If you’re new to crypto, you may be unfamiliar with certain regularly used words in this space. Terms like mining, delegating, staking and so on may sound strange. That’s why this article has been put together, to help you understand what Elrond’s eGold (EGLD) staking is.

Although a relatively new blockchain. Elrond is the most decentralised and to a large extent, the most rewarding network currently. It is highly scalable, offers users a high level of privacy and provides more opportunities for the new internet economy. EGLD staking is one reason why Elrond is often considered the most valuable network by developers and users today.

Keep scrolling to understand what EGLD staking is and how you can earn money from it.

## What is Cryptocurrency Staking?
Staking means locking cryptocurrencies (for example EGLD) to secure a blockchain network like the Elrond Network. When you lock your tokens to secure a network, you receive/earn rewards for doing that. This is the major principle behind the proof of stake (PoS) consensus mechanism, a more energy-efficient alternative to the proof of work consensus mechanism.

Elrond EGLD holders are incentivized to support the Elrond network by staking and locking EGLD into a smart contract while earning rewards in return. They do this by delegating a minimum of 1 or more EGLD or by running a validator node with a 2500 EGLD stake.
Validator rewards are distributed automatically while the delegator rewards are claimable once per day with no time limits.

Currently, when your EGLD tokens go into an incentivized list called the waiting list, you can earn up to a 20% annual percentage rate (APR) depending on how many tokens you stake.
The waiting list helps you reserve your spot and starts your reward tracker. As soon as a delegator signals their intent to undelegate, the EGLD that you have registered in the queue will replace those of the user that wants to undelegate.

To learn about your APR, you can use the Elrond staking calculator on their official website. It will calculate your yearly returns as a percentage as well as give you a daily, weekly and monthly breakdown, this is all based on the number of tokens that you stake.

Note: This is based on open or active staking. You can withdraw your staked EGLD at any time although you should know that a 10-day unbounded or holding period will apply.

## How to Stake EGLD on your Elrond Wallet
First, you must create an Elrond Web Wallet (link “Elrond web wallet” to our article on how to store EGLD). You can do this on the official website, on the Maiar App or the Maiar DeFi Wallet. Then, you will add funds to your wallet by buying some EGLD tokens via the Elrond official website, from an exchange like Binance.
When you have successfully bought some EGLD tokens and transferred them to your wallet, then, you are ready to stake EGLD.

Below are simple steps to follow to stake your EGLD tokens:

### Step One: Choose a Validator

- Visit [StakeAfrik&#39;s Delegation Manager](https://delegate.stakeafrik.com)
- Log in to your Elrond Wallet.
- Go to the stake dashboard.
Note. If you are on the main panel of your wallet, then you can skip this step and immediately press the round Stake Now button.
- A page will display, and this page will show you your staking statistics, the number of staked tokens, active staking, and available rewards.
- Click on Stake Now to open the list of validators.
- Enter the validator&#39;s name. Then check the box and click Continue.
Note: Pay close attention to the Filled field. It shows how busy the validator is with delegators. Elrond network only accepts a limited number of delegates.

### Step Two: Delegate EGLD Tokens

- Enter the number of tokens you want to stake. This can be done manually or by moving the slider. Then click Continue and wait for confirmation from the validators.
- Check the transaction parameters and click Confirm.
Bravo! Your EGLD Tokens have been staked successfully.

## Frequently asked questions about staking
In this section, you’ll read about the commonest questions people ask about staking EGLD and the right answers to them. Keep scrolling to learn more.

### Is Staking non-custodial?
Staking is non-custodial. This means that when you stake with staking agencies like StakeAfrik, they do not have direct access to your funds at any point in time. The entire process is carried out securely through the Maiar wallet.

### What are the minimum EGLD stake and unstake amount?
The minimum amount that you can stake is 1 EGLD. There&#39;s no minimum amount to unstake. However, note that it is not possible to leave less than 1 EGLD staked.

### When are rewards distributed?
Rewards are distributed daily (At around 02:20 PM UTC). If you want to have the rewards available, you will need to claim them. Claiming takes seconds and you are charged a small transaction fee.

### How can I unstake and how long does it take to unstake?
You can unstake your EGLD at any time. The entire unstake process takes 10 days.
You have to initiate the unstake process through an unstake transaction.
10 days later, you will need to finalise the withdrawal of your unstaked EGLD.

### How much will I earn?
At StakeAfrik, you’ll earn up to 20% APR depending on how many tokens you stake with us.
APR (Annual Percentage Rate) is how much you will earn from the investment each year.

## Conclusion
You’ve seen that staking isn’t as hard as you may have thought it would be. It’s so easy that anyone can understand. We trust that this article has helped you, so, you can now stake your EGLD confidently because you’ve been armed with the right information. To learn more about Elrond and how to buy, sell or stake your EGLD, contact StakeAfrik today.

Elrond's eGold (EGLD) Staking

Maximizing Returns: A Guide to Successfully Operating a...

Maximizing Returns: A Guide to Successfully Operating a Validator Business on MultiversX

Are you ready to make the most of your eGLD? As an eGLD holder or someone interested in investing in this fantastic cryptocurrency, you must be wondering about the best ways to store your tokens securely. Fret not, as we&#39;ve got you covered with this easy-to-follow guide to help you store your eGLD correctly!

In this article, we&#39;ll explore the various storage options available for eGLD, discuss their pros and cons, and guide you through best practices to keep your investment safe. By the end of this guide, you&#39;ll be well-equipped to store your eGLD with confidence and peace of mind. So let&#39;s dive in!

## What Is EGLD &amp; MultiversX?
[MultiversX is an innovative blockchain platform](https://stakeafrik.com/blog/what-is-the-elrond-blockchain) designed to provide a highly scalable, secure, and energy-efficient infrastructure for the future of decentralized applications. It leverages a unique adaptive state sharding mechanism and a secure Proof of Stake (PoS) consensus algorithm to improve transaction processing speed and network performance.

