Ontology Staking: How to Stake Ontology Fast!
What is Ontology Coin?
(If you already know what Ontology and Ontology Gas are, feel free to skip to the third section “Ontology Staking Calculator”)
Staking is one of crypto’s hottest trends, as it gives investors a way to earn crypto-based income without the technical know-how needed for mining.
This article will tell you everything you need to know about how to stake Ontology, a crypto asset that probably has one of the easiest staking processes out there!
As for what Ontology (ONT) is, ONT is the cryptocurrency that powers Ontology, a high-performance blockchain that focuses on solving issues related to identity security and data integrity (making sure data remains accurate and consistent).
Ontology lets businesses enjoy blockchain benefits like smart contracts and tokenization while still retaining control of their sensitive data. This is of course beneficial for businesses, who might be interested in the benefits of blockchain but are turned off by the public nature of it (and exposing their data to potential competitors).
For a more in-depth look at ONT, check our Ontology coin post or our YouTube video below:
Ontology vs Ontology Gas
In the Ontology ecosystem, there are actually two crypto assets: Ontology (ONT) and Ontology gas (ONG). This dual asset setup is similar to that of NEO, which happens to be created by the same team that made Ontology.
ONT gives holders governance rights (e.g. a vote on Ontology network decisions like upgrades or changes) as well as the opportunity to earn ONG passive income.
ONG is like the “gas” or “fuel” you need to use the Ontology network. When doing things like executing smart contracts, Ontology users have to pay some ONG.
Ontology Staking Calculator
Before staking ONT, you might want to use this Ontology staking calculator to estimate your potential earnings in the form of ONG.
Ontology Staking Guide: How to Stake Ontology Fast!
Now for the fun part - staking ONT!
Ontology Staking Wallet
To get started, you’ll need an Ontology staking wallet.
If you prefer something with more functionality, Exodus Ontology wallet not only lets you manage and stake your ONT/ONG but also has the following features:
- Supports 100+ crypto assets
- Focuses on premium design and ease of use
- Lets you exchange cryptos for other cryptos right from your wallet - without creating an account
- Gives you the ability to sync your wallet between desktop and mobile
- Supports the best decentralized finance (DeFi) apps like Compound Finance
- And has 24/7, fast human support if you ever need help
If you end up choosing Exodus to stake your ONT, you can start staking in a few minutes max. Here’s how:
Note: you need to pay 0.01 ONG to the Ontology network every time you want to claim ONG staking rewards. If you don’t already have some ONG, you might want to get some of that as well
3. Periodically check your Exodus wallet to claim your ONG rewards by going to your ONT or ONG wallet
Note: your claimable ONG amount only updates when you make ONT transactions. This and having to pay 0.01 ONG to claim staking rewards are features built into the Ontology network, for better or worse
3a. On desktop, click the three dots in the top right corner of your ONT or ONG wallet. Click Earn Rewards and then click Claim ONG
3b. On mobile, click the gear icon in the top right corner of your ONT or ONG wallet. Then you should see an option to claim ONG.
Looking for the latest Ontology news? Our ONT wallet page has everything you need towards the bottom of the page.
Staking has quickly emerged as a great way for crypto users to make crypto passive income with minimal setup, and Ontology staking is no exception.
This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.