How to Stake NEO (NEO): A Step-by-Step Guide

Introduction

Staking NEO can be a great option for those who want to hold NEO 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 NEO (NEO) Tokens
In order to stake NEO, you need to have it. To obtain NEO, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Bitpanda NEO (NEO) 14.27
Uphold NEO (NEO) 11.56
OKX NEO (NEO) 14.55
Binance NEO (NEO) 13.43
Bitmart NEO (NEO) 12.5
MEXC Global NEO (NEO) 14.52
See all 14 prices
2. Choose a NEO Wallet
Once you have NEO, you’ll need to choose a NEO wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Bitmart NEO (NEO) Up to 0.4 APY
Binance NEO (NEO) Up to 3.39 APY
3. Delegate Your NEO
We recommend using a staking pool when staking NEO. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their NEO, 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 NEO network. You’ll be rewarded with NEO for these validations.

Platform	Coin	Price
Bitpanda	NEO (NEO)	14.27
Uphold	NEO (NEO)	11.56
OKX	NEO (NEO)	14.55
Binance	NEO (NEO)	13.43
Bitmart	NEO (NEO)	12.5
MEXC Global	NEO (NEO)	14.52

Platform	Coin	Staking rewards
Bitmart	NEO (NEO)	Up to 0.4 APY
Binance	NEO (NEO)	Up to 3.39 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

NEO (NEO) is currently priced at $3.39 with a 24-hour trading volume of $99,303,133. The market cap of NEO stands at $1,002,495,063, with $70,530,000 NEO in circulation. For those looking to buy or trade NEO, Bitmart offers avenues to do so securely and efficiently}

Market cap: $1B
24h volume: $99.3M
Circulating supply: $70.53M

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Frequently Asked Questions About Staking NEO (NEO)

What is NEO staking?: NEO staking involves holding NEO tokens to support network operations and earn rewards. By staking NEO, participants can receive GAS tokens as a reward.
How do I start staking NEO?: To stake NEO, you need to hold it in a wallet that supports staking. Check with your wallet provider to ensure it allows NEO staking for GAS rewards.
What are the rewards for staking NEO?: NEO staking rewards come in the form of GAS tokens, which are used for network fees and can be traded on exchanges.
Is there a minimum amount of NEO required to stake?: There is no official minimum amount of NEO required to stake, but you must hold at least 1 NEO to generate GAS rewards efficiently.
How often are NEO staking rewards distributed?: NEO staking rewards in the form of GAS tokens are typically distributed daily, depending on the wallet or exchange you use.
Are NEO staking rewards taxable?: Tax obligations vary by jurisdiction. It's important to consult with a tax professional to understand any tax implications for your specific location.
Can I trade or sell my GAS tokens?: Yes, GAS tokens earned from staking NEO can be traded or sold on any exchange that supports them.
Why should I use Bitcompare for NEO staking?: Bitcompare offers tools like real-time price comparisons, email alerts, sentiment analysis, and the latest NEO news, helping you make informed staking decisions.
How can I stay updated on NEO staking?: Regularly check Bitcompare for the latest updates and NEO news. Bookmark the page to easily access tools and make informed decisions in the crypto market.