At the heart of MultiversX is its native token, eGLD. This cryptocurrency serves as the platform&#39;s lifeblood, powering all transactions, smart contracts, and interactions within the MultiversX ecosystem. eGLD is used for transaction fees and gas costs and is critical in the platform&#39;s staking and governance processes.

eGLD has multiple utilities within the MultiversX ecosystem, including:


1. **Transaction fees:** Users pay transaction fees in eGLD for sending tokens, interacting with smart contracts, and deploying decentralized applications.
1. **Staking and network security:** eGLD holders can stake their tokens to participate in the PoS consensus process, helping to secure the MultiversX network while earning staking rewards.
1. **Governance:** eGLD holders can participate in the platform&#39;s decentralized governance process, proposing and voting on network parameter changes and future development.
1. **Incentivizing developers:** 30% of the eGLD transaction fee is given to the owners of smart contracts on the MultiversX blockchain, thereby incentivizing developers to create innovative decentralized applications (dApps) and solutions on the MultiversX platform.

With its constant use as a means of payment, it&#39;s essential to store eGLD securely. Fortunately, you can do this in several ways, as discussed in this article.

So if you have or are considering acquiring some eGLD, read on to discover the best way to store it!

## Understanding Cryptocurrency Storage Basics
When storing your eGLD or any other cryptocurrency, it&#39;s essential to understand the differences between hot storage and cold storage. Hot storage refers to digital wallets connected to the internet, such as online wallets (e.g., [MultiversX Web wallet](https://docs.multiversx.com/wallet/web-wallet)), browser extension wallets (e.g., [MultiversX DeFi Wallet](https://docs.multiversx.com/wallet/wallet-extension)), and mobile wallets (e.g., xPortal App). While hot storage is more convenient for frequent transactions, cold storage is considered more secure due to its reduced vulnerability to hacking and other online threats because it involves storing your eGLD offline, away from the internet. Examples of cold storage methods include hardware wallets (e.g., Ledger Nano S or Trezor) and paper wallets (e.g., a printed QR code with your private key).

Private key management is critical when storing eGLD, as private keys act as a password to your wallet, granting you access to your tokens. However, unlike passwords, private keys cannot be recovered if lost. Therefore, securing your private keys is crucial, as losing them or having them fall into the wrong hands could permanently result in losing access to your tokens.

To secure your eGLD, follow these best practices: keep your private keys confidential, consider using a hardware wallet for cold storage, create multiple backups of your private keys, use strong and unique passwords for your digital wallets, and enable two-factor authentication when available.

_By understanding the basics of cryptocurrency storage and following these best practices, you can store your eGLD within the MultiversX ecosystem securely and confidently._

## MultiversX Wallets for EGLD
MultiversX offers a variety of wallet options to cater to the diverse needs of its users. Each wallet has unique features and security measures to ensure a seamless and secure experience when storing and transacting with eGLD. In this section, we&#39;ll explore the different wallets provided by MultiversX, how to set them up, and their features and security measures.

### MultiversX Web Wallet
The MultiversX Web Wallet is an online wallet accessible through your web browser. It offers a user-friendly interface and a comprehensive range of features, making it a convenient choice for beginners and experienced users.

To set up the MultiversX Web Wallet:


- Visit [https://wallet.multiversx.com](https://wallet.multiversx.com).
- Click on &quot;Create a new wallet&quot; and follow the on-screen instructions to generate a new wallet.
- Back up your wallet&#39;s mnemonic phrase (seed phrase) and store it securely.
- Set a strong and unique password for your wallet.

Features and Security Measures:


- Access to MultiversX&#39;s full range of services, including staking, swapping, and NFTs.
- Encrypted wallet data stored locally on your device.

### MultiversX DeFi Wallet (Browser Extension)
The MultiversX DeFi Wallet is a browser extension wallet that enables easy access to decentralized finance (DeFi) services and applications within the MultiversX ecosystem.

To set up the MultiversX DeFi Wallet:


- Visit the official extension site for your browser of the MultiversX DeFi Wallet and download it (e.g., [Chrome](https://chrome.google.com/webstore/detail/multiversx-defi-wallet/dngmlblcodfobpdpecaadgfbcggfjfnm), [Firefox](https://addons.mozilla.org/en-US/firefox/addon/multiversx-defi-wallet/), or Brave).
- Install the extension and follow the setup instructions to create a new wallet or import an existing wallet using your mnemonic phrase.
- Set a strong and unique password for your wallet.

Features and Security Measures:


- Seamless integration with various DeFi applications on the MultiversX platform.
- Encrypted wallet data stored locally on your device.

### xPortal App (Mobile Wallet)
The xPortal App is a mobile wallet developed by MultiversX, providing users with a convenient way to manage their eGLD on the go.

To set up the xPortal App:


- Download the xPortal App from the App Store or Google Play Store.
- Open the app and create a new wallet or import an existing one using your mnemonic phrase.
- Set a strong and unique password for your wallet.

Features and Security Measures:


- Access to MultiversX&#39;s full range of services, including staking, swapping, and NFTs.
- Biometric authentication (e.g., fingerprint or facial recognition) for added security.
- Encrypted wallet data stored locally on your device.

By understanding the different wallet options provided by MultiversX, you can choose the one that best suits your needs and preferences. Remember to follow the recommended security practices, such as setting strong and unique passwords and backing up your secret phrase, to ensure the safe storage of your eGLD tokens.

## Compatible Third-Party Wallets
While MultiversX provides various wallet options for eGLD, you may also store your tokens in third-party wallets. These wallets offer additional features or security measures that may suit your specific needs. This section will discuss compatible hardware and software wallets for eGLD, using Ledger and Trust Wallet as examples.

### Hardware Wallet: Ledger
[Hardware wallets are considered one of the most secure storage options for cryptocurrencies](https://www.zindagiwow.com/2023/04/22/a-beginners-guide-how-to-invest-in-cryptocurrency). They store your private keys offline on a dedicated device, reducing the risk of hacks and online threats. [Ledger is a popular hardware wallet brand](https://www.securities.io/best-hardware-wallets) that supports eGLD storage, offering two models: Ledger Nano S and Ledger Nano X.

