Introduction
Staking MultiversX can be an excellent choice for those looking to hold EGLD 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 MultiversX (EGLD) Tokens
To stake MultiversX, you first need to acquire it. To obtain MultiversX, you'll need to buy it. You can select from these popular exchanges available in South Africa.
View all 53 pricesPlatform Mint Cost PrimeXBT MultiversX (EGLD) 15,07 YouHodler MultiversX (EGLD) 15,1 Binance MultiversX (EGLD) 15,1 BTSE MultiversX (EGLD) 15,1 Coinbase MultiversX (EGLD) 15,11 Kraken MultiversX (EGLD) 15,1 2. Select a MultiversX Wallet
Once you have EGLD, you'll need to choose a MultiversX wallet to store your tokens securely. Here are some solid options to consider.
View all 13 staking rewards availablePlatform Mint Staking rewards in South Africa Atomic Wallet MultiversX (EGLD) Up to 9,4% APY Binance MultiversX (EGLD) Up to 3,1% APY Bitget MultiversX (EGLD) Up to 8,5% APY 3. Delegate Your EGLD
We recommend using a staking pool when staking EGLD. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their EGLD, 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 MultiversX network. You'll be rewarded with EGLD 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
MultiversX (EGLD) is currently priced at US$9,31 with a 24-hour trading volume of US$39,77M. The market cap of MultiversX stands at US$917,2M, with 27,81M EGLD in circulation. For those looking to buy or trade MultiversX, Atomic Wallet offers avenues to do so securely and efficiently
- Market capitalisation
- US$917,2M
- 24-hour trading volume
- US$39,77M
- Circulating supply
- 27,81M EGLD
Frequently Asked Questions About Staking MultiversX (EGLD) in South Africa
- What are the staking rewards for MultiversX (EGLD)?
- Staking rewards for MultiversX (EGLD) vary, with a total of seven rates currently available. The highest staking reward can be found on Atomic Wallet, although the specific percentage is not disclosed. Staking allows EGLD holders to earn rewards by participating in the network's security and operations, contributing to its overall functionality. To stay updated on the latest offers and rates, consider checking Bitcompare regularly.
- How can I participate in staking MultiversX (EGLD)?
- To stake MultiversX (EGLD), you first need to hold EGLD tokens in a compatible wallet, such as Atomic Wallet or other wallets that support staking. Once you have your tokens, navigate to the staking section of your wallet or a staking platform. Follow the instructions to delegate your tokens to a validator, which helps secure the network. In return, you will earn staking rewards based on the amount staked and the rewards rate, which can fluctuate. Regularly check Bitcompare for the latest staking opportunities.
- What factors influence the staking rewards for MultiversX (EGLD)?
- Staking rewards for MultiversX (EGLD) are influenced by several factors, including the total amount of EGLD staked, the performance of the delegated validator, and overall network activity. Additionally, the reward rates can fluctuate based on the supply and demand dynamics within the ecosystem. It is essential to monitor these variables regularly to maximize your staking benefits. For real-time updates and comparisons, check Bitcompare’s resources frequently.
- Are there any risks associated with staking MultiversX (EGLD)?
- Yes, staking MultiversX (EGLD) does come with certain risks. These include the potential for slashing, where a portion of your staked tokens may be forfeited if the validator to whom you delegated acts maliciously or goes offline frequently. Additionally, staking can involve locking your tokens for a specified period, which limits your liquidity. It is crucial to choose a reputable validator and stay informed about network updates. For detailed comparisons of staking options, visit Bitcompare regularly.
- How often are staking rewards distributed for MultiversX (EGLD)?
- Staking rewards for MultiversX (EGLD) are typically distributed regularly, often at the end of each epoch or block cycle. The exact frequency can vary depending on the validator and the specific staking platform you use. Generally, rewards are automatically credited to your staking balance, allowing you to compound your earnings. To stay informed about the latest reward distributions and rates, check Bitcompare’s resources frequently for the most accurate information.
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