# Staking Pools

## **What are Staking Pools?**

* **Purpose:** Groups of users combine their crypto holdings to increase their chances of validating transactions and earning rewards.
* **Benefit:** Even those with a smaller amount of cryptocurrency can participate and earn rewards.

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## **How to Get Started with Staking**

{% hint style="info" %}
**Available Tokens:** KoinBay offers staking for KBT and USDT.
{% endhint %}

1. **Choose Staking Product:**
   * Navigate to the Staking page.
   * Select the asset and lock period.
   * Review the estimated APY, lock period, and minimum amount.
   * Note that staked assets will be locked and cannot be withdrawn or transacted with during the staking period.
2. **Subscribe:**
   * Enter the amount you want to stake.
   * Confirm by clicking 'Agree to PoS'.
   * Interest starts accumulating from 00:00 (UTC) of the following day.
   * Rewards are distributed weekly to your Fiat and Spot Wallet.
3. **Tracking:**
   * Check 'Pending', 'Processing', and 'Finished' staking operations.
   * View staking history under 'Staking Report' or 'Financial Account'.

### **What is Locked Staking?**

* **Process:** Locking digital assets on a Proof of Stake blockchain.
* **Rewards:** Earn staking rewards for contributing to the network.
* **Ease of Use:** KoinBay handles the technical requirements.

### **Rewards and Redemption**

* **Accrual of Rewards:** Interest begins from the start date and is distributed daily.
* **Redemption:**
  * Assets are redeemed after the staking period.
  * Unlocking takes about 48-72 hours due to time zone differences.
  * Principal withdrawal is only possible on the release date, but interest can be withdrawn anytime.


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