# Staking for Dummies: Step by Step

Staking is a convenient way to earn cryptocurrency. Staking is similar to a bank deposit: you just deposit funds and receive passive interest income.

In this article, you will learn how to start staking in StakingBox (opens new window) on the TIDEX platform.

Roadmap:

  1. Choose a coin for staking.
  2. Create a TIDEX account.
  3. Top up your balance.
  4. Start staking.

# Step 1. Choose a coin for staking

On the StakingBox (opens new window) page сheck out staking terms:

  • types of staking (fixed and flexible),
  • which coins you can stake,
  • current yield,
  • minimum staking amount.

# Step 2. Create a TIDEX account

  1. Click the Sign Up button in the upper right corner.

  2. Fill out the form: provide your email, password, numeric PIN and account name. Click Create an Account.

    View

    Create account on TIDEX

  3. Follow the link in the email to complete your registration.

# Step 3. Top up your balance

You can top up your balance on TIDEX in several ways:

  • Transfer cryptocurrency from your account on another platform.
  • Transfer fiat dollars (USD) from your bank card or ADV (Advanced Cash (opens new window)) wallet.

You can then exchange the deposited currency at TIDEX exchange (opens new window). Check out the list of supported trading pairs (opens new window) in advance. For example, fiat USD can be exchanged for Tether USD (USDT).

# Transfer cryptocurrency from another wallet

  1. Go to Services → Deposit & Withdrawals (opens new window).

  2. In the search box, enter the coin name or ticker.

  3. In the line with the coin name, click Deposit.

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    Find cryptocurrency

  4. Copy the address using the button. Send a coin to this address from the external platform.

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    Get address

    ⚠️ Cauton!

    • Carefully make sure that you are sending the right coin. Sending other coins to this address will result in their irrecoverable loss.

    • The top-up amount must be at least the specified minimum.

    • We recommend that you deposit the minimum amount for the first time.

    • Take into account withdrawal fees on the external platform.

  5. Wait until the transfer is credited. Check your balance in the Services → Deposit & Withdrawals (opens new window) section.

    See Asset specification (opens new window) for the number of confirmations (that is, blocks added to the blockchain after the block containing the transaction) required for each coin to be credited.

# Deposit fiat dollars

  1. Go to Services → Deposit & Withdrawals (opens new window).

  2. In the search box, enter USD.

  3. In the US Dollar line, click Deposit.

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    Find USD

  4. Enter the top-up amount and click Continue.

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    Confirm deposit

  5. Select a payment method:

    ADV wallet: transfer from your ADV wallet. An account in Advanced Cash (opens new window) payment system is required.

    Credit/debit card: pay with a bank card.

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    Payment options

  6. Click Go to payment. Follow the payment system's instructions.

  7. Wait until the transfer is credited. Check your balance in the Services → Deposit & Withdrawals (opens new window) section.

# Step 4. Start staking

  1. On the StakingBox (opens new window) page select fixed or flexible staking, find an asset that you want to stake in the list and click More details.

  2. Specify the amount (and the duration for fixed type) of staking.

    Note: 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.

    View

    Staking parameters

  3. Click Stake now.

  4. Confirm the staking.

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    Confirm staking

Your staking will be activated immediately. Staking payments are added to your balance daily. You can track your rewards in the Staking (opens new window) section.

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Staking rewards