How to stake crypto on Bybit?

What Is Staking and Why Do It on Bybit?

Staking cryptocurrency involves locking up digital assets to support the operations of a blockchain network, typically in return for rewards. By participating in staking, users contribute to network security and transaction validation while earning passive income. Bybit, one of the leading global cryptocurrency exchanges, offers a user-friendly platform for staking various crypto assets. The process is straightforward, secure, and accessible even for beginners. Before diving into how to stake crypto on Bybit, it's important to understand the types of staking available, such as Proof-of-Stake (PoS) and Delegated Proof-of-Stake (DPoS), and which coins are supported.

Supported Coins and Staking Options

Bybit supports staking for a wide range of cryptocurrencies, including ETH (Ethereum), ATOM (Cosmos), DOT (Polkadot), SOL (Solana), ADA (Cardano), and many others. Each coin may have different staking durations, minimum amounts, and reward structures. It’s crucial to review the specific terms before committing funds. Some coins offer flexible staking with no lock-up period, while others require fixed-term commitments for higher yields. Users can find the full list of staking options within the Bybit Earn section.

Setting Up Your Bybit Account for Staking

Before you can begin staking, ensure your Bybit account is fully set up and verified.

• Complete KYC verification to access all features.
• Enable two-factor authentication (2FA) using Google Authenticator or SMS for enhanced security.
• Ensure your wallet contains the cryptocurrency you wish to stake.

If you don’t already own the desired asset, you can purchase it directly through Bybit’s spot trading interface. Once your account is ready, navigate to the Earn tab located at the top of the Bybit homepage. This section serves as the central hub for staking, savings, and other yield-generating activities.

Navigating the Bybit Staking Interface

Once inside the Earn section, locate the Staking tab. Here, you’ll see a list of available cryptocurrencies along with their annual percentage yield (APY), lock-up periods, and minimum staking requirements. Clicking on a particular asset will open its staking details. For example, staking ETH on Bybit often requires a minimum of 0.1 ETH, and the APY varies depending on network conditions and demand. Always double-check the estimated daily or weekly rewards before proceeding.

Steps to Stake Crypto on Bybit

To initiate the staking process:

• Select the cryptocurrency you want to stake.
• Enter the amount you wish to commit.
• Review the lock-up duration and estimated returns.
• Confirm the transaction by clicking the Stake button.

After confirmation, your assets will be moved from your spot wallet to your staking balance. You can monitor your staked positions under the Staking Records section. Rewards are typically distributed daily or weekly, depending on the asset. If the staking option is flexible, you may unstake at any time without penalty. However, for fixed-term staking, early withdrawal might result in loss of accrued rewards.

Tracking Staking Rewards and Unstaking

Once your crypto is staked, tracking rewards becomes essential.

• Visit the Earn dashboard regularly to view daily earnings and total accumulated rewards.
• Some assets allow automatic compounding, where earned tokens are automatically re-staked to maximize returns.
• To unstake, go to Staking Records, select the asset, and click Unstake.

Be aware that unstaking may take several hours to complete, especially for networks with longer confirmation times like Ethereum. After unstaking, the principal and any unlocked rewards will return to your spot wallet, where they can be withdrawn or traded.

Frequently Asked Questions

Q: Is there a fee for staking on Bybit?A: Bybit does not charge direct fees for staking. However, some networks may impose small transaction fees when transferring assets between wallets.

Q: Can I stake stablecoins on Bybit?A: Currently, most staking options involve PoS-based cryptocurrencies rather than stablecoins. However, certain platforms occasionally offer limited-time promotions for stablecoin staking.

Q: What happens if I unstake before the lock-up period ends?A: If you choose a fixed-term staking plan, early unstaking usually results in forfeiting earned rewards. Flexible plans do not carry this restriction.

Q: How often are staking rewards distributed?A: Reward distribution frequency depends on the asset. Most PoS coins distribute rewards daily or weekly, and these can be viewed in the Earn section under Reward History.