Introduction
Staking Shiba Inu can be a great option for those who want to hold SHIB 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 Shiba Inu (SHIB) tokens
In order to stake Shiba Inu, you need to have it. To obtain Shiba Inu, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Shiba Inu wallet
Once you have SHIB, you’ll need to choose a Shiba Inu wallet to store your tokens. Here are some good options.
- 3
Delegate your SHIB
We recommend using a staking pool when staking SHIB. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their SHIB, 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 Shiba Inu network. You’ll be rewarded with SHIB 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
Shiba Inu (SHIB) is currently priced at $0.00002489, with a 24-hour trading volume of $910.87M. In the last 24 hours, Shiba Inu has experienced a decrease to -0.64. The market cap of Shiba Inu stands at $13.35B, with 589.29T in circulation. For those looking to buy or trade Shiba Inu, reputable platforms like OKX, Binance, BTSE, Kraken, YouHodler and Nexo offer avenues to do so securely and efficiently.
- Market cap
- $13.35B
- Volume
- $910.87M
- Circulating supply
- $589.29T
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