Introduction
Staking FIO Protocol can be an excellent choice for those looking to hold FIO while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.
Step-by-Step Guide for South African Investors
1. Acquire FIO Protocol (FIO) Tokens
To stake FIO Protocol, you first need to acquire it. To obtain FIO Protocol, you'll need to buy it. You can select from these popular exchanges available in South Africa.
2. Select a FIO Protocol Wallet
Once you have FIO, you'll need to choose a FIO Protocol wallet to store your tokens securely. Here are some solid options to consider.
View all 5 staking rewards availablePlatform Mint Staking rewards in South Africa Binance FIO Protocol (FIO) Up to 3,9% APY Moonstake FIO Protocol (FIO) Up to 12,79% APY MyCointainer FIO Protocol (FIO) Up to 11,7% APY 3. Delegate Your FIO
We recommend using a staking pool when staking FIO. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their FIO, which increases their chances of validating transactions and earning rewards. You can manage 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 FIO Protocol network. You'll be rewarded with FIO for these validations.
What to Keep in Mind
There are transaction and staking pool fees you need to take into account. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this process can take some time.
Latest Movements in the Market
FIO Protocol (FIO) is currently priced at US$11,7 with a 24-hour trading volume of US$4,05M. The market cap of FIO Protocol stands at US$29,11M, with 801,31M FIO in circulation. For those looking to buy or trade FIO Protocol, Binance offers avenues to do so securely and efficiently
- Market capitalisation
- US$29,11M
- 24-hour trading volume
- US$4,05M
- Circulating supply
- 801,31M FIO