Introduction
Staking Velas can be a great option for those who want to hold VLX 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 Velas (VLX) Tokens
In order to stake Velas, you need to have it. To obtain Velas, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price BingX Velas (VLX) 0.02 Gate.io Velas (VLX) 0.02 HTX Velas (VLX) 0.02 2. Choose a Velas Wallet
Once you have VLX, you’ll need to choose a Velas wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards MyCointainer Velas (VLX) Up to 8.7 APY 3. Delegate Your VLX
We recommend using a staking pool when staking VLX. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their VLX, 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 Velas network. You’ll be rewarded with VLX 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
Velas (VLX) is currently priced at $8.7 with a 24-hour trading volume of $894,284. The market cap of Velas stands at $44,175,410, with $2,657,723,142.49 VLX in circulation. For those looking to buy or trade Velas, MyCointainer offers avenues to do so securely and efficiently}
- Market cap
- $44.18M
- 24h volume
- $894,284
- Circulating supply
- $2.66B
Frequently Asked Questions About Staking Velas (VLX)
- What is Velas (VLX) staking?
- Velas staking allows you to earn rewards by holding VLX tokens in a wallet and supporting network validation. Keep your Velas updated with Bitcompare tools for real-time insights.
- How much can I earn from staking Velas?
- Rewards for staking Velas vary based on market conditions and staking participation. Use Bitcompare to monitor rates and make informed choices.
- What is the minimum amount required to stake Velas?
- The minimum staking requirement may vary by platform. Check Bitcompare for up-to-date details on reputable exchanges and their staking policies.
- How often are staking rewards distributed for Velas?
- Staking rewards are generally distributed periodically, often daily or weekly. Stay updated with Bitcompare's alert feature for the latest distribution schedules.
- Can I unstake my Velas tokens anytime?
- Unstaking policies differ by platform, with possible lockup periods. Regularly check Bitcompare for relevant exchange terms to ensure a smooth unstaking experience.
- Are there any risks in staking Velas?
- Staking involves risks like market volatility and platform changes. Use Bitcompare's sentiment analysis and news tools to stay aware and mitigate potential risks.
- Do I need to actively manage my Velas staking?
- While passive, staking benefits from active monitoring of rates and news. Bitcompare provides comprehensive tools to keep you informed and prepared with real-time updates.
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