Introduction
Staking Solar can be a great option for those who want to hold SXP 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 Solar (SXP) tokens
In order to stake Solar, you need to have it. To obtain Solar, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Solar wallet
Once you have SXP, you’ll need to choose a Solar wallet to store your tokens. Here are some good options.
- 3
Delegate your SXP
We recommend using a staking pool when staking SXP. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their SXP, 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 Solar network. You’ll be rewarded with SXP 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
Solar (SXP) is currently priced at $0.3435, with a 24-hour trading volume of $12.40M. In the last 24 hours, Solar has seen an increase to 2.26. The market cap of Solar stands at $195.63M, with 602.41M in circulation. For those looking to buy or trade Solar, reputable platforms like Binance offer avenues to do so securely and efficiently.
- Market cap
- $195.63M
- Volume
- $12.40M
- Circulating supply
- $602.41M
