Introduction
Staking NEM can be a great option for those who want to hold XEM 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 NEM (XEM) tokens
In order to stake NEM, you need to have it. To obtain NEM, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a NEM wallet
Once you have XEM, you’ll need to choose a NEM wallet to store your tokens. Here are some good options.
- 3
Delegate your XEM
We recommend using a staking pool when staking XEM. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their XEM, 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 NEM network. You’ll be rewarded with XEM 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
NEM (XEM) is currently priced at $0.0384, with a 24-hour trading volume of $4.76M. In the last 24 hours, NEM has seen an increase to 0.58. The market cap of NEM stands at $345.39M, with 9.00B in circulation. For those looking to buy or trade NEM, reputable platforms like Binance offer avenues to do so securely and efficiently.
- Market cap
- $345.39M
- Volume
- $4.76M
- Circulating supply
- $9.00B