### Software Wallet: Trust Wallet
Trust Wallet is a popular, user-friendly mobile wallet that supports eGLD and many other cryptocurrencies. It offers an intuitive interface and various features to help you manage your eGLD tokens easily.

When selecting a third-party wallet to store your eGLD, ensure it is compatible with the MultiversX network and provides the desired features and security measures. In addition, always follow best practices, such as setting strong and unique passwords and keeping your private keys confidential, to guarantee the safe storage of your eGLD tokens.

## Staking eGLD for Passive Income and Security
Storing your eGLD is only part of the equation - there&#39;s another great benefit you can gain: [passive income](https://stakeafrik.com/blog/elronds-egold-egld-staking)! By [staking your eGLD](https://stakeafrik.com/blog/elronds-egold-egld-staking) with a staking provider such as StakeAfrik, you can earn rewards on your holdings while helping secure the MultiversX network.

### Introduction to eGLD Staking
The MultiversX network is secured using a proof-of-stake consensus mechanism. This means that validators on the MultiversX network—such as StakeAfrik—are responsible for validating transactions, securing the network and earning rewards for doing so.

### The Role of Staking Providers like StakeAfrik
Just like miners on other proof-of-work networks, validators must put up a certain amount of their cryptocurrency as collateral to be eligible as a validator. That&#39;s where staking providers come in - they provide an easy way for users to stake their tokens without going through the complexities of setting up and running their own validator nodes.

An excellent staking provider such as StakeAfrik provides users with a secure, user-friendly platform and handles all the technical aspects of running a validator node - from setting up nodes to collecting user rewards. Using a staking provider like StakeAfrik, users can earn rewards without taking on any risk or extra effort.

StakeAfrik also has a [community-driven project called CryptGain](https://stakeafrik.com/blog/cryptgain-a-comprehensive-analysis-of-the-game-changing-referral-rewards-programme-for-proof-of-stake-blockchains) to help foster staking activities on and mass adoption of PoS blockchains.

## Tips to Secure Your EGLD Assets
Protecting your eGLD investment is crucial, and understanding the best practices for securing your digital assets is the key to ensuring their safety. This section will provide essential tips to help you secure your eGLD tokens.

### Use a hardware wallet
One of the most secure methods for storing eGLD is a hardware wallet, like Ledger or Trezor. These devices store your private keys offline, reducing the risk of hacking and theft.

### Enable multi-factor authentication (MFA)
Wherever possible, enable MFA, including two-factor authentication (2FA), on your wallet or exchange accounts to add an extra layer of security. This requires a unique code generated by an authenticator app or sent to your mobile device and your password for account access.

### Keep private keys safe
Your private keys are critical to securing your eGLD. Store them securely, create multiple backups, and never share them with anyone.

### Use strong, unique passwords
For any digital wallet or exchange account, ensure you use a strong and unique password. This makes it more challenging for potential attackers to access your accounts.

### Regularly update your wallet software
Keep your wallet software up-to-date to benefit from the latest security patches and features. Developers often release updates to address vulnerabilities and improve security.

### Beware of phishing attacks
Be cautious when clicking links in emails or messages. Scammers often use phishing attacks to trick you into revealing sensitive information. Always verify the authenticity of websites and links before entering your login credentials.

## Conclusion
Securely storing your eGLD is paramount to protecting your investment and ensuring its safety within the MultiversX ecosystem. As an eGLD holder or potential investor, it is essential to follow best practices and explore different storage options to find the one that suits your needs best. By using trusted wallets, adhering to security measures, and staying vigilant against potential threats, you can have peace of mind knowing your tokens are well-protected.

Additionally, it&#39;s worth considering the potential benefits of staking eGLD with a trusted provider like StakeAfrik. By staking your eGLD, you can earn passive income while contributing to the security and stability of the MultiversX network. Furthermore, [the CryptGain platform](https://cryptgain.com/CryptGain-LitePaper.pdf) by StakeAfrik offers a unique referral rewards program, further enhancing the potential returns for participating users.

As you continue to explore the exciting world of eGLD and MultiversX, remember to prioritize the security of your assets and take advantage of the various opportunities and tools available to maximize your investment. Happy staking, and stay secure!

An Easy Guide: How to Store eGLD the Right Way

In the ever-evolving world of cryptocurrencies, CryptGain is taking the Proof of Stake (PoS) landscape by storm. CryptGain is ushering in a new era of user engagement, revenue opportunities, and exclusive privileges through its NFT-based Profiles system by introducing a unique referral rewards programme. This comprehensive analysis will delve into the game-changing aspects of CryptGain and demonstrate why the crypto community should join the Public Devnet Community Growth Campaign (CGC). If you still need to, download the [CryptGain lite paper](https://cryptgain.com/CryptGain-LitePaper.pdf) to learn more.

## Section 1: The Power of CryptGain&#39;s Unique Referral Rewards Programme
CryptGain has masterfully tapped into the potential of referral rewards to benefit delegators and staking providers. CryptGain has created a bustling ecosystem that rewards users for their loyalty and participation by incentivising delegators to refer others to the platform. Not only does this model make it more appealing for new users to join, but it also offers additional revenue opportunities for existing users.

## Section 2: NFT-based Profiles - A Game Changer in the PoS Ecosystem
CryptGain&#39;s innovative use of non-fungible tokens (NFTs) in the form of Profiles is reshaping the PoS ecosystem. These Profile NFTs store crucial user data, such as delegations, referrals, and platform-specific features. Users can rent, buy, and sell Profile NFTs, offering numerous benefits and opportunities for interaction. Profile NFTs can be merged, creating a dynamic marketplace for users to maximise their rewards and privileges within the CryptGain ecosystem.

## Section 3: Deflationary Token Economics - A Unique Approach for Sustained Growth
CryptGain utilises a deflationary token model, ensuring that the number of cryptgains in circulation decreases over time. Early adopters of the platform can benefit from this design, as the value of their cryptgains is likely to increase as the total supply decreases. The token creation and distribution of cryptgains are linked to delegation activities on StakeAfrik, promoting a healthy and thriving ecosystem that rewards users for their continued participation.

