Hedera Hashgraph has launched native staking, a new way for you to earn more HBAR, but how do you enable Hedera’s native staking on Yamgo?
What is “staking,” and what is my incentive to do it?
Staking is a way for Crypto holders to earn passive income from the crypto assets in their account.
There are a lot of the cryptocurrencies and networks in the Crypto world which allow their users to stake their currency such as ETH, SOL and LUNA in exchange for rewards, and now native staking is coming to Hedera.
Yamgo has released several new updates that enable you to stake your Hedera account to a network node in order to earn staking rewards based on the HBAR in your account.
If you want to learn more about what staking is, read our blog here!
How do I get rewarded for staking with Yamgo?
To earn your staking rewards through Yamgo, all you have to do is select a node which you have decided is best to stake on and every day when you claim your daily Boost or earn a reward with Yamgo you’ll get your staking rewards! If you’re wondering what exactly staking is with Hedera Hashgraph, read our blog on what native staking is with Hedera Hashgraph!
How to enable Proxy staking with Yamgo?
Staking with Yamgo is incredibly simple. All you need is a Yamgo account and any amount of HBAR (which you can earn right here on Yamgo just for signing up), choose a node and input your private keys to update your staking information and then you’re all set up and staking! To earn your staking rewards through Yamgo, all you have to do is select your node and claim your daily boost or earn a reward and you will get your staking rewards!! If you’re wondering what the best nodes are to stake with, read our blog on how to decide which node is best for you here! Yamgo supports Hedera staking and we are actively working on keeping our app the best to stake with!
Step One: Go to yamgo.com and create your account or log in
Step Two: When logged into your Yamgo account, click on Network on the left hand tab.
Step Three: After you are on the Network page, click on “Please select an operation” which will open a drop down menu.
Step Four: Select “Stake to a Node”
Step Five: Select the node you wish to stake to and enter your private key (ensure that you have selected “Yes, I would like to OPT IN to staking rewards” on this screen), then you’ve successfully staked your HBAR to a node!
* Network staking rewards are not fixed and will change daily – they can go up or down based on the activity on the Hedera network and the performance of the node you are staked to.