Tron is one of the most popular cryptocurrencies in the world.
It also has a sizable presence among dApp developers. Tron dAaps (along with ETH and EOS dAaps) are among the most popular, according to dappradar.com.
Tron’s popularity has made people curous about staking TRX. You can stake TRX coins and earn more TRX as a reward.
Let’s get started!
Go to TronScan And Create A Wallet
The easiest way to start with Tron is to go to TronScan.org to create your own wallet. To do this, find the button ‘Sign In’ on top right, and click it.
You will find 3 options. Tronlink, Ledger, and Import A Wallet. Choose “Import A Wallet“. Using a hardware wallet is the most secure option, we don’t recommend using the web wallet for any sizable amount.
Skip the private key (Sign In) part and just click the blue button Create Wallet
*PS: You can skip this step if you already have your own Tron wallet. To ‘import a wallet’ to TronScan, you can just copy-paste your private key or your keystore file.
On the next page, you will need to set your password. Make sure to use a strong password,
Then you will need to save the keystore file. This encrypted key contains sensitive information so make sure you store it somewhere safe. Preferably, in a separate flash drive.
After you store your keystore file, the next step is to save your private key. The safest bet is to store your private key in a paper wallet (which means, you write it on a piece of paper. With this method, a hacker cannot access your private key unless he goes to your home physically). To store it in a paper wallet, click “Print Paper Wallet”.
Remember, the above method should only be used for small amounts. Connecting to TronScan with your hardware wallet is the safest way to go.
Find Tron Power And Freeze Your TRX Coins
After you backup all the important information, you will be redirected to https://tronscan.org/#/account. Here you can find your wallet address. You need to have a balance in this wallet before you can stake your TRX.
Once you have some coins in your TronScan wallet, scroll down until you see this image.
For you who are confused, Tron Power basically ‘freezes’ the amount of TRX coins that you own.
This freezing feature is needed before you can start voting for Super Representatives (SR). The whole idea of staking in Tron blockchain is about voting for an SR, you will be rewarded as a way for these representatives to say ‘thank you’. To proceed just click the blue button “Freeze”
Vote For Your Preferred Representatives
Wait for a while until the blockchain confirms your freezing action. The moment you get your Tron Power, you can vote for your preferred representatives. To do it, find the menu “Tron SR” and click “Votes”
On the next page, you will see a lot of different representatives. If you want, you can vote for more than 1.
To stake your TRX coins, just click “Click here to Start Voting”. That’s it!
After some time, you will see your TRX balance start to increase gradually. To calculate the rewards for each representative, you can check https://www.tokengoodies.com. On TokenGoodies, you get the latest information for each representative. Choose wisely!
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