How to Stake MultiversX (EGLD): A Step-by-Step Guide

Introduction

Staking MultiversX can be a great option for those who want to hold EGLD 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 MultiversX (EGLD) Tokens
In order to stake MultiversX, you need to have it. To obtain MultiversX, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
PrimeXBT MultiversX (EGLD) 17.75
Uphold MultiversX (EGLD) 17.79
YouHodler MultiversX (EGLD) 17.74
Kraken MultiversX (EGLD) 17.79
OKX MultiversX (EGLD) 19.57
Binance MultiversX (EGLD) 17.74
See all 53 prices
2. Choose a MultiversX Wallet
Once you have EGLD, you'll need to choose a MultiversX wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Bitget MultiversX (EGLD) Up to 8.5 APY
Binance MultiversX (EGLD) Up to 3.1 APY
Kucoin MultiversX (EGLD) Up to 5 APY
See all 13 staking rewards
3. Delegate Your EGLD
We recommend using a staking pool when staking EGLD. It's simpler and faster to get up-and-running. A staking pool is a group of validators who combine their EGLD, 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 MultiversX network. You'll be rewarded with EGLD for these validations.

Platform	Coin	Price
PrimeXBT	MultiversX (EGLD)	17.75
Uphold	MultiversX (EGLD)	17.79
YouHodler	MultiversX (EGLD)	17.74
Kraken	MultiversX (EGLD)	17.79
OKX	MultiversX (EGLD)	19.57
Binance	MultiversX (EGLD)	17.74

Platform	Coin	Staking rewards
Bitget	MultiversX (EGLD)	Up to 8.5 APY
Binance	MultiversX (EGLD)	Up to 3.1 APY
Kucoin	MultiversX (EGLD)	Up to 5 APY

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

MultiversX (EGLD) is currently priced at US$8.5 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, Bitget offers avenues to do so securely and efficiently}

Market cap: US$917.2M
24h volume: US$39.77M
Circulating supply: 27.81M EGLD

See latest information

Frequently Asked Questions About Staking MultiversX (EGLD)

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.