Introduction
Staking Beefy Finance can be a great option for those who want to hold BIFI but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-step
- 1
Obtain Beefy Finance (BIFI) tokens
In order to stake Beefy Finance, you need to have it. To obtain Beefy Finance, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Beefy Finance wallet
Once you have BIFI, you’ll need to choose a Beefy Finance wallet to store your tokens. Here are some good options.
- 3
Delegate your BIFI
We recommend using a staking pool when staking BIFI. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their BIFI, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
- 4
Start validating
You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the Beefy Finance network. You’ll be rewarded with BIFI for these validations.
What to be aware of
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
Latest movements
Beefy Finance (BIFI) is currently priced at $378.5, with a 24-hour trading volume of $2.32M. In the last 24 hours, Beefy Finance has seen an increase to 0.08. The market cap of Beefy Finance stands at $30.16M, with 80K in circulation. For those looking to buy or trade Beefy Finance, reputable platforms like Binance offer avenues to do so securely and efficiently.
- Market cap
- $30.16M
- Volume
- $2.32M
- Circulating supply
- $80K
