How to Stake Polygon (MATIC): A Step-by-Step Guide

Introduction

Staking Polygon can be a great option for those who want to hold MATIC 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 Polygon (MATIC) Tokens
In order to stake Polygon, you need to have it. To obtain Polygon, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Kraken Polygon (MATIC) 0.48
Coinbase Polygon (MATIC) 0.48
Luno Polygon (MATIC) 0.6
BingX Polygon (MATIC) 0.37
See all 12 prices
2. Choose a Polygon Wallet
Once you have MATIC, you’ll need to choose a Polygon wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Kucoin Polygon (MATIC) Up to 3.5 APY
MyCointainer Polygon (MATIC) Up to 4.65 APY
Gemini Polygon (MATIC) Up to 2.88 APY
Exodus Polygon (MATIC) Up to 5.21 APY
See all 9 staking rewards
3. Delegate Your MATIC
We recommend using a staking pool when staking MATIC. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their MATIC, 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 Polygon network. You’ll be rewarded with MATIC for these validations.

Platform	Coin	Price
Kraken	Polygon (MATIC)	0.48
Coinbase	Polygon (MATIC)	0.48
Luno	Polygon (MATIC)	0.6
BingX	Polygon (MATIC)	0.37

Platform	Coin	Staking rewards
Kucoin	Polygon (MATIC)	Up to 3.5 APY
MyCointainer	Polygon (MATIC)	Up to 4.65 APY
Gemini	Polygon (MATIC)	Up to 2.88 APY
Exodus	Polygon (MATIC)	Up to 5.21 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

Polygon (MATIC) is currently priced at $7 with a 24-hour trading volume of $6.28M. The market cap of Polygon stands at $932.64M, with $1.93B MATIC in circulation. For those looking to buy or trade Polygon, Kucoin offers avenues to do so securely and efficiently}

Market cap: $932.64M
24h volume: $6.28M
Circulating supply: $1.93B

See latest information

Frequently Asked Questions About Staking Polygon (MATIC)

What are Polygon (MATIC) staking rewards?: Polygon staking rewards are incentives for those who participate in securing the network by staking their MATIC tokens. By staking, you help validate transactions and, in return, earn rewards.
How often are staking rewards distributed?: Staking rewards on Polygon are generally distributed on a regular basis, but the schedule can vary depending on the platform used. Always check the specific details with your staking provider.
Can I unstake my MATIC tokens anytime?: Yes, but there might be a locking period imposed by the staking platform before you can withdraw your staked MATIC. Ensure to understand the terms and conditions of the platform you use.
How are staking rewards calculated?: Staking rewards are typically calculated based on the number of tokens staked, the total tokens staked in the network, and the length of time staked. Rates can vary across platforms.
Is there a minimum amount required for staking MATIC?: Minimum staking amounts can vary by platform. It's important to confirm the requirements of the specific service you are using to stake your MATIC tokens.
Where can I find reliable information on staking?: Bitcompare offers tools like real-time price comparisons, sentiment analysis, and the latest Polygon news events. Visit their platform for valuable insights, and consider bookmarking the page to stay informed.
Do I retain ownership of my MATIC while staking?: Yes, when you stake MATIC tokens, you maintain ownership. Your assets are used to validate network transactions, but ensure your staking platform is trusted and secure.
What are the risks associated with staking MATIC?: Staking can come with risks like platform security issues or changes in market conditions. It's crucial to stay updated and well-informed to mitigate potential risks.