How to Stake Internet Computer (ICP) for optimal returns

Introduction

Staking Internet Computer can be an excellent choice for those looking to hold ICP 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 Internet Computer (ICP) Tokens

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

   플랫폼	코인	Price
   PrimeXBT	Internet Computer (ICP)	3.02 APY
   YouHodler	Internet Computer (ICP)	3.02 APY
   Binance	Internet Computer (ICP)	3.03 APY
   Coinbase	Internet Computer (ICP)	3.02 APY
   Kraken	Internet Computer (ICP)	3.02 APY
   OKX	Internet Computer (ICP)	5.15 APY

   Check out all 54 prices

2. 2. Select a Internet Computer Wallet

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

   플랫폼	코인	Staking 보상
   Binance	Internet Computer (ICP)	Up to 3.92% APY
   Bitmart	Internet Computer (ICP)	Up to 1% APY

   Check out all 4 staking rewards available.

3. 3. Delegate Your ICP in South Korea

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

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.