## Section 4: Community Growth Campaigns (CGCs) - The Heart of CryptGain&#39;s Evolution
CGCs are the lifeblood of the CryptGain platform. These periodic events, promotions, and initiatives are designed to drive user adoption, raise awareness, and encourage participation in the ecosystem. By offering incentives for users to engage with the platform, CGCs help to ensure that CryptGain remains a vibrant, evolving platform that responds to the needs and desires of its user base.

The Public Devnet CGC is particularly significant, as it allows users to secure their referrals and transfer them to the mainnet when CryptGain goes live on the MultiversX Chain. By participating in the Public Devnet CGC, users can help shape the platform&#39;s future, preserve their potential cryptgains incentives, and take advantage of the exclusive privileges offered by the NFT-based Profiles system.

## Section 5: Future Developments and Roadmap
The CryptGain team has ambitious plans for the platform&#39;s future, including expanding to additional PoS blockchains and integrating DeFi and NFT protocols. Key milestones on the horizon include releasing the CryptGain mobile app and launching new staking nodes on supported blockchains.

In addition, the team is exploring new use cases for cryptgains and Profile NFTs, such as subsidising tickets for entertainment, educational, or business events. This will require partnerships across various sectors, and the team is actively seeking new opportunities to grow and expand the CryptGain ecosystem.

## Section 6: Get Involved with CryptGain&#39;s Public Devnet CGC
The Public Devnet CGC is an incredible opportunity for both newcomers and veterans of the crypto space to be a part of the revolution that CryptGain brings to the PoS ecosystem. By participating in the CGC, you can help shape the platform&#39;s future, preserve your potential cryptgains incentives, and take advantage of the exclusive privileges offered by the NFT-based Profiles system. So take advantage of this fantastic chance to be at the forefront of the CryptGain revolution.

## Section 7: Conclusion
CryptGain is a trailblazer in the world of Proof of Stake blockchains, creating a unique referral rewards programme that increases engagement and revenue opportunities for delegators and staking providers. With its innovative features, such as the native token cryptgains and the NFT-based Profiles system, CryptGain is carving out a niche in the market and disrupting the norms in cryptocurrency staking.

The potential for growth and adoption of CryptGain, combined with its impact on the broader blockchain ecosystem, makes it an attractive opportunity for investors and users. By participating in the Public Devnet CGC, you can be a part of this groundbreaking project and help shape the PoS landscape&#39;s future.

With its deflationary token economics, NFT-based Profiles system, and a strong focus on community growth and engagement, CryptGain is poised to become a leading referral rewards programme for staking providers and delegators. Don&#39;t miss your chance to be a part of this exciting new era in cryptocurrency staking. Join the Public Devnet CGC and become an early adopter of CryptGain today.

To learn more about CryptGain and its groundbreaking approach to PoS staking, download the lite paper here: [https://cryptgain.com/CryptGain-LitePaper.pdf](https://cryptgain.com/CryptGain-LitePaper.pdf). Be sure to join the CryptGain community on Telegram at [https://t.me/stakeAfrik](https://t.me/stakeAfrik) and visit the Public Devnet CGC website at [https://pub-devnet.cryptgain.com](https://pub-devnet.cryptgain.com) to stay up-to-date with the latest news and developments.

Embrace the future of Proof of Stake staking with CryptGain, and become a part of the revolution today!

CryptGain: A Comprehensive Analysis of the Game-Changing...

CryptGain: A Comprehensive Analysis of the Game-Changing Referral Rewards Programme for Proof of Stake Blockchains

The blockchain industry has evolved rapidly since the inception of Bitcoin in 2009. Over the years, various consensus mechanisms have been developed to secure blockchain networks and validate transactions. One such game-changing development is the Proof of Stake (PoS) consensus algorithm, which promises improved sustainability, scalability, and security compared to traditional Proof of Work (PoW) systems. This article explores the advantages of PoS, the growing popularity of cryptocurrency staking, the innovations in staking services, and the future of staking with a focus on the role of [StakeAfrik, a leading staking-as-a-service provider](https://stakeafrik.com).

## The Shift from Proof of Work to Proof of Stake
Proof of Work (PoW) has been the backbone of many blockchain networks, including Bitcoin. The PoW consensus mechanism requires miners to solve mathematical puzzles with varying complexity to validate transactions and add new blocks to the blockchain. However, PoW has limitations, such as high energy consumption, limited scalability, and susceptibility to centralization.

The energy-intensive nature of PoW mining has led to significant environmental concerns. As the mining process requires specialized hardware and consumes massive amounts of electricity, it contributes to carbon emissions and exacerbates climate change. Additionally, the rewards structure in PoW systems often leads to mining centralization, as more extensive mining operations with more resources can solve puzzles faster and reap a disproportionate share of rewards.

As a result, the industry sought alternative consensus mechanisms, leading to the emergence of Proof of Stake (PoS) as a more sustainable, scalable, and secure alternative. PoS-based blockchains do not rely on miners to validate transactions; instead, they use validators who [lock up a certain amount of cryptocurrency as collateral](https://www.cryptopolitan.com/energy-consumption-blockchain-adoption) or &quot;stake&quot; to propose and validate blocks.

## Advantages of Proof of Stake
PoS offers several advantages over PoW:

### Energy efficiency and environmental impact
PoS significantly reduces energy consumption by replacing mining with a validator selection process based on factors like [the amount of cryptocurrency held and the duration of the holdings](https://bubasky01.blogspot.com/2023/03/How%20to%20earn%20cryptocurrency%20in%202023%20with%20no%20investment%20.html). This eco-friendly approach minimizes the environmental impact of blockchain networks, making them more sustainable and attractive to environmentally conscious investors and users.

### Improved scalability and transaction throughput
PoS enables faster block creation and confirmation times, allowing networks to process more transactions per second. This increased capacity helps blockchain networks handle higher transaction volumes, addressing the scalability issues plaguing PoW-based systems like Bitcoin.

