Introduction
Staking Bitcoin can be a great option for those who want to hold BTC 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 Bitcoin (BTC) tokens
In order to stake Bitcoin, you need to have it. To obtain Bitcoin, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Bitcoin wallet
Once you have BTC, you’ll need to choose a Bitcoin wallet to store your tokens. Here are some good options.
- 3
Delegate your BTC
We recommend using a staking pool when staking BTC. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their BTC, 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 Bitcoin network. You’ll be rewarded with BTC 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
Bitcoin (BTC) is currently priced at $63,402, with a 24-hour trading volume of $17.38B. In the last 24 hours, Bitcoin has experienced a decrease to -1.07. The market cap of Bitcoin stands at $1.26T, with 19.69M in circulation. For those looking to buy or trade Bitcoin, reputable platforms like OKX, Binance, BTSE, Kraken, YouHodler and EarnPark offer avenues to do so securely and efficiently.
- Market cap
- $1.26T
- Volume
- $17.38B
- Circulating supply
- $19.69M
