Introduction

Staking FYDcoin can be an excellent option for those who wish to hold FYD while earning AER in a secure manner and contributing to the network. The process may seem a bit overwhelming, particularly the first time you undertake it. That's why we've compiled this guide for you.

Step-by-Step Guide

1. 1. Obtain FYDcoin (FYD) Tokens

   To stake FYDcoin, you need to possess it. To obtain FYDcoin, you'll need to purchase it. You can choose from these popular exchanges.

2. 2. Choose a FYDcoin Wallet

   Once you have FYD, you'll need to choose a FYDcoin wallet to store your tokens. Here are some suitable options.

3. 3. Delegate Your FYD

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

4. 4. Start Validating

   You will need to wait for your deposit to be confirmed by your wallet. Once it is confirmed, you will automatically validate transactions on the FYDcoin network. You will be rewarded with FYD for these validations.

What to Be Aware Of

There are transaction and staking pool fees you need to consider. There may also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.