Klever Wallet is churning out ways of improving these reward systems to ultimately impact the lives of its community and investors.
One of the major ways of the reward system includes the staking feature in the Klever Wallet such that anyone with a mobile device anywhere in the world can earn passive income by staking tokens inside K5 Wallet.
What is staking?
Staking: In simple terms, refers to a process that involves buying and setting aside a certain amount of tokens, either to become an active validating node for the network or to simply become part of the token’s community of believers and supporters.
Such investors or supporters of the project are subsequently rewarded with particular tokens as a reward for believing in the project and ensuring that the network is stable and secure.
Klever Wallet is one of the best performing wallets with a staking model that has enabled the community to be rewarded for their passion and commitment to the security and stability of the Klever network.
How to stake KLV in your Klever Wallet (K5)?
Step 1: Tap on the Balance icon from the bottom-menu on the home page. Then, select the KLV (Klever) token and choose an account.
Step 2: Inside the KLV account, tap on the STAKE icon. In the stacking page, tap on the Staking button, then input the amount of KLV you want to stake and tap on Next button.
Step 3: In the next screen, you will see the details of the staking transaction. Tap on the Confirm button, then input the PIN code or your Biometrics to sign the transaction.
The minimum amount of KLV to stake is 1000 KLV. And, it is recommended to keep at least 6 KLV (unstaked) in your account. This is because you have to pay 2 KLV as a network fee for each one of the following operations: staking, delegating, claiming rewards and unstaking.