How to Stake Chainlink (LINK): A Step-by-Step Guide

Introduction

Staking Chainlink can be a great option for those who want to hold LINK 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 Chainlink (LINK) Tokens
In order to stake Chainlink, you need to have it. To obtain Chainlink, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Nexo Chainlink (LINK) 20.41
PrimeXBT Chainlink (LINK) 20.39
M2 Chainlink (LINK) 20.65
Uphold Chainlink (LINK) 20.37
OKX Chainlink (LINK) 20.45
YouHodler Chainlink (LINK) 20.39
See all 37 prices
2. Choose a Chainlink Wallet
Once you have LINK, you’ll need to choose a Chainlink wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
YouHodler Chainlink (LINK) Up to 9 APY
3. Delegate Your LINK
We recommend using a staking pool when staking LINK. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their LINK, 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 Chainlink network. You’ll be rewarded with LINK for these validations.

Platform	Coin	Price
Nexo	Chainlink (LINK)	20.41
PrimeXBT	Chainlink (LINK)	20.39
M2	Chainlink (LINK)	20.65
Uphold	Chainlink (LINK)	20.37
OKX	Chainlink (LINK)	20.45
YouHodler	Chainlink (LINK)	20.39

Platform	Coin	Staking rewards
YouHodler	Chainlink (LINK)	Up to 9 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

Chainlink (LINK) is currently priced at $9 with a 24-hour trading volume of $1.13B. The market cap of Chainlink stands at $13.01B, with $631.1M LINK in circulation. For those looking to buy or trade Chainlink, YouHodler offers avenues to do so securely and efficiently}

Market cap: $13.01B
24h volume: $1.13B
Circulating supply: $631.1M

See latest information

Frequently Asked Questions About Staking Chainlink (LINK)

What is Chainlink (LINK) staking?: Chainlink staking allows LINK holders to participate in network security and receive rewards. Users lock up a certain amount of LINK to contribute to decentralized oracle networks.
How are staking rewards calculated for Chainlink?: Staking rewards for Chainlink are influenced by factors such as the total amount staked and the performance of the network. It's important to stay informed on variables affecting rewards.
What is the minimum amount required to stake LINK?: The minimum LINK staking amount can vary. Users should regularly visit platforms like Bitcompare for the latest updates on staking requirements and potential changes.
How often are Chainlink staking rewards distributed?: Reward distribution frequency for Chainlink staking can vary based on network parameters. Regularly check Bitcompare for updates on distributions to stay informed.
Can I track my staking rewards in real-time?: Yes, users can track Chainlink staking rewards in real-time using various tools. Platforms like Bitcompare offer price comparisons, alerts, and updates to keep users informed.
Is staking LINK safe?: Staking LINK involves risks such as potential price volatility. Stay informed by using resources like Bitcompare, which provide updates and analysis to help users make smart decisions.
How can I start staking my LINK tokens?: To stake LINK tokens, users typically need to connect their wallets to a staking pool that supports Chainlink. Stay informed on options via Bitcompare that provides real-time data.
Where can I find the latest Chainlink news and updates?: Stay updated on Chainlink by checking platforms like Bitcompare regularly for the latest news events, sentiment analysis, and real-time price comparisons.
Why is it important to stay updated on cryptocurrency markets?: Cryptocurrency markets are dynamic and can change rapidly. Staying informed using tools like Bitcompare ensures users can make quick, well-informed decisions.
Does Bitcompare offer tools to help with Chainlink staking?: Yes, Bitcompare provides valuable tools such as real-time price comparisons, email alerts, and Chainlink's latest news events to guide users effectively.