How do you stake PIVX?

Can you elaborate on the process of staking PIVX? What are the necessary steps to begin staking and what kind of hardware or software is required? Is there a minimum amount of PIVX needed to start staking? How does the staking process work and how often do rewards get distributed? Also, what are the risks and benefits associated with staking PIVX? Lastly, how does staking contribute to the security and decentralization of the PIVX network?