### Enhanced security against 51% attack and centralization
PoS reduces the risk of 51% attacks by making it more expensive and less rewarding for potential attackers. In a PoS system, an attacker must acquire most of the network&#39;s native cryptocurrency, which would be prohibitively costly and likely cause the asset&#39;s value to plummet. PoS also discourages centralization by distributing validator opportunities among a broader range of participants, ensuring a more decentralized and resilient network.

## The Growing Popularity of Cryptocurrency Staking
Staking has become a popular method for cryptocurrency holders to earn passive income. By locking up their assets in a [PoS network](https://stakeafrik.com/blog/what-is-the-elrond-blockchain), they can participate in the consensus process and earn rewards for validating transactions. Staking offers several benefits, including:

### Attractive returns
Staking can provide consistent and attractive returns compared to traditional investments, making it an appealing option for investors looking to diversify their cryptocurrency portfolios and hedge against market volatility.

### Network support
Staking helps support and secure PoS networks by encouraging users to lock up their assets, ensuring adequate participation in the consensus process and reducing the likelihood of malicious activities.

### Enhanced decentralization
By incentivizing a broader range of users to participate in the consensus process, staking helps promote decentralization and strengthen blockchain networks&#39; overall security and resilience.

The growing popularity of staking has led to increased adoption by investors and blockchain projects. As more PoS-based networks emerge and existing networks transition from PoW to PoS, the demand for staking services will continue growing. Additionally, as the general public becomes more aware of the benefits of staking, mainstream adoption of this investment strategy is likely to increase.

## Innovations in Cryptocurrency Staking Services
To cater to the growing demand for staking services, the cryptocurrency space has seen several innovations:

### Staking-as-a-service platforms
Companies like StakeAfrik have emerged to provide user-friendly staking services, allowing investors to participate without the technical complexities of running their validator nodes. These platforms simplify the staking process, offering a seamless experience for users to stake their assets and earn rewards with minimal effort.

### Liquid staking and other novel staking models
Traditional staking often requires users to lock up their assets for a certain period, sacrificing liquidity in the process. Liquid staking and other novel staking models enable users to stake their assets while retaining liquidity, allowing them to benefit from staking rewards without sacrificing the ability to trade or access their funds. As a result, these innovations have made staking more accessible and attractive to a broader range of investors.

### Referral programmes such as CryptGain by StakeAfrik
To boost user engagement and revenue in staking, StakeAfrik introduced the [CryptGain](https://twitter.com/StakeAfrik/status/1641455247112695815) Referral Rewards Programme, incentivizing users to refer others to their staking services. Referral programs help expand the staking ecosystem, driving adoption and fostering a sense of community among participants.

## The Future of Cryptocurrency Staking and StakeAfrik&#39;s Role
The future of cryptocurrency staking looks promising, with the potential for further growth and mainstream adoption driven by companies like StakeAfrik. As staking continues to gain traction, its impact on the broader cryptocurrency market will become increasingly significant. Here are some trends and developments that may shape the future of staking:

### Continued growth in PoS networks
As more blockchain projects adopt PoS, the demand for staking services will likely increase, presenting opportunities for staking-as-a-service providers like StakeAfrik to expand their offerings and cater to a more extensive user base.

### Regulatory developments
As the cryptocurrency market matures, regulatory actions will be crucial in shaping the staking future. StakeAfrik&#39;s proactive approach to regulatory compliance ensures it remains a trusted and reliable provider in the evolving landscape.

### Integration with traditional finance
As staking gains mainstream acceptance, it will likely become increasingly integrated with conventional financial products and services. StakeAfrik&#39;s expertise in the staking space positions it well to capitalize on these opportunities and bridge the gap between the cryptocurrency and traditional finance worlds.

### CryptGain
The CryptGain Referral Rewards Programme further highlights StakeAfrik&#39;s commitment to boosting user engagement and revenue in staking, demonstrating the company&#39;s dedication to staying ahead of industry trends and meeting the evolving needs of its customers.

## Conclusion
Proof of Stake and cryptocurrency staking represent transformative developments in the blockchain industry. With improved sustainability, scalability, and security, PoS has the potential to reshape the future of blockchain networks. StakeAfrik, as a leading staking-as-a-service provider, plays a crucial role in shaping this future, offering innovative solutions and fostering a strong community around staking. As you explore the world of staking, consider the opportunities presented by StakeAfrik and its innovative services to capitalize on the potential rewards of this burgeoning sector.

The Transformative Potential of Proof of Stake Blockchains...

The Transformative Potential of Proof of Stake Blockchains and Cryptocurrency Staking

Hello there! It has been a while since you last heard from us. Although we did not go AWOL, we have a good reason for the silence. We have been working on a product we believe will make staking for validators and delegating for other users much more interesting. Today, we have an MVP deployed on the MultiversX Devnet; the platform we call [CryptGain](https://cryptgain.com) and the MVP can be accessed here: [https://pub-devnet.cryptgain.com](https://pub-devnet.cryptgain.com).

CryptGain is a Referral Rewards Program (RRP) which will reward participants delegating their cryptocurrency through the StakeAfrik Staking Pool. For example, suppose a user shares CryptGain or StakeAfrik with people they know and they join using the referral link. In that case, both parties can earn the native tokens of CryptGain (cryptgains) and a proportion of the cryptocurrency rewards earned by the staking pool. This RRP effectively allows users to earn more rewards from their crypto holdings.

## Calling on Testers
The CryptGain platform is packed with a lot of great features, and many more are in the works. For example, we are currently growing our community and inviting early testers to participate in our incentivized Community Growth Campaign (CGC). The CGC is a strategy we developed to continually reward users who help grow the user base of CryptGain. The CGC will run at intervals each year after the mainnet launch of CryptGain. Before then, we planned two pre-launch CGCs: Public Devnet CGC and Crypt Devnet CGC.

### Public Devnet CGC
The [CryptGain MVP](https://pub-devnet.cryptgain.com), which is deployed at [https://pub-devnet.cryptgain.com](https://pub-devnet.cryptgain.com), will be used to run the Public Devnet CGC. The smart contracts powering it are deployed on the MultiversX Devnet Chain. This means that all the tokens used and generated will have no value; the only buy from this CGC will be the feedback provided by you as you use the platform and the referrals you invite to test the platform. Hence your requirements for this CGC are to try out the platform and provide us feedback, if any and invite people you know to do the same.

