How to Unstake on Crypto.com: A Comprehensive Guide
Hey there, readers!
Are you curious about unstaking your crypto on Crypto.com? Whether you’re a seasoned pro or a crypto newbie, we’ve got you covered. This comprehensive guide will walk you through every step of the unstaking process, making it a breeze.
Delving into the Details
Understanding Staking and Unstaking
Staking involves locking up your crypto assets for a specific period, supporting the blockchain network and earning rewards in return. Unstaking is the process of withdrawing these assets back into your control. On Crypto.com, you can stake various cryptocurrencies, including CRO, ETH, and BTC.
The Unstaking Process on Crypto.com
1. Accessing the Unstaking Section
Start by logging into your Crypto.com account and navigating to the “Earn” section. Under the “Crypto Earn” tab, you’ll find a list of your staked assets.
2. Selecting and Unstaking
Choose the asset you wish to unstake and click the “Unstake” button. If applicable, you may need to confirm the amount and duration of your unstake.
3. Confirming the Unstaking
Review the details of your unstaking request and click “Confirm” to proceed. Depending on the asset and duration, there may be an unbonding period before your assets become available.
Additional Considerations
Flexible and Fixed Terms
Crypto.com offers both flexible and fixed staking options. Flexible staking allows you to unstake your assets at any time without penalty. Fixed staking requires you to lock up your assets for a predetermined period and may incur a fee if you unstake early.
Earning Rewards During Unstaking
In some cases, you may continue to earn rewards on your staked assets during the unbonding period, even after you’ve initiated the unstaking process. However, this depends on the specific asset and staking terms.
Benefits of Unstaking
Liquidity and Control
Unstaking gives you back control over your crypto assets. You can sell, trade, or use them as you wish. It provides liquidity when you need access to your funds.
Staking Rewards
If you’re unstaking flexible assets, you can restake them immediately to continue earning rewards. This allows you to maximize your earnings potential.
Breakdown of Unstaking Periods
| Asset | Flexible Term | Fixed Term |
|---|---|---|
| CRO | No minimum | 1 month, 3 months, 6 months |
| ETH | 7 days minimum | 1 month, 3 months, 6 months |
| BTC | 7 days minimum | 30 days, 90 days, 180 days |
Conclusion
Unstaking on Crypto.com is a straightforward process that gives you control over your crypto assets. By following the steps outlined in this guide, you can easily unstake your funds and enjoy the benefits it offers. Remember to explore our other articles for more insights into crypto staking and earning rewards.
FAQ about How to Unstake on Crypto.com
How do I unstake my CRO?
To unstake your CRO, navigate to the “Earn” page on the Crypto.com app, select “Staked CRO,” and click “Unstake.” Confirm the unstaking amount and click “Confirm Unstake.”
How long does it take to unstake CRO?
The unstaking process takes 28 days. After the 28-day period, your CRO will be unlocked and available for use.
Can I restake my CRO immediately after unstaking?
Yes, you can restake your CRO immediately after the unstaking period ends.
Is there a fee for unstaking CRO?
No, there is no fee for unstaking CRO.
Where can I see my unstaking status?
You can view your unstaking status by going to the “Earn” page on the Crypto.com app and selecting “Staked CRO.”
What happens to my rewards if I unstake my CRO?
Your rewards will be calculated up until the date of unstaking. You will receive your rewards at the end of the then-current reward cycle.
Can I unstake a portion of my CRO?
No, you can only unstake the entire amount of CRO that you have staked.
What is the minimum amount of CRO I can unstake?
The minimum amount of CRO you can unstake is 10 CRO.
What happens if I unstake my CRO before the end of the 28-day period?
If you unstake your CRO before the end of the 28-day period, you will forfeit all accrued rewards.
How do I access my CRO after unstaking?
Once the unstaking period is complete, your CRO will be available in your Crypto.com wallet.