Introduction
Staking Bitcoin Cash can be a great option for those who want to hold BCH 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
1. Obtain Bitcoin Cash (BCH) tokens
In order to stake Bitcoin Cash, you need to have it. To obtain Bitcoin Cash, you'll need to purchase it. You can choose from these popular exchanges.
See all 19 pricesPlatform Coin Price Bitpanda Bitcoin Cash (BCH) $300.87 M2 Bitcoin Cash (BCH) $299.41 YouHodler Bitcoin Cash (BCH) $299.39 Uphold Bitcoin Cash (BCH) $351.15 Wirex Bitcoin Cash (BCH) $301.02 EarnPark Bitcoin Cash (BCH) $297.98 2. Choose a Bitcoin Cash wallet
Once you have BCH, you’ll need to choose a Bitcoin Cash wallet to store your tokens. Here are some good options.
3. Delegate your BCH
We recommend using a staking pool when staking BCH. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their BCH, 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 Bitcoin Cash network. You’ll be rewarded with BCH 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
Bitcoin Cash (BCH) is currently priced at $299.1 with a 24-hour trading volume of $144.23M. In the last 24 hours, Bitcoin Cash has seen an increase of 1.49%. The market cap of Bitcoin Cash stands at 5.92B, with $19.76M BCH in circulation. For those looking to buy or trade Bitcoin Cash, reputable platforms like Bitpanda, M2 and YouHodler offer avenues to do so securely and efficiently.
- Market cap
- $5.92B
- 24h Volume
- $144.23M
- Circulating supply
- $19.76M