Introduction
Staking First Digital USD can be an excellent choice for individuals in the UAE looking to hold FDUSD while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-time users. That’s why we’ve created this guide to assist you.
Step-by-Step Guide for UAE Residents
1. Acquire First Digital USD (FDUSD) Tokens
To stake First Digital USD, you first need to acquire it. To obtain First Digital USD, you will need to purchase it from one of the popular exchanges available in the UAE.
2. Select a First Digital USD Wallet
Once you have FDUSD, you'll need to select a First Digital USD wallet to securely store your tokens. Here are some excellent options available in the UAE market.
Platform Cryptocurrency Staking rewards in the UAE Binance First Digital USD (FDUSD) Up to 16.2% APY 3. Delegate Your FDUSD in the UAE
We recommend utilizing a staking pool when staking FDUSD. It’s more straightforward and quicker to get started. A staking pool consists of a group of validators who pool their FDUSD, increasing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
4. Begin Verification
You will need to wait for your deposit to be confirmed by your digital wallet. Once it's confirmed, you will automatically validate transactions on the First Digital USD network. For these validations, you will be rewarded with FDUSD.
What to Consider in the UAE Market
In the UAE, it's important to factor in transaction and staking pool fees when engaging in cryptocurrency activities. Additionally, you may experience a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take some time to accomplish.
Recent Developments
First Digital USD (FDUSD) is currently priced at $16.2 with a 24-hour trading volume of $6.67B. The market cap of First Digital USD stands at $1.79B, with 1.79B FDUSD in circulation. For those looking to buy or trade First Digital USD, Binance offers avenues to do so securely and efficiently
- Market capitalization
- $1.79B
- 24-hour trading volume
- $6.67B
- Circulating supply
- 1.79B FDUSD
