Introduction
Staking Komodo can be a great option for those who want to hold KMD 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 Komodo (KMD) tokens
In order to stake Komodo, you need to have it. To obtain Komodo, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Komodo wallet
Once you have KMD, you’ll need to choose a Komodo wallet to store your tokens. Here are some good options.
- 3
Delegate your KMD
We recommend using a staking pool when staking KMD. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their KMD, 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 Komodo network. You’ll be rewarded with KMD 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
Komodo (KMD) is currently priced at $0.3996, with a 24-hour trading volume of $3.03M. In the last 24 hours, Komodo has experienced a decrease to -1.36. The market cap of Komodo stands at $52.58M, with 135.95M in circulation. For those looking to buy or trade Komodo, reputable platforms like Binance offer avenues to do so securely and efficiently.
- Market cap
- $52.58M
- Volume
- $3.03M
- Circulating supply
- $135.95M
