# Staking ADA
ADA is a crypto asset based on public open-source and decentralized blockchain platform – Cardano. The blockchain consensus is achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency. The platform was created in 2015 by the company Input Output Hong Kong (IOHK) and Charles Hoskinson, the former co-founder of BitShares, Ethereum and Ethereum Classic. The system is focused on launching smart contracts, decentralized applications, sidechains, and multiparty computing. The platform is named after Gerolamo Cardano, and the cryptocurrency is named after Ada Lovelace. The development of the project is overseen and supervised by the Cardano Foundation based in Zug, Switzerland. The platform is named after Gerolamo Cardano, and the cryptocurrency is named after Ada Lovelace.
# What is Staking
Staking is the mechanism that provides passive income generated by locking (freezing) assets in a cryptocurrency wallet. This helps the blockchain to maintain the functioning. Stakers receive regular rewards.
StakingBox is the first TIDEX DeFi interchain product that supports staking various crypto coins including ADA. The staking is organized on smart contracts and is completely decentralized. The staked funds are proxied to several DeFi products of the Ethereum ecosystem, including Curve, Uniswap, etc. The algorithms provide unique opportunity to get unprecedented high percent of profit (2-40% annual interest).
TIDEX has been operating since 2017 and has gained a reputation as a stable platform - one of the few that has never been hacked.
# What are the Staking Conditions for ADA (Profit, Minimal Staking Amount, Duration etc.)
Staking on TIDEX provides one of the highest APY you can get on the market. You can get up to 4% annual interest for ADA.
Profits are accrued daily and automatically added to your balance. You can use them right away for trading or withdraw them from the exchange. You can track the payout history in the D & W History (opens new window) section. You can also enable optional feature to automatically capitalize daily interest in your staking, meaning that your daily interest will be automatically added to the staking amount.
The minimal staking amount is 50 ADA. The maximum fixed staking duration is 90 days.
# How to Stake ADA
Select fixed staking. Find ADA in the list and click More details. Specify the amount and duration of the staking and click Stake Now.
# How to Withdraw ADA from Staking
In the Active Deposits list find the stake that you want to withdraw. Under Actions, select Withdraw. When you confirm the withdrawal, the funds will be returned to your trading balance after 1 day lock-period.
# How to Get ADA
You need to have enough ADA on your balance to stake it.
You can get ADA by depositing it directly to your TIDEX wallet on the Deposits and Withdrawals (opens new window) page. To do so, on the Deposits and Withdrawals page find ADA and click Deposit.
Use the displayed address or QR-code to deposit ADA from wallets of other vendors. If you have no other wallets with ADA, use services, such as bitcoin.org/buy (opens new window) or waves.exchange/buycrypto (opens new window) to buy other crypto with a bank card and then trade it to get ADA on TIDEX Exchange (opens new window).
You can also deposit fiat USD from your bank card to TIDEX wallet. To do so, on the Deposits and Withdrawals (opens new window) page find US Dollar on the list and click Deposit.
Specify the amount and click Continue. Then follow the on-screen instructions to proceed with payment via AdvCash. When you have fiat USD on your TIDEX wallet, you can exchange them to any assets that you need on TIDEX Exchange (opens new window).
Read more articles in StakingBox chapter.