Loading Frequently asked questions about staking Merit Circle (MC)...
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Staking Merit Circle can be a great option for those who want to hold MC 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.
In order to stake Merit Circle, you need to have it. To obtain Merit Circle, you'll need to purchase it. You can choose from these popular exchanges.
Once you have MC, you’ll need to choose a Merit Circle wallet to store your tokens. Here are some good options.
We recommend using a staking pool when staking MC. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their MC, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
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 Merit Circle network. You’ll be rewarded with MC for these validations.
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.
