Introduction
Staking Moonbeam can be an excellent choice for individuals in the UAE looking to hold GLMR 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 Moonbeam (GLMR) Tokens
To stake Moonbeam, you first need to acquire it. To obtain Moonbeam, you will need to purchase it from one of the popular exchanges available in the UAE.
View all 39 pricesPlatform Cryptocurrency Price Binance Moonbeam (GLMR) 0.06 BTSE Moonbeam (GLMR) 0.06 Kraken Moonbeam (GLMR) 0.06 OKX Moonbeam (GLMR) 0.09 Uphold Moonbeam (GLMR) 0.08 BingX Moonbeam (GLMR) 0.06 2. Select a Moonbeam Wallet
Once you have GLMR, you'll need to select a Moonbeam wallet to securely store your tokens. Here are some excellent options available in the UAE market.
Explore all 9 staking rewards available in the UAE market.Platform Cryptocurrency Staking rewards in the UAE Binance Moonbeam (GLMR) Up to 7.1% APY Bitpanda Moonbeam (GLMR) Up to 5% APY BTSE Moonbeam (GLMR) Up to 2.4% APY 3. Delegate Your GLMR in the UAE
We recommend utilizing a staking pool when staking GLMR. It’s more straightforward and quicker to get started. A staking pool consists of a group of validators who pool their GLMR, 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 Moonbeam network. For these validations, you will be rewarded with GLMR.
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
Moonbeam (GLMR) is currently priced at $9.12 with a 24-hour trading volume of $7.25M. The market cap of Moonbeam stands at $209.74M, with 938.85M GLMR in circulation. For those looking to buy or trade Moonbeam, Binance offers avenues to do so securely and efficiently
- Market capitalization
- $209.74M
- 24-hour trading volume
- $7.25M
- Circulating supply
- 938.85M GLMR