thoughts on Solana NFTs HERE if you are interested in NFTs.
Happy earning friends!
Are you staking any cryptocurrencies? Let me know in the comments!
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