How to Stake MultiversX (EGLD) in the UAE

Introduction

Staking MultiversX can be an excellent choice for individuals in the UAE looking to hold EGLD 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. 1. Acquire MultiversX (EGLD) Tokens

   To stake MultiversX, you first need to acquire it. To obtain MultiversX, you will need to purchase it from one of the popular exchanges available in the UAE.

   Platform	Cryptocurrency	Price
   PrimeXBT	MultiversX (EGLD)	6.19
   YouHodler	MultiversX (EGLD)	6.2
   Binance	MultiversX (EGLD)	6.2
   BTSE	MultiversX (EGLD)	6.2
   Coinbase	MultiversX (EGLD)	6.18
   Kraken	MultiversX (EGLD)	6.2

   View all 53 prices

2. 2. Select a MultiversX Wallet

   Once you have EGLD, you'll need to select a MultiversX wallet to securely store your tokens. Here are some excellent options available in the UAE market.

   Platform	Cryptocurrency	Staking rewards in the UAE
   Atomic Wallet	MultiversX (EGLD)	Up to 9.4% APY
   Binance	MultiversX (EGLD)	Up to 3.1% APY
   Bitget	MultiversX (EGLD)	Up to 8.5% APY

   Explore all 13 staking rewards available in the UAE market.

3. 3. Delegate Your EGLD in the UAE

   We recommend utilizing a staking pool when staking EGLD. It’s more straightforward and quicker to get started. A staking pool consists of a group of validators who pool their EGLD, increasing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 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 MultiversX network. For these validations, you will be rewarded with EGLD.

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.