How to Stake NEAR Protocol (NEAR): A Step-by-Step Guide

Introduction

Staking NEAR Protocol can be a great option for those who want to hold NEAR but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. Obtain NEAR Protocol (NEAR) Tokens
In order to stake NEAR Protocol, you need to have it. To obtain NEAR Protocol, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Nexo NEAR Protocol (NEAR) 3.16
PrimeXBT NEAR Protocol (NEAR) 3.15
M2 NEAR Protocol (NEAR) 3.15
Uphold NEAR Protocol (NEAR) 3.11
OKX NEAR Protocol (NEAR) 3.15
YouHodler NEAR Protocol (NEAR) 3.15
See all 59 prices

Platform	Coin	Price
Nexo	NEAR Protocol (NEAR)	3.16
PrimeXBT	NEAR Protocol (NEAR)	3.15
M2	NEAR Protocol (NEAR)	3.15
Uphold	NEAR Protocol (NEAR)	3.11
OKX	NEAR Protocol (NEAR)	3.15
YouHodler	NEAR Protocol (NEAR)	3.15

2. Choose a NEAR Protocol Wallet

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

Platform	Coin	Staking rewards
Uphold	NEAR Protocol (NEAR)	Up to 5.9 APY
YouHodler	NEAR Protocol (NEAR)	Up to 12 APY
MyCointainer	NEAR Protocol (NEAR)	Up to 7.04 APY
Bitget	NEAR Protocol (NEAR)	Up to 9 APY
Binance	NEAR Protocol (NEAR)	Up to 4.9 APY

See all 31 staking rewards

3. Delegate Your NEAR
We recommend using a staking pool when staking NEAR. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their NEAR, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
4. Start Validating
You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the NEAR Protocol network. You’ll be rewarded with NEAR for these validations.

What to be Aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.

Latest Movements

NEAR Protocol (NEAR) is currently priced at $9.92 with a 24-hour trading volume of $324.7M. The market cap of NEAR Protocol stands at $5.89B, with 1.17B NEAR in circulation. For those looking to buy or trade NEAR Protocol, Uphold offers avenues to do so securely and efficiently}

Market cap: $5.89B
24h volume: $324.7M
Circulating supply: 1.17B NEAR

See latest information

Frequently Asked Questions About Staking NEAR Protocol (NEAR)

What are staking rewards in Near Protocol?: Staking rewards in Near Protocol are incentives earned by delegating your NEAR tokens to a validator who secures the network. It's a way to earn passive income while supporting the blockchain's operations.
How are NEAR staking rewards calculated?: NEAR staking rewards are calculated based on several factors, including the total amount staked, the validator's performance, and the network's reward rate. Keep track of current rates using tools on Bitcompare.
When are staking rewards distributed?: Staking rewards in Near Protocol are typically distributed once per epoch, which lasts around 12 hours. Timings might vary slightly, so it's key to stay informed via Bitcompare tools.
Can I unstake my NEAR tokens anytime?: Yes, you can unstake your NEAR tokens whenever you wish. However, there's an unbonding period, usually lasting about 48 to 72 hours, before you can access your funds. Monitor the process using real-time Bitcompare updates.
Is there a minimum amount required to stake NEAR?: There's no mandatory minimum amount to stake NEAR, but validators might set their own thresholds. Check with individual validators and use Bitcompare for the latest staking requirements.
Are NEAR staking rewards taxable?: Staking rewards might be subject to taxation, depending on your locality. It's advisable to consult a tax professional for guidance. Keep abreast of related regulations using Bitcompare tools.
What role does a validator play in staking NEAR?: Validators secure the network by validating transactions. They earn a share of the staking rewards, which they distribute to delegators. Select reputable validators using tools from Bitcompare.
How can I choose a good validator for staking?: When selecting a validator, consider their fees, uptime, and reputation. Use Bitcompare's sentiment analysis and other tools to make well-informed choices.
What happens if a validator misbehaves?: If a validator acts maliciously, they may face slashing, leading to a loss of staked tokens. Always stay informed using resources on Bitcompare to ensure you are staking with trusted validators.