How to Stake Flare (FLR) for optimal returns

Introduction

Staking Flare can be an excellent choice for those looking to hold FLR 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 Flare (FLR) Tokens

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

   플랫폼	코인	Price
   YouHodler	Flare (FLR)	0.01 APY
   Coinbase	Flare (FLR)	0.01 APY
   Kraken	Flare (FLR)	0.01 APY
   OKX	Flare (FLR)	0.02 APY
   Uphold	Flare (FLR)	0.02 APY
   BingX	Flare (FLR)	0.01 APY

   Check out all 42 prices

2. 2. Select a Flare Wallet

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

   플랫폼	코인	Staking 보상
   Uphold	Flare (FLR)	Up to 5.07% APY
   CEX.io	Flare (FLR)	Up to 5% APY

   Check out all 4 staking rewards available.

3. 3. Delegate Your FLR in South Korea

   We recommend using a staking pool when staking FLR. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their FLR, 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 Flare network. For these validations, you will be rewarded with FLR.

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.