Staking is a safe way to benefit from owning cryptocurrencies.
Solana blockchain protocol ensures the complete safety of your funds:
- Solana Validator do not have access to your assets.
- The validator cannot refuse to pay you a staking reward – the distribution is automatic.
- You can un-delegate SOLs from validator’s node at any time, even if stake is offline. You will be able to manage your funds the next Solana epoch (2-3 days).
However, you should be aware of the security risks that apply to all digital assets in general:
- Reliable access to your wallet and responsibility for the safety of your password and seed phrase is yours alone.
- The volatility of a coin can lead to price drawdowns, that is, the equivalent of staked coins in your local currency can both rise and fall.
- Delegate coins only through known wallets. Beware of phishing and never send funds to a validator directly.