Q: What is staking?
A: Staking is a way to earn rewards by holding certain cryptocurrencies. When you stake SOL, you're helping support and secure the Solana network, and in return, you receive rewards over time.
Q: What is the Solana (SOL) staking program offered by iTrustCapital?
A: The Solana (SOL) staking program allows iTrustCapital IRA clients to stake their SOL tokens within their retirement and Premium Custody accounts to earn staking rewards. Clients can deposit SOL into staking directly from their dashboards and earn rewards, which are distributed after clients choose to unstake their SOL.
Q: Who is providing the Staking program services?
A: iTrustCapital utilizes a third-party Staking Infrastructure provider, as well as an Institutional Storage Provider, for the Staking Program.
Q: How do I start staking my SOL tokens with iTrustCapital?
A: The process is initiated directly from the dashboard. To start staking, log in to your iTrustCapital dashboard and locate your SOL. From there, follow the prompts to deposit your desired amount of SOL into the staking program.
Q: How many rewards will I earn from staking Solana (SOL)?
A: Staking rewards for Solana are dynamic and vary based on several factors, including network conditions, validator performance, and overall participation rates. Because of this, the exact rewards can fluctuate over time. iTrustCapital passes through rewards based on protocol-level earnings, automatically added to your account in SOL as they accrue.
Q: Is Solana staking available in both IRA and non-IRA accounts?
A: Yes. Solana staking is available for both Crypto IRAs (including Traditional, Roth, or SEP IRAs) and Premium Custody Accounts, as long as you have SOL in your account to stake.
Q: How long does it take for my SOL to start earning staking rewards?
A: After depositing SOL into the staking program, it takes 2-3 business days for your tokens to begin earning rewards.
Q: How do I stop staking my SOL?
A: To stop staking, you can unstake your SOL directly from your iTrustCapital dashboard from the same area from which you staked.
Q: How long does it take to receive my SOL tokens and rewards after unstaking?
A: Unstaked SOL will be available in your account within 1-2 business days.
Q: What fees does iTrustCapital charge for the SOL staking program?
A: With iTrustCapital’s Solana (SOL) staking program, you can earn passive rewards on your crypto holdings within your IRA and Premium Custody Account, with iTrustCapital and its trusted third-party provider applying a competitive 22% fee on the staking rewards. Please note that the annual reward rate shown is on a “net of fee” basis, meaning it includes all applicable fees. For example, if the reward rate displayed is 6.39%, this reflects the approximate rate you will receive. All iTrustCapital and third party vendor fees have been deducted. Staking rewards offered by the third party validator are subject to change without notice.
You keep 78% of the rewards, which are seamlessly credited to your account upon unstaking. For example, if you earn $10 in SOL rewards during the staking period, your fees will be $2.20, netting you $7.80 in SOL rewards, which will be deposited back into your iTrustCapital account. Rewards will be paid out in the SOL token.
Q: What happens to my staked SOL if I want to trade or sell it during the staking period?
A: Staked tokens are locked during the staking period, so you would need to unstake before self-trading or selling your SOL.
Q: Are the staking rewards taxable within my IRA account?
A: Staking rewards earned within an IRA account generally grow tax-advantaged, meaning they are not taxed until distribution (for Traditional IRAs) or are tax-free upon qualified distribution (for Roth IRAs). However, specific tax implications depend on your IRA type and personal circumstances, so consult a tax professional for advice.
Q: What are the risks of staking SOL with iTrustCapital?
A: Staking SOL involves risks, including the speculative nature of cryptocurrencies, potential loss of value, slashing, and the possibility that rewards may vary or not be earned. Additionally, staked tokens may be locked during the staking period, limiting liquidity. Consult a financial advisor to assess if staking aligns with your investment goals.
Q: Are my SOL rewards automatically re-staked?
Rewards are not automatically re-staked at this time. To stake your earned rewards, you’d need to unstake, receive your rewards, and then stake once again.