Flow Staking Overview
Flow is currently gaining popularity for its wide range of features. Staking Flow is very easy with just a Flow Port account and 0.01 FLOW to pay its fees as required. It currently offers an APY of up to 18%.
How to Stake Flow (FLOW)?
The staking FLOW protocol can be done in two ways – either by centralized crypto exchanges or non-custodial wallets.
The choice between them depends on your needs. If you wish to stake several coins or regularly trade between them, then the first option would be better.
In contrast, if you want to stake only FLOW, then the second option is better. Moreover, in the latter case, you will have complete authority over the node operator you select, and the proportion of staking rewards will be much higher than in the former case.
Staking Flow on a custodial wallet
Staking Flow on a custodial wallet can be done on crypto exchange platforms such as Huobi Global, Binance, OKX, etc. You can select the one you want.
Step 1 : Create an account in an exchange
Step 2 : Purchase the required amount of FLOW coins from the exchange
Step 3 : Choose the STAKE option with FLOW
Step 4 : Enter the amount to be staked
Step 5 : Click CONFIRM
Step 1: Create an account in an exchange
Enter your personal and bank details for verification and make payments to create an account on the crypto-exchange.
Step 2: Purchase the required amount of FLOW coins from the exchange
If you don’t have any FLOW coins, then purchase the necessary amount of FLOW tokens, otherwise, you can receive them through another external wallet by transferring the desired number of FLOW coins to the wallet you created on the exchange (when creating an account).
Step 3: Choose the STAKE option with FLOW
After you have a sufficient amount of FLOW coins, select the STAKE option in the exchange platform and choose FLOW as the cryptocurrency to be staked.
Step 4: Enter the amount to be staked
After choosing the staking duration, enter the number of FLOW tokens to be staked. Check if the entered value is greater than the minimum value for the corresponding duration.
Also, select the duration for which you wish your FLOW tokens to be staked.
Step 5: Click CONFIRM
Finally, confirm the chosen values and accept the terms.
Now, your entered FLOW tokens have been successfully staked for the chosen duration.
Staking Flow on a non-custodial wallet
In Flow, you don’t need to download a non-custodial wallet on your device. You can directly stake it on its site by creating a Blocto wallet. But if you wish to create a highly secure wallet, then you can create a Ledger wallet for that. However, a Blocto wallet is also acceptable.
Step 1: Create your Flow Port account
Step 2: Select ‘Blocto’ or ‘Ledger’
Step 3: Select STAKE AND DELEGATE
Step 4: Select the START DELEGATING button
Step 5: Enter Node ID
Step 6: Enter the amount of FLOW
Step 7: Review the transaction details
Step 8: Click CONTINUE
Step 1: Create your Flow Port account
Go to the ‘Flow Port’ site. Select ‘Sign Up’ to create a new account on Flow Port.
If you already have a Flow Port account, then select ‘Sign In’ and enter your details.
Step 2: Select ‘Blocto’ or ‘Ledger’
Select ‘Blocto’ to create a new account and ‘Ledger’ if you already have a Ledger account.
Enter your name, email, and other details. Finally, CONFIRM the details.
Step 3: Select STAKE AND DELEGATE
Following the previous step, you will be landed on the ‘Flow Port Dashboard’. Select the STAKE AND DELEGATE tab on the left-hand navigation bar.
Step 4: Select the START DELEGATING button
You will be given two options. Choose the “Start Delegating” option.
Note that in the second option, there is no minimum number of FLOW coins for staking.
Step 5: Enter Node ID
You will be shown a list of node operators to delegate to. Choose the desired one.
If you wish to delegate FLOW coins to a known node operator, then simply paste its node ID in the given bar and select NEXT.
Step 6: Enter the amount of FLOW
Type in the number of FLOW coins you wish to delegate and click CONTINUE.
Step 7: Review the transaction details
You will be shown the transaction page as per the details you entered for staking. Simply review and click SUBMIT.
Step 8: Click CONTINUE
Finally, select Continue to delegate the chosen amount to the desired node operator.
You can get all information regarding staking in the ‘Stake and Delegate’ tab of the Dashboard. So, you can return to it whenever you wish to know the stake updates and rewards.
Also read: Where to buy Flow
Popular video guides on Staking Flow (FLOW)
Best Places to Stake Flow (FLOW)
Option 1 : Binance
Option 2 : Huobi Global
1. Binance
Binance is the first name that comes to mind when talking about staking FLOW. It has a large number of coins to choose from and offers a plethora of features. Also, its lower fees make it attractive to many users.
Pros
- Up to 12.79% APY on Flow staking
- Unlocking your staked Flow is easy
Cons
- Since it’s a centralized exchange, you don’t keep 100% of your rewards from staking Flow.
2. Huobi Global
Huobi Global is a renowned crypto exchange with a great presence in the Asian markets. It provides a large number of features such as spot trading, derivatives trading, etc. It ensures high security for its users' assets.
Pros
- Easy to stake flow – no private keys, no sign-off transactions
- It has a large number of yield-generating opportunities for staking Flow
Cons
- It isn’t beginner-friendly for people who are new to Flow staking.
Also read: Flow Pricing Prediction
Benefits of Staking Flow (FLOW)
- Highly secure
Flow provides high security to investors along with highly scalable contracts. It is also backed by well-known companies such as Binance and the NBA.
- Eco-friendly
Flow’s pipeline architecture makes it more efficient. Consequently, its transactional movement rises.
- Less transaction fees
Flow offers minute transaction fees that are lower than most cryptos.
Most frequently asked questions on Flow Staking
Can I stake Flow coins?
Yes, you can stake Flow coins. You can do so either through a custodial or non-custodial wallet. The entire staking process is very easy. You can follow the instructions above to stake FLOW tokens.
Where can I stake Flow coins?
You can stake Flow coins on popular crypto exchanges such as Binance, Huobi Global and OKX or directly by creating a Blocto wallet on the Flow Port site. But the latter is recommended because you will have complete control over the node operator you choose and will get a higher percentage of staking rewards there.
Is Flow coin worth it?
Yes, Flow Coin is quite profitable. But it is risky, as all cryptocurrencies are. However, it is worth a long-term investment.
How much I can earn by staking Flow tokens?
You will earn the amount that’s the APY times the amount you have staked. The current APY of Flow is 17.69%, you can calculate your earnings accordingly.
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