Staking Crypto on Exodus

[Mika]

In general terms, Staking Crypto means earning rewards on your cryptocurrencies. In a technical term, Staking Crypto means putting your cryptos to work through a consensus mechanism called Proof of Stake.

Not all cryptocurrencies are available for staking. You can stake only those cryptocurrencies that allow staking. For instance, you cannot stake Bitcoin, but you can stake ETH 2.0.

Exodus is one of the most secured wallets available in the market. It is available as a Desktop Wallet as well as Smartphone Wallet. Exodus is considered secured because the wallet does not store your asset information of keys, they are stored in blockchain and are accessible only to you.

Exodus offers staking option on various cryptos such as

Algorand: ALGO staking has been phased out but you can use Governance Rewards

Cardano: You don’t have to lock your ADA during the staking period

Cosmos: You will have to lock your ATOM, but you can unlock it anytime you want and use your asset

Ontology: Just like ATOM, you will have to lock your ONT while staking, but you can unlock it any time.

Solana: You can stake SOL and earn passive income on your assets. You can use your SOL even during the staking program

Tezos: You have two options, either to lock your XTZ or unlock during the staking period.

VeChain: VET does not require you to lock your assets.

 

[Jasmine]

I have Exodus account, I created account on this platform in order to hold my crypto asset for a long term, for example, holding crypto for 5-10 years. When I discovered the staking feature, I put my assets for staking and I earned some profits. However, I have a problem with exodus. This is not the platform for short term use because you cannot sell or trade through the platform, you cannot withdraw your cryptos as fiat currency if you decide to convert to real money. They allow you sending to other crypto wallets, though. These days I do not have any asset on Exodus.