How to Stake Filecoin (FIL) in Australia

Introduction

Staking Filecoin can be a great option for those who want to hold FIL while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.

Step-by-Step Guide

1. 1. Obtain Filecoin (FIL) Tokens

   To stake Filecoin, you need to own it. To obtain Filecoin, you'll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Cost
   PrimeXBT	Filecoin (FIL)	1.34
   YouHodler	Filecoin (FIL)	1.34
   Binance	Filecoin (FIL)	1.34
   BTSE	Filecoin (FIL)	1.34
   OKX	Filecoin (FIL)	1.35
   Uphold	Filecoin (FIL)	2.66

   See all 46 prices

2. 2. Choose a Filecoin Wallet

   Once you have FIL, you'll need to choose a Filecoin wallet to store your tokens. Here are some great options.

   Platform	Coin	Staking returns
   YouHodler	Filecoin (FIL)	Up to 7% % p.a.
   Binance	Filecoin (FIL)	Up to 2.5% % p.a.
   Bitmart	Filecoin (FIL)	Up to 0.6% % p.a.

   View all 6 staking rewards

3. 3. Delegate Your FIL

   We recommend using a staking pool when staking FIL. It's simpler and quicker to get started. A staking pool is a group of validators who combine their FIL, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Begin Validation

   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 Filecoin network. You'll be rewarded with FIL for these validations.

What to Be Aware Of

There are transaction and staking pool fees to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.