Look for low-risk crypto investment? Earn passive income by the step-by-step how to stake $BLT and $FLOW.
Welcome to Bloctopia!
Is crypto staking worth it? How does it work?
For many crypto investors, crypto staking is a way to generate stable rewards over the long term. Akin to an interest-bearing bank account, you set aside (“stake”) part of your holdings to a consensus node in a blockchain protocol to earn a percentage-rate reward over time. In addition to generating returns, the benefits of crypto staking involve:
- Staked tokens help maintain the efficiency of the supported protocol and facilitate the stability of tokenomics.
- Compared to crypto mining, which requires miners to run computer devices to earn token rewards, staking provides a much easier way to maximize your holdings.
- Staking is more eco-friendly since energy-intensive mining processes are not requisite.
Is crypto staking safe?
Crypto staking is a safer investment avenue. Strategies like leverage trading have massive popularity among investors as well, but significant risks come with lavish rewards. While leverage trading in cryptocurrencies allows you to multiply your earnings by borrowing capital and taking a bigger equity position, it amplifies your losses if the crypto price drops massively in the highly volatile crypto market.
To take a safer path in crypto investment, it is highly recommended that novice investors searching for the best crypto to stake and the best place to stake crypto start with an established cryptocurrency on a trusted crypto exchange. Staking an established cryptocurrency supported by a reliable crypto provider assures your staked tokens are in safe hands, and you receive a decent APY (annual percentage yield) to boost your holdings.
How to begin crypto staking?
Via the crypto exchange built in Blocto App, you earn stable yields by staking your tokens via mobile phone. Blocto App provides you with the specially designed interface for staking $BLT—a well-established crypto with a sustainable ecosystem. Staking $FLOW on the Blocto consensus node is another low-risk option, which only requires a 4.8% staking fee for the crypto committed (For other staking platforms, it is usually 8%). Staking on Blocto App comes with an auto-restaking feature, and you could opt out at any time, claiming your $BLT 1 week after you unstake and $FLOW 2 weeks after you unstake.
All you need to become an eligible staker is to hold $BLT. It’s just as simple as that! (Currently, only $BLT on the Flow blockchain is available for staking, so check your Blocto wallet to ensure your $BLT to stake is under the “Flow FT” protocol). Both locked and unlocked BLT tokens are eligible for staking. Reward tokens are paid in circulated $BLT (which means your BLT reward tokens are unlocked and liquid) at the end of each epoch of approximately 1 week, so you can transfer and trade them at any time. BLT holders could opt-in to restake the rewards or simply turn on auto-restake to automatically restake your rewards once you receive them.
💡 Please notice that staking BLTs and locking BLTs are two different concepts: 1. Locked $BLT refers to the $BLT you purchased from community sales or auctions not transferable during a vesting period. 2. Staked $BLT refers to the $BLT staked on a blockchain node, which can be locked or unlocked.
Staking rewards take up to 5% of the total BLT tokenomics. A total 25,000,000 BLT staking payout will be distributed within 2 years. Since BLTs also function as Blocto’s governance tokens, staking BLTs earns you the qualification to become a member of BloctoDAO—a member-owned autonomous organization—and have a say in the decision-making of the future upgrades of Blocto!
Without further ado, let’s see how to stake your BLT tokens!
Get Started: Stake $BLT in 3 simple steps
Step 1: Make sure you have added or transferred some of your $BLT to the Flow blockchain in Blocto App. Go to “Wallet” at the bottom & Click the “+” icon in the upper right corner to add BLT (Flow FT).
Teleport (aka transfer) your $BLT on the other blockchains to the Flow chain.
Check out our Step-by-step $BLT teleport guide for more details.
Step 2: Once you have your $BLT (Flow FT) in your wallet, go to “Discover” at the bottom of the home page, and click on “Blocto Token Staking” to stake the $BLT you have on the Blocto node.
Step 3: If you want to auto-restake your reward tokens, simply turn on the “Auto-restake” function. (Note that this feature is only available for custodial mode wallet users.)
Scroll down to find the estimated APY of the current epoch, which depends on each epoch’s staked amount.
Staking $FLOW on the Blocto node works the same as staking $BLT. You will find the FLOW staking page looks akin to the BLT staking page, equipped with all the same features. The only difference is that $FLOW operates on a biweekly staking cycle, which means reward Flow tokens are distributed at the end of every epoch lasting 2 weeks. Both locked and circulated FLOWs are eligible for staking. And you could turn on “Auto-restake” to restake the reward tokens to compound your holdings.
Step 1: Make sure you have some $FLOW in your Blocto App. Go to “Wallet” at the bottom & Click the “+” icon in the upper right corner to add FLOW.
Step 2: Once you have added or transferred $FLOW to your wallet, go to “Discover” at the bottom of the home page, and click on “Flow Staking” to stake the $FLOW you have on the Blocto consensus node.
Step 3: Decide if you want to auto-restake your reward tokens. Note that this feature is only available for custodial mode wallet users. Scroll down to find the estimated APY of the current epoch.