How to Stake NEM (XEM): A Step-by-Step Guide

Introduction

Staking NEM can be a great option for those who want to hold XEM 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 NEM (XEM) Tokens
In order to stake NEM, you need to have it. To obtain NEM, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Bitget NEM (XEM) 0.02
Bitmart NEM (XEM) 0.02
BingX NEM (XEM) 0.02
Kucoin NEM (XEM) 0.02
CoinEx NEM (XEM) 0.02
Gate.io NEM (XEM) 0.02
See all 13 prices
2. Choose a NEM Wallet
Once you have XEM, you’ll need to choose a NEM wallet to store your tokens. Here are some good options.
3. Delegate Your XEM
We recommend using a staking pool when staking XEM. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their XEM, 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 NEM network. You’ll be rewarded with XEM for these validations.

Platform	Coin	Price
Bitget	NEM (XEM)	0.02
Bitmart	NEM (XEM)	0.02
BingX	NEM (XEM)	0.02
Kucoin	NEM (XEM)	0.02
CoinEx	NEM (XEM)	0.02
Gate.io	NEM (XEM)	0.02

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

Market cap: $217.8M
24h volume: $19.29M
Circulating supply: $9B

See latest information

Frequently Asked Questions About Staking NEM (XEM)

What is NEM (XEM) staking?: NEM (XEM) staking involves holding XEM coins in a wallet to support network operations and earn rewards. It promotes security and efficiency of the NEM blockchain.
How can I start staking NEM (XEM)?: To start staking NEM, you'll need a compatible wallet and sufficient XEM balance. Ensure your wallet is connected and configured for staking.
Are there any minimum requirements for NEM staking?: Yes, there is typically a minimum amount of XEM required to stake. It's important to check the current requirements before starting your staking journey.
How are staking rewards calculated?: Rewards are usually calculated based on the number of XEM held and for how long you've been staking. The NEM community sets specific parameters for distributions.
How often do I receive staking rewards?: Staking rewards are usually distributed periodically. The frequency can depend on network parameters and your staking configuration.
Can I stake NEM on multiple exchanges?: Staking NEM on multiple exchanges is possible, but ensure each platform supports staking and review their terms for fees and distributions carefully.
What are the risks involved in staking NEM?: While staking is generally secure, risks include network changes, wallet security, and exchange policies. Always do thorough research before staking.
How does staking affect my XEM liquidity?: Staking may lock up your XEM for a period, affecting liquidity. Check the terms on your chosen platform to understand any withdrawal restrictions.
Why is it important to stay informed about NEM staking?: Crypto markets are dynamic; rates and policies can change. Stay informed with Bitcompare's tools, including price comparisons, alerts, and news updates.
How can Bitcompare help with NEM staking?: Bitcompare offers price comparisons, email alerts, sentiment analysis, and news updates, helping you stay informed about NEM and making smart staking decisions.