### Crypt Devnet CGC
This CGC will occur after the Public Devnet CGC. We plan to deploy the smart contracts on a private MultiversX Chain controlled by StakeAfrik. The people you invited to the Public Devnet CGC will be transferred to the Crypt Devnet CGC; hence your progress will not be lost.

## Conclusion
We wrote this article to keep you updated with our ecosystem&#39;s events. To stay in touch and ask questions, follow us on Twitter [https://twitter.com/StakeAfrik](https://twitter.com/StakeAfrik) and join our community chat on telegram https://t.me/stakeAfrik

CryptGain - The Referral Rewards Program for MultiversX EGLD...

CryptGain - The Referral Rewards Program for MultiversX EGLD Delegation/Staking

[The Elrond Blockchain](https://stakeafrik.com/blog/what-is-the-elrond-blockchain) is the most scalable blockchain platform currently. On it, users can develop decentralised apps and own smart accounts for NFTs. Since it&#39;s relatively new blockchain technology, especially for us Africans, it can feel like stepping into murky waters for most people. For instance, it can feel lonely if everyone around you doesn&#39;t talk crypto like you do. You may have lots of questions or may wonder if you&#39;re doing the right things. That&#39;s why you need to join an Elrond community as soon as possible. An Elrond community is a tribe of like-minded blockchain enthusiasts who stake eGold and want to make passive income just like you. In this article, you will learn about what an Elrond community means, the benefits you stand to gain when you join one and how to identify the community that best suits you.

Come on, let&#39;s ride together.

## What is an Elrond Community?
Today, community life is part of the Crypto and tech world. That&#39;s because people thrive in communities. Have you ever wondered what it would be like to belong to a group of people who just want the same things as you do and are working hard to make it happen? That&#39;s what community is all about. An Elrond community is no different. In it, different users come together to stake eGold, create smart accounts and build DApps on the Elrond network together. On platforms like Slack, Discord, and Telegram (this is probably the most popular), they share ideas, learn more about the market and offer support to each other. If you&#39;d like to belong to this kind of Elrond community, click [here](https://t.me/stakeafrik).

## Benefits of joining an Elrond Community
There are tons of benefits to joining crypto communities, which include but are not limited to growth, shared information, a sense of belonging and support. Are there any benefits when you join an Elrond community? Let&#39;s find out!

Below are 5 things you stand to gain when you join an Elrond community.

### 1. You never have to stake alone:
Having a group of people to stake with and discuss validators, nodes, epochs and so on can be liberating. You feel like they understand you and you get to share your concerns and fears. Staking in a community is the best feeling in the world. To learn more about staking with us, check out this blog [article](https://stakeafrik.com/blog/elronds-egold-egld-staking).

### 2. You brainstorm with others:
In an Elrond community, you get to meet fellow builders, developers and NFT enthusiasts. When you&#39;re stuck on a project or the DApp you&#39;re building, you can always brainstorm with a group member and get things going again.

### 3. You have a sense of belonging:
It&#39;s human to want to be a part of something bigger than yourself. Elrond, the internet-scale blockchain, is bigger than all of us. There&#39;s nothing cooler than belonging to a community that is committed to bringing the future to us. If you love decentralization and you identify with all the solutions Elrond provides, then an Elrond community will certainly be of great benefit to you.

### 4. You stay updated with current Elrond news/trends
By joining an Elrond community, you don&#39;t have to be on your toes about any live updates to the Elrond tech. Instead of spending valuable time scouring the internet for the latest information, you&#39;ll get it delivered to you every day.

### 5. You find fuel for your vision
It&#39;s easy to give up or think that your Dapp won&#39;t work when you&#39;re alone or speaking about your projects with people who don&#39;t understand. With the right community cheering you on, you cannot give up. Rather, you see how you can create your product, launch and scale. Our [Elrond community](https://t.me/stakeafrik) will push you through any phase you are in and give you fuel to keep your vision alive.

## Identifying the right Elrond Community
You know you&#39;re in the right Elrond Community when,


1. The admins or creators are well versed in Elrond and what it&#39;s all about.
1. There&#39;s mutual respect between the admin and members of the group.
1. The group often has honest conversations about when the market.
1. Group members don&#39;t try to &quot;force&quot; you to buy/sell when you don&#39;t want to.
1. You feel safe even when you&#39;ve never met your group members physically.

## Closing thoughts
Trading Crypto in Africa is still something most people are trying to come to terms with. Therefore, belonging to a powerful community of talented people is important. There, you will stay updated with the latest trends in the Elrond network, grow your vision and feel connected to something bigger than yourself. Joining [Africa&#39;s most brilliant Elrond Community](https://t.me/stakeafrik) and enjoying all the benefits of vibrant culture is done by clicking the [StakeAfrik Telegram group link](https://t.me/stakeafrik).

5 things you stand to gain when you join an Elrond Community

The [Elrond Network](https://stakeafrik.com/blog/read/what-is-the-elrond-blockchain) is a smart contract execution blockchain platform with guaranteed security from technological innovations such as secure proof of stake and adaptive state sharding. It is an incredible blockchain platform.

Although Elrond has been in development since 2017, it first launched in 2020. Since then, the network has been making waves in the blockchain space. Currently, its native currency, eGold, is the [38th-largest](https://coinmarketcap.com/currencies/elrond-egld/) cryptocurrency in the world. The project holds over $4 billion in market capitalization.

## What is the Elrond Network?
The Elrond Network is a blockchain platform designed to handle high volumes of transactions. Founded in 2017 with ERD as its currency, then eGLD, Elrond is currently the most scalable blockchain available. Elrond offers fast transactions and a scalable environment for enterprises and users with low transaction fees.

Keep reading to know some of its amazing features.

The Elrond Network is made of different components:

### Nodes and Users:
Users send transactions on the network. It can be a transfer of value or the execution of a smart contract. Nodes are the computers on the network that broadcasts the transactions.

