Can someone please explain staking to me?

I'm pretty new to this space and don't completely understand how staking works. I just bought £50 of Cosmos on Coinbase from the 'Earn Rewards' section since it says there's a 5% reward. What does that actually mean? Does it mean that in a years time I'll get 5% interest on my current Cosmos balance?

If that's the case that's really fucking cool and does anyone know some other platforms/ways I can stake coins?