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.
See all 23 pricesPlatform Coin Price Nexo Polygon (MATIC) 0.40 Bitpanda Polygon (MATIC) 0.37 Wirex Polygon (MATIC) 0.32 Uphold Polygon (MATIC) 0.52 EarnPark Polygon (MATIC) 0.32 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.
See all 19 staking rewardsPlatform Coin Staking rewards Bitpanda Polygon (MATIC) Up to 5.00 APY Bitmart Polygon (MATIC) Up to 1.00 APY Binance Polygon (MATIC) Up to 4.00 APY 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.
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 $3.00 with a 24-hour trading volume of $5.13M. The market cap of Polygon stands at $843.92M, with $2.62B MATIC in circulation. For those looking to buy or trade Polygon, Bitpanda offers avenues to do so securely and efficiently}
- Market cap
- $843.92M
- 24h volume
- $5.13M
- Circulating supply
- $2.62B