Introduction
Staking Steem can be a great option for those who want to hold STEEM 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 Steem (STEEM) tokens
In order to stake Steem, you need to have it. To obtain Steem, you'll need to purchase it. You can choose from these popular exchanges.
See all 4 pricesPlatform Coin Price Binance Steem (STEEM) $0.1532 BingX Steem (STEEM) $0.1553 Bitmart Steem (STEEM) $0.2364 MEXC Global Steem (STEEM) $0.1536 2. Choose a Steem wallet
Once you have STEEM, you’ll need to choose a Steem wallet to store your tokens. Here are some good options.
3. Delegate your STEEM
We recommend using a staking pool when staking STEEM. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their STEEM, 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 Steem network. You’ll be rewarded with STEEM 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
Steem (STEEM) is currently priced at $0.1553 with a 24-hour trading volume of $13.47M. In the last 24 hours, Steem has seen an increase of 2.17%. The market cap of Steem stands at 74.03M, with $470.85M STEEM in circulation. For those looking to buy or trade Steem, BingX offers avenues to do so securely and efficiently.
- Market cap
- $74.03M
- 24h Volume
- $13.47M
- Circulating supply
- $470.85M