Passive income with Magnum Wallet: Cold Staking Tutorial
Passive income with cryptos, easy as 1-2-3 with Magnum Wallet and Cold Staking!
Magnum Wallet overview
Magnum Wallet is a non-custodial wallet that combines privacy and security and provides an intuitive interface to manage your $CLO and many other tokens and coins with ease.
One of the advantages of Magnum Wallet is that it natively supports Cold Staking and therefore allows you to earn passive income with your favorite crypto in just a few steps!
To download Magnum Wallet click here!
Cold Staking information
- 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.
Passive income with Magnum Wallet and Cold Staking Tutorial
1. Open Magnum Wallet on your smartphone.
2. Tap on “My Wallets”.
3. Select your Callisto wallet.
4. Tap on “Staking” to begin the process.
5. Enter the amount of CLO you want to stake and tap on “Next”, then confirm the transaction.
7. Wait until the transaction is broadcasted.
8. It’s done! Your passive income will be available in 27 days and all the information you need to know about your stake is now shown on the screen, your passive income will be available in 27 days.
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