How to Stake Crypto Coins Using the Bybit App

If you’ve earned some crypto and aren’t ready to cash it out, why let it sit idle in your wallet? Instead, consider staking it to earn passive income. Staking is a smart way to put your crypto to work, allowing it to grow while you hold onto it.

Platforms like Bybit make this easy by offering staking options with attractive Annual Percentage Yields (APY). Before diving in, though, make sure your Bybit wallet is funded– you can check here to see how to do it.

Steps to Stake Your Crypto Using Bybit

Step 1. Open the Bybit App

Launch the Bybit app on your device and navigate to the homepage.

Step 2. Access the Earn Tab

On the homepage, tap the "Earn" tab at the bottom of the screen.

Step 3. Search for the Crypto to Stake

In the Earn section, enter the coin you want to stake in the search bar at the top. A list of cryptocurrencies available for staking will appear. Select the one you wish to stake.

Some cryptocurrencies offer two staking plans: Flexible and Fixed, while others may have only one option. Flexible Staking allows you to redeem your tokens at any time while Fixed Staking locks your tokens for a specified period, offering potentially higher returns but with limited access to your funds during the lock-up period.

Step 4. Review Terms and Enter the Stake Amount

After selecting the staking plan, review the terms and conditions. Once you understand and agree to the terms, enter the amount of crypto you want to stake. Tick the box to confirm you’ve read and agreed to the terms.

Step 5. Start Staking

Tap the "Stake" button. Your crypto will be locked immediately and start to accrue returns based on the chosen staking plan.

Conclusion

Staking your crypto on Bybit is an excellent way to make your assets work for you by generating passive income. With it, you can grow your crypto holdings over time.

More importantly, always review the terms and conditions of each staking option to make informed decisions.