One of the world’s leading crypto companies, Klever has opened the opportunity to crypto users who want to earn passive income from holding Klever (KLV), a utility token on its wallet.
Before we learn how to unstake, let’s first understand how to stake KLV on Klever Wallet.
Staking of KLV
Staking of KLV on Klever Wallet is very simple, the user first needs to download the Klever Wallet. The app is available in the Android, Huawei, and Apple stores.
After the user has downloaded the app, kindly follow a few steps to set up the wallet.
- Run the App
- Note down your 12 words’ security phrase
- Don’t share this phrase with anyone, if you lose this, you will not be able to restore your Klever wallet
- Proceed and enter your six-digit security code, remember it, and don’t share it with anyone.
If you already have a wallet, kindly recover it with your seed.
Once you land up on the portfolio page, click on the KLV token.
You will now enter the KLV account, where you can see various functions like send, receive, scan, charge, buy, and staking.
When you click on staking, you need to select how much you need to stake.
Once you stake KLV, you can unfreeze them only after 3 days. You can also check your income from staking on an hourly, daily, monthly, and yearly basis.
Today, staking KLV can earn you an 8% annual return.
Now let’s come back to the unstaking of KLV.
Unstaking of KLV
Let’s explain with an example.
Imagine you urgently need your staked KLV back. Do the following steps to unstake:
- Log into your Klever Wallet account with your security pin.
- Enter the portfolio page and click on the KLV token.
- It will take you to the KLV screen and it will show features you can do with KLV on Klever Wallet.
- Click on Staking and once you are on the page, scroll down to the unstake tab.
- Before you unstake, you first need to unfreeze your staked KLV.
- Once you unfreeze your KLV, you can withdraw it 7 days later.
- You can also swap your KLV with other tokens listed on Klever Wallet.
- During the 7 days period, you do not see the KLV tokens inside your Portfolio screen and you cannot transfer them. Once the 7 days period ends, you have to withdraw your KLV manually.
- To unfreeze KLV tokens, the smart contract consumes up to 70,000 Energy. If your wallet does not contain enough Energy then up to 40+ Tron (TRX) might get burnt to generate the required Energy.
- If you did not claim your available earnings before you unfreeze your KLV, then you will receive those earnings at the end when you withdraw your KLV after the 7 days period.
Users can stake other tokens too in Klever Wallet and earn passive income.
With this feature, Klever aims to provide financial freedom to users who are looking for an alternative to the current financial system.
Remember, Klever offers borderless service, where users in any part of the world can take advantage of this service. Any user can open an account in Klever Wallet and start earning passive income from staking their crypto assets.
It is a Klever idea to make your crypto assets work in your wallet!