Introduction
Staking DeFiChain can be a great option for those who want to hold DFI 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 DeFiChain (DFI) tokens
In order to stake DeFiChain, you need to have it. To obtain DeFiChain, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a DeFiChain wallet
Once you have DFI, you’ll need to choose a DeFiChain wallet to store your tokens. Here are some good options.
- 3
Delegate your DFI
We recommend using a staking pool when staking DFI. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their DFI, 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 DeFiChain network. You’ll be rewarded with DFI 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
DeFiChain (DFI) is currently priced at $0.0613, with a 24-hour trading volume of $4.38M. In the last 24 hours, DeFiChain has experienced a decrease to -0.51. The market cap of DeFiChain stands at $52.66M, with 875.01M in circulation. For those looking to buy or trade DeFiChain, reputable platforms like Bake offer avenues to do so securely and efficiently.
- Market cap
- $52.66M
- Volume
- $4.38M
- Circulating supply
- $875.01M