### Validators:
They are special nodes that process the transactions and place them on the network&#39;s ledger (blocks) following the consensus algorithm of the elrond blockchain.

### Shards:
They are independent sections of the Elrond Network running parallel to each other. Each shard maintains its state and processes a fraction of all the transactions going through the network.

### Metachain:
The Metachain is the central shard that keeps the summary of transactions that go through other shards. It also, among other functions, serves as the origin shard for new [eGLD](https://stakeafrik.com/blog/read/elronds-egold-egld-staking) that comes into circulation.

### eGLD:
The eGLD (Elrond&#39;s eGold) is the native token of the Elrond Network. The economical use of eGLD includes staking and validator rewards, then functionally for smart contract execution and transaction fees. 

## Here are 7 exciting features you didn&#39;t know about the Elrond Network.
### 1. Adaptive State Sharding
Elrond uses sharding differently. The adaptive state sharding used by Elrond is an approach to sharding that combines **network**, **state** and **transaction** sharding uniquely and innovatively. The nodes on the elrond network are grouped into distinct shards to optimize transaction processing and broadcasting by localizing each transaction in a shard instead of the whole network. Each transaction is assigned to the shard of the address initiating the transaction. The state of the whole network is further fragmented into different shards with each shard holding a distinct fraction of the entire network.

### 2. New Digital Economy
The Elrond network aims to build a new digital economy where decentralization and scalability are vital characteristics of its blockchain structure. As a result, Elrond permits users to develop new assets (called Elrond Standard Digital Tokens, ESDT), decentralized applications, and make transactions conveniently. It also makes smart contract development easier for developers since programming languages that can compile to Web Assembly can be used to develop Elrond smart contracts.

### 3. Staking
The Elrond network is secured through staking which is enabled by the Secure Proof of Stake consensus mechanism. Through staking eGLD holders can benefit by getting staking rewards in eGLD as incentives for their activity in securing the network. This is one of the major reasons [StakeAfrik](https://stakeafrik.com) was set up; to seamlessly onboard people new to the elrond ecosystem into the staking offerings of the Elrond Blockchain.

### 4. DApp Development
The Elrond platform is also used for DApp development targeting to create a new internet economy with an ecosystem of cryptocurrencies and decentralized applications. Though not a direct feature of the Elrond blockchain, the team at Elrond has made it a breeze to set up a DApp with the many resources they provide. See [Elrond&#39;s GitHub](https://github.com/ElrondNetwork) for more.

### 5. eGold
The Elrond token is known as eGLD and can be used for staking, paying for transaction fees, and other uses. eGLD can also be bought and sold in the market of cryptocurrencies for a profit based on the difference between the trading price.

### 6. NFT support
Elrond has native support for non-fungible tokens (NFTs) through the features Smart Accounts and by adding metadata and attributes on top of the Elrond Standard Digital Token (ESDT). This native support reduces development overheads for smart contracts developers as they will not have to worry much about storage and configuration if they intend to build a smart contract with NFT support.

### 7. Maiar wallet
You can safely reserve your eGLD tokens in any of the available mainnet wallets, such as the Elrond Wallet, which comes with much lesser transaction fees and full control over your funds. Maiar is also an official eGLD wallet, supported by the Elrond blockchain. You can register your phone number with the wallet app so you can easily access your funds and activate a wallet account.

## Closing thoughts
Elrond is an efficient, scalable and inexpensive blockchain platform that provides innovative blockchain solutions. Buying and selling eGLD, or trading it for any other cryptocurrency, is done as soon as you choose a secured platform as your storage solution. Elrond is one of the most popular power blockchains that solves the issue related to slow transactions as it can execute thousands of transactions in a second, it&#39;s a highly scalable, fast, and secure blockchain platform. This amazing feature of it makes it worthwhile, more investors are pouring into the project, as evidenced by the 50% surge in trading volume presently. While other projects continue to decline through the corrective period, eGLD is boasting a 9% plus gain.

To learn more about the Elrond blockchain, join our community or stake your eGLD with us, visit our [website](https://stakeafrik.com/) or keep an eye on our [blog](https://stakeafrik.com/blog).

7 exciting features you didn't know about the Elrond Network

Elrond’s eGold (EGLD) is the cryptocurrency native to the [Elrond network](https://elrond.com). In a [previous article](https://stakeafrik.com/blog/read/what-is-the-elrond-blockchain), you saw that with cryptocurrencies you’re your bank. This means that you’re responsible for storing and securing your crypto assets. Your EGLD is not an exception. That’s why you need to learn how to safely store your EGLD tokens. In this article, you’ll find out the different ways you can store EGLD. Then, you can choose the method that is most convenient for you.

Read on to learn how to store EGLD.

## Where can you buy EGLD tokens?
Before storing your tokens, you need to buy them first. Thankfully, you can purchase EGLD on popular cryptocurrency exchanges like Binance, OKEx, Bitfinex, crypto.com and BitMax where you can trade a variety of tokens (Bitcoin, Ethereum, BNB, USDT etc.) for EGLD.

You can also buy EGLD tokens via your debit card (preferably a Master or Visa card) on the [Elrond website](https://elrond.com).
Once you purchase your EGLD token, you&#39;ll need a wallet to store it in. You need a wallet because it’s not advisable to keep cryptocurrency on an exchange. The exchange could be hacked and you’ll lose your funds. Also, you will have limited access to your funds.

## How you can store EGLD
There are different wallets where you can store your EGLD tokens.

Firstly, there&#39;s the [web wallet](https://wallet.elrond.com/) which you can access on the Elrond website. It&#39;s an online EGLD wallet that you can easily access on your browser. There, you can send, receive and store your EGLD tokens. You can also stake and claim your rewards from the wallet.

Alternatively, you can store your EGLD on a hardware wallet called Ledger Nano X. This is a safe and offline way to store your EGLD. Here, the device is connected to the official Elrond wallet, where you can send and receive your tokens and earn rewards by staking, checking your transaction history, and balance. It’s a great but expensive way to store EGLD.

