How to Stake TRON TRX and Earn Yield Using Trust Wallet
Trust Wallet, available as a mobile app and Chrome Extension, is a simple-to-use, self-custody crypto wallet and gateway to Web3 for people who want to fully own, control, and leverage the power of their digital assets. Trust Wallet allows you to store and manage your crypto and NFTs, buy, sell, and stake crypto to earn yield, access dApps securely and much more—all in one place. In this guide, we’ll focus on the staking feature, and specifically how to stake TRON TRX.
Key details for staking TRON TRX using Trust Wallet
- Minimum amount required for staking: 1 TRX
- Lockup period for staking: 14 days
- Staking yield (APY): Varies – please see the Trust Wallet staking calculator
Trust Wallet does not control the minimum amount, lockup period, or staking yield.
What is staking?
Staking is the process of participating in a proof-of-stake (PoS) or a delegated proof-of-stake (dPoS) blockchain network by holding and "staking" a cryptocurrency in a wallet to support the operations of the network. These operations can include validating transactions, maintaining the network's security, and updating the blockchain. Participants are chosen to create new blocks and verify transactions based on the number of coins they are willing to "stake" or lock up as collateral. In return for staking their coins, participants may receive staking yield, which can be likened to interest in a traditional banking setup. Staking offers a way to earn passive income from holding cryptocurrency, and it's a key feature of many modern blockchain networks.
What is TRON?
TRON is a blockchain-based, decentralized protocol project with an internal TRX coin that aims to create a worldwide, free content entertainment system with distributed storage technology, allowing easy and cost-effective sharing of digital content. It was founded by Justin Sun in 2017.
TRON has a high throughput due to its features such as three-layer architecture (comprising storage, core, and application layers), improved proof-of-stake consensus mechanism, and super representative (SR) mechanism. One of the main uses of the TRX coin is for the creation and interaction with decentralized applications (dApps) and smart contracts on the TRON network. TRON also supports the creation and distribution of NFTs (Non-Fungible Tokens). In addition, TRON can be staked via Trust Wallet to earn staking yield, thereby incentivizing participation in the network.
Before you stake TRON (TRX) using Trust Wallet
Before we dive into how staking TRON using Trust Wallet, you’ll need to create a wallet if you don’t already have one. Trust Wallet is available as a mobile app or you can get the Trust Wallet Extension for your desktop web browser. In this example, we’ll set up a new wallet using the Trust Wallet Mobile App.
Step 1: Download the latest version of the Trust Wallet App.
Step 2: Set up your new wallet
- Open the Trust Wallet app, and choose “Create a new wallet.”
- Select an option to back up your wallet.
- Once your wallet is set up, tap on “Start using Trust Wallet.”
Tip: If you already have a wallet that’s not Trust Wallet, you can choose to import that wallet. In this case, you’d choose the “I already have a wallet” option.
Step 3: Ensure you have TRX in your wallet
You’ll need TRX in your Trust Wallet before you stake it, so use the appropriate instructions below to get TRX into your wallet.
- Use these instructions to buy TRX directly in your Trust Wallet.
- Use these instructions to deposit TRX into your wallet.
How to stake TRON (TRX) using Trust Wallet
To stake TRON do the following:
- Navigate to the TRON TRX asset via the main wallet page, or if you cannot find it there, you can select the toggle icon in the top right hand corner, then search for it.
- Select “Tron TRX”.
- Select the “More” button and then choose “Stake”.
- On the Staking page, select “Stake”.
- Choose the amount you want to stake, select Next, and then follow the remaining instructions to stake your TRON TRX
Frequently asked questions about staking TRON (TRX) using Trust Wallet
What is the best wallet to stake TRON TRX?
Many people wonder where the best place to stake TRON TRX. Trust Wallet is a great option because it allows you not only to stake your TRON TRX to earn yield, but you can also claim your earned crypto and store it safely.
How much do you earn by staking TRON TRX?
Staking yield may vary depending on the network, and the rate is not set or controlled by Trust Wallet. You can check the percentage yield anytime using the Trust Wallet staking calculator.
What is the minimum amount to stake TRON TRX?
The minimum stake amount is 1 TRX.
What is the lockup period when I stake TRON TRX.
The lockup period is 14 days.
How do I unstake TRON TRX on Trust Wallet
To unstake TRON TRX, do the following:
- Navigate to the TRON TRX asset details page.
- Choose the “More” button, and select Stake.
- Then choose Unstake and follow the instructions to confirm the unstaking process.