ICP HOLDERS - How to stake ICP for crypto passive income - Internet Computer Protocol overview
I give a high-level overview of the Internet Computer project and two ways to make crypto passive income staking ICP
1. Staking the ICP token - Advanced
You will need to purchase ICP on an exchange and then create your internet identity. Once you have your identity anchor number you will be able to log into the network nervous system dapp. From there you can send your ICP tokens from the exchange to your profile on the NNS. After they arrive you can stake them and you will need to wait six months before being able to vote on proposals which give you the rewards.
2. Setting up a node to become a node operator - This is for an expert or highly technical person
Wasn't able to identify how much rewards you would receive by setting up a node.
*This is a very complex projects and should only be attempted by experience web3 or crypto users.
Chapters
0:00 Intro
0:13 Internet Computer Project Overview
3:09 Chain-Key Cryptography
3:57 Staking ICP
4:44 Setting up an Identity Anchor
5:13 Network Nervous System
7:12 Setting up a Node
7:49 Recap
*There are risks to staking including vulnerabilities in people and in their code. None of the information in this video is financial advice. All of it is for educational purposes only. Please, do your own research