Where and how to stake Reddcoin (RDD)

Introduction

Staking Reddcoin can be a great option for those who wish to hold RDD while earning yield in a safe manner and contributing to the network. The steps can be somewhat daunting, especially the first time you do them. That’s why we have put together this guide for you.

Step-by-Step Guide

1. 1. Acquire Reddcoin (RDD) Tokens

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

2. 2. Select a Reddcoin Wallet

   Once you have RDD, you’ll need to choose a Reddcoin wallet to store your tokens. Here are some good options.

   Platform	Coin	Staking rewards
   MyCointainer	Reddcoin (RDD)	Up to 5.2% APY

3. 3. Delegate Your RDD

   We suggest using a staking pool for staking RDD. It's easier and quicker to get started. A staking pool is a collection of validators who combine their RDD, which increases their odds of validating transactions and earning rewards. You can do this through your wallet’s interface.

4. 4. Start Validating

   You'll have to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the Reddcoin network. You'll be rewarded with RDD for these validations.

What to Keep in Mind

You need to keep in mind the transaction and staking pool fees. Additionally, there might be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this can take a while.