Introduction
Staking VeChain can be a great option for those who want to hold VET 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 VeChain (VET) Tokens
In order to stake VeChain, you need to have it. To obtain VeChain, you'll need to purchase it. You can choose from these popular exchanges.
See all 45 pricesPlatform Coin Price Nexo VeChain (VET) 0.02 PrimeXBT VeChain (VET) 0.02 YouHodler VeChain (VET) 0.02 Binance VeChain (VET) 0.02 Coinbase VeChain (VET) 0.02 Uphold VeChain (VET) 0.02 2. Choose a VeChain Wallet
Once you have VET, you'll need to choose a VeChain wallet to store your tokens. Here are some good options.
See all 8 staking rewardsPlatform Coin Staking rewards Atomic Wallet VeChain (VET) Up to 1.63% APY Binance VeChain (VET) Up to 1.5% APY 3. Delegate Your VET
We recommend using a staking pool when staking VET. It's simpler and faster to get up-and-running. A staking pool is a group of validators who combine their VET, 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 VeChain network. You'll be rewarded with VET 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
VeChain (VET) is currently priced at $0.94 with a 24-hour trading volume of $64.81M. The market cap of VeChain stands at $3.6B, with 80.99B VET in circulation. For those looking to buy or trade VeChain, Atomic Wallet offers avenues to do so securely and efficiently}
- Market cap
- $3.6B
- 24h volume
- $64.81M
- Circulating supply
- 80.99B VET
Frequently Asked Questions About Staking VeChain (VET)
- What are staking rewards for VeChain (VET), and how do they work?
- Staking rewards for VeChain (VET) are incentives provided to holders who participate in the network's staking process. By staking VET, users contribute to the network's security and operations, and in return, they earn rewards. The rewards are typically distributed in VET and can vary based on the amount staked and the duration of staking. To maximize returns, users should monitor current rates and consider platforms that offer favorable staking conditions. Regularly checking Bitcompare can help you stay informed about the best staking opportunities for VeChain.