Introduction
Staking MultiversX can be an excellent choice for those looking to hold EGLD while earning returns in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this guide specifically for you.
Step-by-Step Guide for Indian Investors
1. Acquire MultiversX (EGLD) Tokens in India
To stake MultiversX, you first need to acquire it. To obtain MultiversX, you will have to purchase it from a cryptocurrency exchange. You can select from these popular platforms available in India.
See all 53 ratesPlatform Coin Cost PrimeXBT MultiversX (EGLD) 13.76 YouHodler MultiversX (EGLD) 13.78 Binance MultiversX (EGLD) 13.78 BTSE MultiversX (EGLD) 13.76 Coinbase MultiversX (EGLD) 13.77 Kraken MultiversX (EGLD) 13.76 2. Choose a MultiversX Wallet in India
Once you have EGLD, you'll need to choose a MultiversX wallet to securely store your tokens. Here are some reliable options available in India.
View all 13 staking rewards available in IndiaPlatform Coin Staking rewards in India 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 3. Delegate Your EGLD in India
We recommend using a staking pool when staking EGLD. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their EGLD, increasing their chances of validating transactions and earning rewards. You can easily do this through your wallet's interface.
4. Start Validating
You will need to wait for your deposit to be confirmed by your 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 Keep in Mind
When engaging in staking, it's important to factor in transaction fees and staking pool charges. Additionally, there may be a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take some time to accomplish.
Latest Trends in India
MultiversX (EGLD) is currently priced at $9.31 with a 24-hour trading volume of $3.98Cr. The market cap of MultiversX stands at $91.72Cr, with 2.78Cr EGLD in circulation. For those looking to buy or trade MultiversX, Atomic Wallet offers avenues to do so securely and efficiently
- Market capitalization
- $91.72Cr
- 24-hour trading volume
- $3.98Cr
- Circulating supply in the market
- 2.78Cr EGLD
Frequently Asked Questions About Staking MultiversX (EGLD) in India
- What are the staking rewards for MultiversX (EGLD)?
- Staking rewards for MultiversX (EGLD) vary, with a total of seven rates currently available. The highest staking reward can be found on Atomic Wallet, although the specific percentage is not disclosed. Staking allows EGLD holders to earn rewards by participating in the network's security and operations, contributing to its overall functionality. To stay updated on the latest offers and rates, consider checking Bitcompare regularly.
- How can I participate in staking MultiversX (EGLD)?
- To stake MultiversX (EGLD), you first need to hold EGLD tokens in a compatible wallet, such as Atomic Wallet or other wallets that support staking. Once you have your tokens, navigate to the staking section of your wallet or a staking platform. Follow the instructions to delegate your tokens to a validator, which helps secure the network. In return, you will earn staking rewards based on the amount staked and the rewards rate, which can fluctuate. Regularly check Bitcompare for the latest staking opportunities.
- What factors influence the staking rewards for MultiversX (EGLD)?
- Staking rewards for MultiversX (EGLD) are influenced by several factors, including the total amount of EGLD staked, the performance of the delegated validator, and overall network activity. Additionally, the reward rates can fluctuate based on the supply and demand dynamics within the ecosystem. It is essential to monitor these variables regularly to maximize your staking benefits. For real-time updates and comparisons, check Bitcompare’s resources frequently.
- Are there any risks associated with staking MultiversX (EGLD)?
- Yes, staking MultiversX (EGLD) does come with certain risks. These include the potential for slashing, where a portion of your staked tokens may be forfeited if the validator to whom you delegated acts maliciously or goes offline frequently. Additionally, staking can involve locking your tokens for a specified period, which limits your liquidity. It is crucial to choose a reputable validator and stay informed about network updates. For detailed comparisons of staking options, visit Bitcompare regularly.
- How often are staking rewards distributed for MultiversX (EGLD)?
- Staking rewards for MultiversX (EGLD) are typically distributed regularly, often at the end of each epoch or block cycle. The exact frequency can vary depending on the validator and the specific staking platform you use. Generally, rewards are automatically credited to your staking balance, allowing you to compound your earnings. To stay informed about the latest reward distributions and rates, check Bitcompare’s resources frequently for the most accurate information.
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