Introduction
Staking Filecoin can be a great option for those who want to hold FIL 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 Filecoin (FIL) tokens
In order to stake Filecoin, you need to have it. To obtain Filecoin, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Filecoin wallet
Once you have FIL, you’ll need to choose a Filecoin wallet to store your tokens. Here are some good options.
- 3
Delegate your FIL
We recommend using a staking pool when staking FIL. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their FIL, 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 Filecoin network. You’ll be rewarded with FIL 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
Filecoin (FIL) is currently priced at $6.05, with a 24-hour trading volume of $203.61M. In the last 24 hours, Filecoin has seen an increase to 0.26. The market cap of Filecoin stands at $3.31B, with 548.15M in circulation. For those looking to buy or trade Filecoin, reputable platforms like OKX, Binance, BTSE, Kraken, YouHodler and Coinbase offer avenues to do so securely and efficiently.
- Market cap
- $3.31B
- Volume
- $203.61M
- Circulating supply
- $548.15M
