Introduction
Staking BVM can be a great option for those who want to hold BVM 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 BVM (BVM) tokens
In order to stake BVM, you need to have it. To obtain BVM, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a BVM wallet
Once you have BVM, you’ll need to choose a BVM wallet to store your tokens. Here are some good options.
- 3
Delegate your BVM
We recommend using a staking pool when staking BVM. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their BVM, 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 BVM network. You’ll be rewarded with BVM 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.
