Introduction
Staking Polygon can be a great option for those who want to hold MATIC 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 Polygon (MATIC) tokens
In order to stake Polygon, you need to have it. To obtain Polygon, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Polygon wallet
Once you have MATIC, you’ll need to choose a Polygon wallet to store your tokens. Here are some good options.
- 3
Delegate your MATIC
We recommend using a staking pool when staking MATIC. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their MATIC, 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 Polygon network. You’ll be rewarded with MATIC 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
Polygon (MATIC) is currently priced at $0.5155, with a 24-hour trading volume of $317.74M. In the last 24 hours, Polygon has seen an increase to 3.61. The market cap of Polygon stands at $4.78B, with 9.90B in circulation. For those looking to buy or trade Polygon, reputable platforms like PrimeXBT, M2, Uphold, Wirex, EarnPark and Kraken offer avenues to do so securely and efficiently.
- Market cap
- $4.78B
- Volume
- $317.74M
- Circulating supply
- $9.90B
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