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