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) 33.73
Uphold MultiversX (EGLD) 33.72
Kraken MultiversX (EGLD) 33.76
OKX MultiversX (EGLD) 32.76
YouHodler MultiversX (EGLD) 33.71
Binance MultiversX (EGLD) 33.76
See all 26 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
Binance MultiversX (EGLD) Up to 3.1 APY
Bitget MultiversX (EGLD) Up to 8.5 APY
Kucoin MultiversX (EGLD) Up to 5 APY
See all 7 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)	33.73
Uphold	MultiversX (EGLD)	33.72
Kraken	MultiversX (EGLD)	33.76
OKX	MultiversX (EGLD)	32.76
YouHodler	MultiversX (EGLD)	33.71
Binance	MultiversX (EGLD)	33.76

Platform	Coin	Staking rewards
Binance	MultiversX (EGLD)	Up to 3.1 APY
Bitget	MultiversX (EGLD)	Up to 8.5 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 $3.1 with a 24-hour trading volume of $56.77M. The market cap of MultiversX stands at $929.67M, with $27.75M EGLD in circulation. For those looking to buy or trade MultiversX, Binance offers avenues to do so securely and efficiently}

Market cap: $929.67M
24h volume: $56.77M
Circulating supply: $27.75M

See latest information

Frequently Asked Questions About Staking MultiversX (EGLD)

What is MultiversX staking?: Staking in MultiversX involves locking your EGLD tokens to support network operations, earning rewards in return. It's a process that helps secure the blockchain by participating in the validation of transactions.
How often are staking rewards distributed?: Staking rewards are typically distributed every epoch, which in the MultiversX network is approximately one day. Always verify current distribution schedules for accuracy.
What factors influence the staking reward amount?: Staking rewards depend on several factors, including the total amount staked in the network, validator performance, and network transaction fees. Regular updates can provide further insights.
Can I stake EGLD directly from my wallet?: Yes, you can stake EGLD directly from supported wallets. Ensure you use a wallet that offers staking services for EGLD and follow their instructions for setup.
Is there a lock-up period for staking EGLD?: Yes, when you stake EGLD, your tokens are subject to a lock-up period. The duration may vary, so it's important to confirm the exact terms before committing to staking.
Are staking rewards taxable?: Tax regulations vary by jurisdiction, so it's crucial to check local laws regarding cryptocurrency income. Consulting a tax professional can provide guidance specific to your situation.
How can I maximize my staking rewards?: To potentially maximize rewards, stake with reputable validators, stay updated on network changes, and regularly monitor performance. Use tools on Bitcompare for the latest news and trends.
What happens if my validator performs poorly?: If a selected validator performs poorly, staking rewards might decrease. It's important to choose reliable validators and switch if necessary based on performance metrics.