Cold Staking Tutorial on Magnum Wallet
March 18, 2020
General information about Cold Staking:
- You can start staking at any time.
- A staking round always lasts 27 days.
- You need to keep some CLO on your wallets to cover transaction fees (generally ~1 CLO is enough).
- Please note that once you have started a staking round, you must wait until the end of the staking period (27 days) before adding funds to the staking contract, otherwise the current reward will be lost and a new round will start.
- We recommend you to withdraw the entire deposit with the reward once the staking round is completed, and then re-start the staking.
1. Open Magnum on your smartphone.
2. Tap on “My Wallets”.
3. Select your CLO wallet.
4. Tap on “Staking” to begin the process.
5. Enter the amount of CLO you want to stake, tap on “Next”, then confirm the transaction.
7. Wait until the transaction is broadcasted.
8. It’s done! All the information you need to know about your stake is now shown on the screen.
Passive income in few steps.