How to Stake Chainlink (LINK) for optimal returns

Introduction

Staking Chainlink can be an excellent choice for those looking to hold LINK while earning APY 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 to assist you.

Step-by-Step Guide for South Korea's Financial Landscape 1

1. 1. Acquire Chainlink (LINK) Tokens

   To stake Chainlink, you first need to acquire it. To obtain Chainlink, you'll need to purchase it from a cryptocurrency exchange. You can choose from these popular platforms available in South Korea.

   플랫폼	코인	Price
   Nexo	Chainlink (LINK)	12.77 APY
   PrimeXBT	Chainlink (LINK)	12.73 APY
   YouHodler	Chainlink (LINK)	12.74 APY
   Binance	Chainlink (LINK)	12.74 APY
   BTSE	Chainlink (LINK)	12.73 APY

   Check out all 73 prices

2. 2. Select a Chainlink Wallet

   Once you have LINK, you'll need to select a Chainlink wallet to securely store your tokens. Here are some recommended options that are popular among Korean users.

   플랫폼	코인	Staking 보상
   YouHodler	Chainlink (LINK)	Up to 9% APY

3. 3. Delegate Your LINK in South Korea

   We recommend using a staking pool when staking LINK. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their LINK, increasing their chances of validating transactions and earning rewards. You can easily manage 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's confirmed, you will automatically validate transactions on the Chainlink network. For these validations, you will be rewarded with LINK.

What to Keep in Mind

You should be aware of the transaction and staking pool fees that apply. Additionally, there may be a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time in the process.