How to Stake Assets Using the MetaMask Wallet Staking?

Comments · 140 Views

Hey Crypto Traders! Are you interested in earning along with securely storing your coins? Well! Something is always better than nothing!

When you purchase the assets, you won’t get any benefits until you sell them with profit so why not try something that can let you earn by holding the assets? 

There is no magic, a staking service offered by the MetaMask Wallet allows you to do so. It asks you to hold your assets for a specific period of time on the network and in return, you’ll get rewarded with high interest rates in the form of crypto assets.

Are you wondering, why you are getting paid for doing nothing? The answer to your quest is that it may seem like you are doing nothing but your assets are playing a significant role in the meantime. Yes! By holding your assets, you provide liquidity to the Ethereum network by letting the network use your assets to create blocks. And, in this way, you contribute to the security of the Ethereum network, and the whole process is known as staking.

Want to know, how to stake your assets deposited on the MetaMask Wallet to earn rewards? Don’t worry, we will drive the complete process home, but before that have a look at the staking-supported tokens.

What could be staked at the MetaMask Wallet?

Till now, MetaMask has been allowing the Ethereum Mainnet-based tokens to stake on it, here is the list of where they can be staked:

  • You can stake the ETH tokens by using the Lido protocol or Rocket Pool Protocol.
  • MATIC token is not available for staking to users who are not US residents. It can be staked through Lido protocol or Stader Labs protocols.

How can we stake ETH-based tokens on MetaMask?

Before beginning, you need to make sure a couple of things such that your MetaMask Wallet should be unlocked and you must have purchased ETH tokens in your wallet. After that, you can navigate through the steps outlined below to stake on MetaMask Wallet.

  1. First of all, visit your MetaMask Portfolio and look for the “Stake” tab there.
  2. Tap on it and now you will be redirected to the staking page of the MetaMask Wallet.
  3. Pick up either “MATIC” or “ETH” as per your choice and go through the prompted available offers.
  4. After this, look for your preferred staking provider and select it.
  5. Input the amount you wish to stake on the next page and press “Review”.
  6. Go through the prompted staking details and if all seems fine, press “Confirm”.

You will get a note on the screen saying “Transaction Completed” and now you’ve staked your coins successfully; you can see the details by pressing the “View Holdings” tab prompted there.

The Sum Up!

In all, MetaMask Wallet allows its users to earn by staking their purchased tokens and is incentivized them with a high-interest return. The process of staking your ETH or MATIC coins is easy as pie through the MetaMask Wallet. All you need is to walk through the entire process thoroughly by keeping every detail in mind and complete your stake just in a couple of steps. I hope this write-up will guide you through every step in your staking voyage and will help you in earning by holding your assets. Good Luck to your staking venture.