Introduction
Staking Hedera can be a great choice for those who want to hold HBAR but earn yield in a secure way while contributing to the network. The steps can be a little overwhelming, especially the first time you go through them. That’s why we’ve put this guide together for you.
Step-by-step Guide
1. Get Hedera (HBAR) Tokens
To stake Hedera, you need to have it. To obtain Hedera, you'll need to purchase it. You can choose from these popular exchanges.
See all 50 pricesPlatform Loonies Price Uphold Hedera (HBAR) 0.18 OKX Hedera (HBAR) 0.18 Binance Hedera (HBAR) 0.18 Coinbase Hedera (HBAR) 0.19 MEXC Global Hedera (HBAR) 0.19 Bitget Hedera (HBAR) 0.19 2. Select a Hedera Wallet
Once you have HBAR, you’ll need to choose a Hedera wallet to store your tokens. Here are some good options.
See all 6 staking rewardsPlatform Loonies Staking rewards Uphold Hedera (HBAR) Up to 0.05% annual percentage yield Stader Hedera (HBAR) Up to 5.76% annual percentage yield 3. Delegate Your HBAR
We recommend using a staking pool when staking HBAR. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their HBAR, 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 Hedera network. You'll be rewarded with HBAR 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
Hedera (HBAR) is currently priced at US$0.05 with a 24-hour trading volume of US$518.74M. The market cap of Hedera is currently at US$10.43B, with 38.26B HBAR in circulation. For those interested in buying or trading Hedera, Uphold offers ways to do so securely and efficiently
- Market capitalization
- US$10.43B
- 24h volume
- US$518.74M
- Circulating supply
- 38.26B HBAR
Frequently Asked Questions About Staking Hedera (HBAR)}
- What is Hedera (HBAR) and how does it function?
- Hedera is a decentralized public network that utilizes unique Directed Acyclic Graph (DAG) technology to enable fast and secure transactions. Unlike traditional blockchains, Hedera allows for high throughput and low latency, making it suitable for applications that require scalability. The network aims to provide a stable and efficient infrastructure for decentralized applications (dApps) and is governed by a council of global enterprises, ensuring reliability and transparency in its operations.
- What are the key features of Hedera's consensus mechanism?
- Hedera employs a unique consensus mechanism known as Hashgraph, which combines a gossip protocol with virtual voting. This approach allows for fast and efficient transaction validation without the energy-intensive processes typical of traditional proof-of-work systems. The result is high throughput, low latency, and enhanced security, enabling Hedera to process thousands of transactions per second while maintaining a fair and decentralized network governance structure through its governing council.
- How can users obtain Hedera (HBAR) tokens?
- Users can acquire Hedera (HBAR) tokens through various methods, including cryptocurrency exchanges that support HBAR trading. Popular platforms such as Coinbase and SwissBorg offer options for purchasing, trading, and holding HBAR. Additionally, users can earn HBAR tokens by participating in staking or by integrating with decentralized applications (dApps) on the Hedera network. It is essential to choose reputable exchanges and wallets for secure transactions and storage of HBAR tokens.
- What are the primary use cases for Hedera (HBAR)?
- Hedera (HBAR) supports a variety of use cases, including decentralized finance (DeFi), supply chain management, and digital identity verification. Its fast transaction speeds and low fees make it ideal for applications requiring real-time data processing, such as micropayments and gaming. Additionally, Hedera's unique consensus mechanism enhances security, enabling businesses and developers to build scalable dApps that can handle high transaction volumes while maintaining data integrity and transparency.
- Who governs the Hedera network, and how is it structured?
- The Hedera network is governed by the Hedera Governing Council, which consists of leading global enterprises from various sectors, including technology, finance, and telecommunications. This council is responsible for making key decisions regarding the network's development, operations, and policies. By having a diverse group of council members, Hedera aims to ensure decentralization and stability, providing a reliable framework for the growth of the ecosystem while fostering collaboration among its stakeholders.
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