Are you looking to stake BNB on Trust Wallet?
Staking coins such as BNB gives you decision power on the network.
It also gives you the ability to vote and generate passive income.
This is similar to receiving interest for holding money in a bank account.
Staking coins mitigates the need for you to purchase expensive hardware.
In addition, staking provides guaranteed returns and predictable income.
On Trust Wallet, you can stake multiple coins such as BNB, TRX, XTZ, ATOM, and more.
In this guide, you’ll learn how to stake and unstake BNB on Trust Wallet.
How to stake BNB on Trust Wallet
To stake BNB on Trust Wallet, you need to navigate to your BNB wallet.
On your BNB wallet, you’ll see a “More” icon that contains multiple options such as staking.
Then, you’re required to enter the number of BNB that you want to stake.
If you don’t have BNB yet, you can buy it from Binance and transfer it to Trust Wallet.
Buying BNB on Binance is highly recommended as the fees are very low.
If you were to buy BNB on Trust Wallet, you’ll be using a third-party provider which has very high fees (up to 5%).
Once you’ve entered the number of BNB that you want to stake, you’ll land on the confirmation screen.
The confirmation screen indicates how much BNB you are staking as well as the network fees.
Here’s how you can stake BNB on Trust Wallet:
1. Navigate to BNB
Firstly, open Trust Wallet and navigate to the wallet page.
On the wallet page, you’ll see a list of coins including “Bitcoin”, “Ethereum”, “BNB”, and “Smart Chain”.
Tap on “BNB” to go to your BNB wallet.
If you haven’t bought BNB yet, you can buy it from Binance.
If you don’t have a Binance account, you can use this referral link to create one: https://www.binance.com/en/register?ref=73583477 or use “73583477” as the referral code.
Then, transfer your BNB to your BNB wallet on Trust Wallet.
After you’ve tapped on BNB, you’ll land on your BNB wallet.
On your BNB wallet, you’ll see your BNB balance.
You’ll also see four icons under your balance including “Send”, “Receive”, “Copy”, and “More”.
Tap on the “More” icon to open other options.
2. Choose the BNB Amount
After you’ve tapped on the “More” icon, a navigation menu will open.
The navigation menu contains several options including “Stake Details”, “Stake”, “Unstake”, and more.
The “Stake Details” option allows you to see your staking rewards.
On the other hand, the “Stake” option allows you to stake your BNB.
Since you haven’t staked your BNB yet, tap on “Stake”.
After you’ve tapped on “Stake”, you’ll land on the “Stake BNB” page.
On the “Stake BNB” page, you’ll see a “BNB Amount” field and a “Validator” field.
On the “BNB Amount” field, enter the amount of BNB that you want to stake.
By tapping on the “Validator” field, you’ll see a list of validators.
Each validator provides a different staking reward.
By default, the “TW Staking” validator will be selected.
If you’re okay with this, tap on “Next” to proceed to the last step.
3. Confirm stake
After you’ve tapped on “Next”, you’ll land on the confirmation page.
On the confirmation page, you’ll see where is your BNB from and the validator that you’ve selected.
You’ll also see the network fee and the total number of BNB that you’re staking.
Tap on “Send” to complete the staking process.
If successful, you’ll be able to see a stake transaction on your BNB wallet.
You’ve successfully learned how to stake BNB on Trust Wallet!
How to unstake BNB on Trust Wallet
To unstake BNB on Trust Wallet, you need to navigate to your BNB Wallet and tap on the “More” icon.
Then, tap on “Unstake” to unstake your BNB.
Once the unstaking process starts, it will take 7 days for your BNB to be available.
In addition, you won’t receive any staking rewards.
1. Navigate to BNB
The first step is to navigate to your BNB wallet on Trust Wallet.
Firstly, open Trust Wallet and navigate to the wallet page.
On the wallet page, tap on “BNB”.
2. Tap on “More”
After you’ve tapped on “BNB”, you’ll land on your BNB wallet.
On your BNB wallet, you’ll see multiple icons.
Tap on the “More” icon to open more options.
3. Tap on “Unstake”
After you’ve tapped on the “More” icon, a navigation menu will open.
Tap on “Unstake” to unstake your BNB on Trust Wallet.
Next, enter the amount of BNB that you want to unstake.
Then, tap on “Next” to go to the confirmation screen.
Review the transaction and tap on “Send” to complete the unstaking process.
After you’ve completed the unstaking process, you’ll be able to see the transaction on your BNB wallet.
Tap on it to show the transaction details.
To check the unstaking status, tap on “More” on your BNB wallet followed by “Stake details”.
You’ve successfully learned how to unstake your BNB on Trust Wallet!
Conclusion
Staking is a great way to earn interest rates on your coins such as BNB.
You can earn up to 130% APR on Trust Wallet.
However, there are risks involved when you’re staking.
When you stake a coin, it’ll be locked and you won’t be able to move or trade it.
Price volatility is common as well, and due to a loss of liquidity, the token might decrease in price.
Lastly, the reward distribution can be delayed depending on the validator.
Before you stake a coin on Trust Wallet, it’s best to do your own due diligence first to avoid uncertainty.
Further reading
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