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Want to make your crypto work for you? Bybit offers on-chain yield opportunities that let you earn passive income by staking your crypto. In this easy-to-follow guide, we’ll show you how to stake your crypto and start earning on Bybit. Let’s dive in!
What is On-Chain Yield?
On-chain yield is the interest you earn by staking your crypto directly on the blockchain. Bybit allows you to stake different cryptocurrencies and earn rewards. It’s a way to grow your holdings without needing to trade.
Step-by-Step Guide to Earning On-Chain Yield on Bybit
1. Create or Log In to Your Bybit Account
- Go to the Bybit website and log in. If you don’t have an account, sign up quickly to get started.
2. Deposit Crypto Into Your Bybit Account
- If you don’t already have crypto in your Bybit account, deposit some. Go to “Assets” > “Deposit,” select the crypto you want to deposit, and follow the instructions.
3. Go to the “Earn” Section
- Once your crypto is in your account, head over to the “Earn” tab. This is where you’ll find staking and yield products.
4. Choose a Crypto to Stake
- Bybit offers a variety of cryptocurrencies you can stake. Choose the one you want to stake, like ETH, BTC, or USDT.
5. Select Your Staking Option
- Bybit provides flexible or fixed staking options. Flexible staking lets you withdraw anytime, while fixed staking locks your crypto for a set period, usually offering higher yields.
6. Enter the Amount You Want to Stake
- Select the amount of crypto you want to stake. You can stake all your funds or just a portion.
7. Confirm Your Staking Details
- Double-check your staking details and confirm your choice. After that, your crypto will start earning rewards.
8. Monitor Your Rewards
- After staking, you can track your rewards in the “Earn” section. Bybit makes it easy to see how much you’ve earned and when you can withdraw.
Why Stake Your Crypto on Bybit?
- Passive Income: Earn yield just by holding and staking your crypto.
- Flexibility: Choose between flexible or fixed staking based on your needs.
- Security: Bybit offers a secure platform for your staking activities.
- Variety: Stake multiple cryptocurrencies and earn rewards.
Staking crypto on Bybit is a simple and effective way to earn passive income. Whether you prefer flexibility or higher yields through fixed staking, Bybit’s platform makes it easy. Start staking today and let your crypto work for you!