Introduction
Staking Harmony can be a great option for those who want to hold ONE 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 Harmony (ONE) Tokens
In order to stake Harmony, you need to have it. To obtain Harmony, you'll need to purchase it. You can choose from these popular exchanges.
See all 8 pricesPlatform Coin Price Uphold Harmony (ONE) 0.02 OKX Harmony (ONE) 0.02 Binance Harmony (ONE) 0.02 BTSE Harmony (ONE) 0.02 Bybit Harmony (ONE) 0.02 Gate.io Harmony (ONE) 0.02 2. Choose a Harmony Wallet
Once you have ONE, you’ll need to choose a Harmony wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards Binance Harmony (ONE) Up to 6 APY 3. Delegate Your ONE
We recommend using a staking pool when staking ONE. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their ONE, 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 Harmony network. You’ll be rewarded with ONE 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
Harmony (ONE) is currently priced at $6 with a 24-hour trading volume of $283,976,128. The market cap of Harmony stands at $298,430,384, with $12,305,426,115 ONE in circulation. For those looking to buy or trade Harmony, Binance offers avenues to do so securely and efficiently}
- Market cap
- $298.43M
- 24h volume
- $283.98M
- Circulating supply
- $12.31B
Frequently Asked Questions About Staking Harmony (ONE)
- What are Harmony (ONE) staking rewards?
- Harmony (ONE) staking rewards are incentives for participants who lock up their ONE tokens to help secure the network. These rewards vary based on network activity and staking amounts.
- How often are Harmony staking rewards distributed?
- Staking rewards for Harmony are typically distributed every epoch, which lasts approximately 18 hours. The frequency might vary slightly based on network conditions.
- What factors influence Harmony staking rewards?
- Rewards depend on factors like total staked amount, network performance, and validator status. By participating through different validators, returns may vary.
- Is there a minimum amount of ONE required to stake?
- While there is no hard minimum, validators may set their own minimum staking requirements. It's advisable to confirm with chosen validators for specifics.
- Can I unstake my Harmony tokens anytime?
- Yes, you can unstake your tokens at any time. However, there's a waiting period (currently about 7 days) before the tokens become liquid and transferable.
- Are staking rewards guaranteed?
- Staking rewards aren't guaranteed as they depend on validator performance and network activity. Ensure to research and choose reliable validators.
- Do I need to claim my Harmony staking rewards manually?
- In most cases, staking rewards accumulate automatically. However, it’s best to check with your staking provider or platform for specific requirements.
- How can I monitor my Harmony staking performance?
- Use platforms like Bitcompare for tools like real-time price comparisons, alerts, and Harmony-specific news. This helps manage your staking strategy effectively.
- Is staking on Harmony safe?
- Staking on Harmony is generally secure, but like any crypto activity, it carries risk. Diversify and stay updated via resources like Bitcompare for informed decisions.