There is also the Maiar wallet. It is secure and perhaps the most convenient way to store your EGLD. With the Maiar wallet, you also have complete control of and responsibility for your crypto assets. You can comfortably create an account in a few seconds and the wallet supports other tokens like BNB, ETH, and USDT, and plans to include more tokens in the future. You can buy, spend, and stake Elrond using the Maiar wallet.

Finally, there is the Maiar DeFi Wallet which just launched recently. Also powered by the Elrond network, the Maiar DeFi Wallet is like the Maiar App but for your laptop or PC. It is your browser companion for the new internet economy. The Maiar DeFi Wallet is incredibly powerful because it increases interactions with Elrond Dapps significantly. It’s faster, has a better UX, is convenient to use and is one of the greatest ways to store EGLD.

Let’s dive deeper into the various ways you can store EGLD.

### Storing your EGLD on the Elrond Web Wallet
**Follow these steps to store EGLD on the Elrond Web Wallet:**


1. Create your Elrond wallet
1. Visit the official Elrond wallet page at [https://wallet.elrond.com
](https://wallet.elrond.com) _(_***Note***_: make sure you are accessing the correct website)_
1. Read and understand the introductory steps
1. Once you’re on the wallet page, click on the CREATE WALLET button
1. Check the two checkboxes, then click on the Continue button
1. A string of 24 words would then be displayed. Neatly and accurately write them down on a piece of paper, then click on the Create Wallet button
1. The wallet will then confirm if you’ve written down the 24-word seed phrase. Fill in the correct words that are being asked, then click on the Continue button
1. Enter a secure password (A mixture of alphabets, numbers and special characters), then click on the Continue button
1. Your wallet has now been created.
1. Download and save your wallet’s Keystore file somewhere safe

**Accessing your Elrond wallet**


1. Visit the official website of the Elrond wallet at [https://wallet.elrond.com](https://wallet.elrond.com)
_(_***Caution:*** _make sure you are accessing the correct website
)_
1. Click on the ACCESS EXISTING button
1. Upload the Keystore file that you’ve downloaded recently, enter your password, and then click on the Access Wallet button
1. You will now be in the Elrond Wallet dashboard, and your EGLD wallet address will then be displayed. You can now withdraw your funds from your exchange account or buy from the website.

***Note the following pointers:***


- To view your wallet’s QR code, click on the QR code icon on the right side of your wallet address.
- Storing and accessing your funds on a web wallet isn’t recommended if you hold huge amounts of crypto. Using a hardware wallet such as the Ledger Nano X or the Maiar App is highly recommended.
- Beware of cybercriminals. Make sure you’re accessing the correct Elrond website.

### Storing your EGLD on a Ledger hardware wallet (Ledger Nano X)
The best ledger hardware wallet is the Ledger Nano X. If you don’t have one yet and you’d love to store your EGLD on a ledger hardware wallet, you can purchase one on Amazon.
After buying your Ledger hardware wallet, proceed to store EGLD following these steps:


1. Install the Elrond app on the Ledger hardware wallet
1. Download and install the latest Ledger Live version via the official Ledger website
1. Connect your Ledger device to your computer
1. Open the Ledger Live app on your computer, then click on the Settings icon
1. Click on the Manager option
1. Allow the manager on your Ledger device
1. On the app catalogue, search in “Elrond“, then click on the Install button
1. A new Elrond icon would then appear on your Ledger device
.
1. Connect your Ledger device to your computer, then open the Elrond application on your Ledger device
1. Head over [https://wallet.elrond.com](https://wallet.elrond.com)
1. Click on the ACCESS EXISTING button
1. On the Ledger tab, click on the Connect Ledger button
1. Confirm and allow the Elrond wallet to connect to your Ledger device on the Ledger device itself
1. You will now be in the Elrond Wallet dashboard, and your EGLD wallet address would then be displayed. You now can withdraw your funds from your exchange account or buy/ transfer EGLD.

***Note the following pointers:***


- To view your wallet’s QR code, click on the QR code icon on the right side of your wallet address
- Beware of cybercriminals. Make sure you’re accessing the correct Elrond website.
- Kindly update the firmware on your Ledger Nano X to the latest version.

### Storing your EGLD on the Maiar App
The Maiar App is an Elrond App Wallet. It is the most convenient way to store your EGLD.

***Here’s how to store EGLD on the Maiar app:***


1. Create an Elrond wallet using the [Maiar App](https://get.maiar.com/referral/vgvr8zlnix).
1. Then from the Maiar App download options displayed, select the one that suits your device&#39;s operating system.
1. Kindly proceed to download and install it.
1. Open the Maiar App and follow the app’s step by step registration guidelines to complete the registration process. The registration steps are also easy and self-explanatory.
1. Transfer existing tokens from the exchange or buy new ones

***Note the following pointers:***


- Please remember to save your seed phrase as it’s vital.
- Also, remember to back up using any cloud storage service of your choice.

### Storing your EGLD on the Maiar DeFi Wallet
(Note: You will need Chrome Browser for this)

***Follow the steps below to store EGLD on the Maiar DeFi Wallet:***


1. Go to the Chrome store: [https://getmaiar.com/defi](https://getmaiar.com/defi)
1. Click “Add to Chrome” and confirm that you want to add it as an extension
1. Find the Maiar DeFi Wallet option on the menu to the top right.
1. Pin it to the extension bar
1. Create a new wallet, or import the seed Phrase (24 words) of an existing one
1. Choose a strong password
1. You can then transfer your tokens from the exchange or buy new ones

***Note the following pointers:***


- You can only install the Maiar DeFi Wallet as a Chrome extension on a laptop or desktop PC. That’s okay because there’s already a Maiar app for your phone.

## Closing Thoughts
In this article, you have seen the various ways you can store EGLD. You have also learned about the features of each method. So, you can now choose the one that works best for you and start storing your EGLD comfortably. But you don’t have to do this alone. Feel free to join [the StakeAfrik community](https://t.me/stakeafrik) and read other articles on [the StakeAfrik blog](https://stakeafrik.com/blog) for more information about Elrond and EGLD. If you need help with buying, storing and staking EGLD, [contact StakeAfrik](https://t.me/stakeafrik) now.