How to Stake Chainlink (LINK): A Step-by-Step Guide

Introduction

Staking Chainlink can be a great option for those who want to hold LINK but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. Obtain Chainlink (LINK) Tokens
In order to stake Chainlink, you need to have it. To obtain Chainlink, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Nexo Chainlink (LINK) 20,15
PrimeXBT Chainlink (LINK) 20,07
M2 Chainlink (LINK) 20,08
Uphold Chainlink (LINK) 20,07
OKX Chainlink (LINK) 20,09
YouHodler Chainlink (LINK) 20,08
See all 37 prices
2. Choose a Chainlink Wallet
Once you have LINK, you’ll need to choose a Chainlink wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
YouHodler Chainlink (LINK) Up to 9 APY
3. Delegate Your LINK
We recommend using a staking pool when staking LINK. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their LINK, 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 Chainlink network. You’ll be rewarded with LINK for these validations.

Platform	Coin	Price
Nexo	Chainlink (LINK)	20,15
PrimeXBT	Chainlink (LINK)	20,07
M2	Chainlink (LINK)	20,08
Uphold	Chainlink (LINK)	20,07
OKX	Chainlink (LINK)	20,09
YouHodler	Chainlink (LINK)	20,08

Platform	Coin	Staking rewards
YouHodler	Chainlink (LINK)	Up to 9 APY

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

Chainlink (LINK) is currently priced at US$9 with a 24-hour trading volume of US$1.13B. The market cap of Chainlink stands at US$12.75B, with US$631.1M LINK in circulation. For those looking to buy or trade Chainlink, YouHodler offers avenues to do so securely and efficiently}

Market cap: US$12.75B
24h volume: US$1.13B
Circulating supply: US$631.1M

See latest information

Frequently Asked Questions About Staking Chainlink (LINK)

What is Chainlink (LINK) staking?: Chainlink staking involves locking up LINK tokens to support network security and operations, potentially earning rewards in return. This process enables participants to be part of the Chainlink ecosystem.
How can I earn staking rewards with Chainlink?: To earn staking rewards, you must stake LINK tokens on a platform that supports Chainlink staking. It's crucial to stay informed about reputable platforms by using Bitcompare for real-time data and metrics.
Do I need technical knowledge to stake LINK?: While some understanding of crypto is beneficial, many platforms simplify staking, allowing you to participate with minimal technical knowledge. Bitcompare helps you choose user-friendly platforms for staking.
How often are staking rewards distributed?: Staking reward distribution frequency varies by platform. It's important to check the terms on your chosen platform and stay updated with Bitcompare for any changes in distribution schedules.
Are there risks associated with staking LINK?: Yes, staking involves risks such as slashing and market volatility. Keeping informed through tools like Bitcompare can help manage these risks by providing insights into current market conditions.
Can I withdraw my LINK tokens anytime during staking?: Withdrawal policies differ by platform; some may impose lock-up periods. Stay updated with your platform's policies using Bitcompare's real-time comparison tools to make informed decisions.
How do I choose the best platform for staking LINK?: Consider factors like fees, reward rates, and platform security. Utilize Bitcompare's tools for comprehensive comparisons of top exchanges and platforms to select the best option for you.
Is staking LINK a good investment?: Staking LINK can be beneficial, but it involves risks. It is advisable to stay informed and use Bitcompare's tools to evaluate market trends and platform offerings without considering this as financial advice.
Why should I use Bitcompare for Chainlink updates?: Bitcompare provides valuable tools like real-time price comparisons, sentiment analysis, and news events. By checking regularly and setting alerts, you can make informed staking decisions.