How to Stake Polygon (MATIC): A Step-by-Step Guide

Introduction

Staking Polygon can be a great option for those who want to hold MATIC 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 Polygon (MATIC) Tokens
In order to stake Polygon, you need to have it. To obtain Polygon, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Kraken Polygon (MATIC) 0.29
Coinbase Polygon (MATIC) 0.29
Luno Polygon (MATIC) 0.6
Blockchain.com Polygon (MATIC) 1
See all 22 prices
2. Choose a Polygon Wallet
Once you have MATIC, you’ll need to choose a Polygon wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
MyCointainer Polygon (MATIC) Up to 4.65 APY
Kucoin Polygon (MATIC) Up to 3.5 APY
Gemini Polygon (MATIC) Up to 2.4 APY
Exodus Polygon (MATIC) Up to 5.21 APY
See all 17 staking rewards
3. Delegate Your MATIC
We recommend using a staking pool when staking MATIC. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their MATIC, 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 Polygon network. You’ll be rewarded with MATIC for these validations.

Platform	Coin	Price
Kraken	Polygon (MATIC)	0.29
Coinbase	Polygon (MATIC)	0.29
Luno	Polygon (MATIC)	0.6
Blockchain.com	Polygon (MATIC)	1

Platform	Coin	Staking rewards
MyCointainer	Polygon (MATIC)	Up to 4.65 APY
Kucoin	Polygon (MATIC)	Up to 3.5 APY
Gemini	Polygon (MATIC)	Up to 2.4 APY
Exodus	Polygon (MATIC)	Up to 5.21 APY

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

Polygon (MATIC) is currently priced at $3.5 with a 24-hour trading volume of $12.19M. The market cap of Polygon stands at $864.06M, with 1.92B MATIC in circulation. For those looking to buy or trade Polygon, MyCointainer offers avenues to do so securely and efficiently}

Market cap: $864.06M
24h volume: $12.19M
Circulating supply: 1.92B MATIC

See latest information

Frequently Asked Questions About Staking Polygon (MATIC)

What are Polygon (MATIC) staking rewards?: Polygon (MATIC) staking rewards are incentives given to users for participating in the network's security and operations by holding and locking their MATIC tokens in a staking wallet. The reward rate can vary due to network conditions.
How can I stake my Polygon (MATIC) tokens?: To stake Polygon (MATIC) tokens, you'll need to use a supported crypto wallet and connect it to a staking platform. Once your tokens are locked in, you'll earn rewards periodically. Always research the platforms to ensure they are trustworthy.
What factors affect the staking rewards of Polygon (MATIC)?: The amount of staking rewards is influenced by several factors such as the total amount of tokens staked, the duration of staking, and the network's overall activity. It's crucial to stay informed of these conditions using tools like Bitcompare.
Where can I find the current staking rate for Polygon (MATIC)?: Bitcompare provides real-time price comparisons and the latest staking rates for Polygon. These tools keep you informed about current market conditions, helping you make strategic decisions.
How often are the staking rewards distributed for Polygon (MATIC)?: Typically, staking rewards are distributed periodically, and this period can vary depending on the platform you choose. Stay updated by regularly checking Bitcompare for the latest distribution schedules.
What are the risks involved in staking Polygon (MATIC)?: Staking involves risks such as potential loss due to price volatility, software bugs, or platform security issues. It's important to stay informed about these risks by using tools like Bitcompare to compare platforms.
How can I ensure the security of my staked Polygon (MATIC) tokens?: Ensure the security of your staked tokens by using reputable platforms, following best security practices, and staying informed with Bitcompare tools. Bookmark their page to keep updated with relevant news and insights.
Can I unstake my Polygon (MATIC) tokens anytime?: The ability to unstake your tokens depends on the platform's terms. Some may have lock-up periods. Use Bitcompare to find platforms with terms that fit your needs, and check the page regularly for the latest conditions.