Having explored the resource model and Super Representatives, it's time to delve into one of the most important yet straightforward actions — staking TRON (TRX) cryptocurrency.
How to Stake TRX
To start earning TRX, you'll need a non-custodial wallet that supports staking. Not all wallets offer TRX staking functionality. If you're unsure which one to choose, it's recommended to use a wallet (browser extension) endorsed by TRON blockchain developers. We'll use this wallet to demonstrate freezing, staking, and reward collection.
Freezing
Once you've topped up your wallet balance with TRX coins, follow these steps:
- Click the “Stake” button in the app.
- You'll be redirected to Tronscan explorer with a dashboard for managing all your account functions in the TRON blockchain.
- Navigate to the “Assets” section.
- Click “Obtain” on the right. This button allows you to choose the resource to freeze, the amount to freeze, and the recipient address (automatically inserted from the wallet used for the transition). You can change the recipient address if you're freezing TRX for resources on another address.
Voting
After freezing (in our case, for Energy), follow these steps:
- You'll receive Tron Power (TP), also known as Votes.
- These votes can be cast for any Super Representative, Super Partner, or candidate.
- Click the “Vote” button, which will redirect you to a new page with a selection of network validators to vote for.
- If you have no specific preference for Super Representatives, click “Vote” again, then the “Quick Vote” button, distribute your votes, and confirm the voting transaction. The quick voting feature automatically distributes your votes to validators who were most profitable in the previous voting round.
Reward Collection
- After each voting round, which lasts 6 hours, you'll receive your first reward as a voter.
- Claim it on the “Assets” tab of your account dashboard by clicking “Claim”. The reward will be credited to your address.
- You can use this reward as you see fit: freeze again, store, or send.
- If the entire process seems complex, consider using mobile wallets like Trustee for staking.
Unfreezing and Withdrawing Stakes
- Since April 7, 2023, the unstaking period for TRX has been increased to 14 days.
- Unfreezing itself takes seconds, but to withdraw the stake back to your address, you'll have to wait 2 weeks.
- During this period, you can't use the unfrozen balance, and rewards aren't accrued on the unfrozen amount.
- To unfreeze and withdraw TRX from staking, go to your address explorer, select “Resources” — “Stake 2.0” — “My Stake”.
- Click the “Unstake” button, wait for 14 days, then click “Withdraw”. TRX will be available for use on your address within 90 seconds.
Is Staking TRON (TRX) Profitable?
Before making any investment decisions, it's crucial to understand the nature of the asset you intend to use, its prospects, and your financial capabilities. Consider the risk-return ratio of your potential investments. The average annual return on TRX staking is around 4-4.5%. In bearish market conditions, profits may be modest, but in bullish markets, the stake increase can be significant, especially considering balances are typically calculated in fiat equivalent. Find a convenient and informative TRX staking profitability calculator.
It's important to note that when staking, your TRX balance remains in your wallet and is simply frozen for staking purposes, with the option to unfreeze at any time.