Staking Movement (MOVE) is a great way to earn passive rewards while supporting the network. If you already own MOVE tokens, staking allows you to put them to work instead of just holding them. But how does staking Movement work, and why should you do it? Let’s break it down in simple terms.
Movement Network is a unique blockchain ecosystem designed for developers. It connects Move and Ethereum Virtual Machine (EVM) networks, making blockchain applications faster and more secure. With support from top investors like Polychain Capital and Binance Labs, Movement is set to grow in the Web3 space. By staking MOVE tokens, you help secure this innovative network while earning rewards.
This guide will show you exactly how to stake Movement step by step. Whether you’re new to staking or an experienced crypto investor, you’ll find everything you need to start earning from your MOVE tokens.
How To Stake Movement (MOVE)?
Staking Movement tokens is a great way to earn rewards while supporting the network. If you hold MOVE tokens and want to stake them, this step-by-step guide will help you. You need an account on Bitrue, a reliable crypto exchange, to start staking. Follow the detailed steps below to stake your MOVE tokens smoothly.
Step 1: Create A Bitrue Account
Before you can stake MOVE tokens, you need an account on Bitrue. If you already have one, you can skip this step.
Visit The Bitrue Website
Go to the official Bitrue website or download the Bitrue app from the Google Play Store or Apple App Store.
Sign Up And Verify Your Account
Click “Sign Up” and enter your email address or phone number. Create a strong password and complete the registration. To enhance security, enable two-factor authentication (2FA) in your account settings.
Complete Identity Verification
To comply with exchange regulations, complete the Know Your Customer (KYC) process. Upload the required documents, such as your passport or ID card, and wait for verification approval. Once approved, you can deposit and stake your MOVE tokens.
Step 2: Deposit MOVE Tokens
Once your Bitrue account is ready, deposit MOVE tokens into your wallet.
Navigate to the Wallet Section
Log in to your Bitrue account and go to the “Wallet” section. Here, you will find different crypto assets, including MOVE tokens.
Transfer MOVE Tokens
If you already own MOVE tokens on another exchange or wallet, transfer them to your Bitrue wallet. Copy your MOVE wallet address from Bitrue and paste it into the withdrawal section of the platform where your tokens are stored. Confirm the transaction, and the tokens will appear in your Bitrue wallet after network confirmation.
Step 3: Access The Launchpool
To start staking, you must use the Launchpool feature on Bitrue.
Find The Launchpool Tab
On the Bitrue homepage, look for the “Launchpool” tab. Click on it to explore available staking options.
Step 4: Stake Your MOVE Tokens
After accessing the Launchpool, follow these steps to stake your MOVE tokens.
Select The MOVE Staking Pool
Search for the MOVE staking pool in the list of available options. Click on the pool to enter the staking section.
Enter The Staking Amount
Decide how many MOVE tokens you want to stake. Enter the amount in the provided field. Ensure you leave some tokens in your wallet for transaction fees, if applicable.
Confirm Staking
Review the staking details, including lock-up periods, potential rewards, and staking terms. If everything looks good, confirm your staking request. Your MOVE tokens are now staked.
Step 5: Track And Withdraw Rewards
Once your tokens are staked, you can track your rewards and withdraw them when available.
Monitor Your Staking Dashboard
Go to your Bitrue wallet and check the staking dashboard. This section will display your staked amount, accumulated rewards, and estimated earnings.
Withdraw Your Rewards
Once your staking rewards are available, withdraw them to your Bitrue wallet. From there, you can transfer them to another wallet or reinvest them for additional earnings.
Popular Video Guides On Staking Movement (MOVE)
Best Places To Stake Movement (MOVE)
CoinUnited.io is a comprehensive cryptocurrency trading platform that offers users access to over 19,000 global markets, including cryptocurrencies, stocks, indices, forex, and commodities. The platform provides up to 2,000x leverage, allowing traders to maximize their profit potential. Additionally, CoinUnited.io offers competitive staking options, with Annual Percentage Yields (APYs) reaching up to 125% for certain cryptocurrencies. Users can benefit from instant deposits in over 50 fiat currencies and swift withdrawals, enhancing the overall trading experience. The platform also emphasizes security, employing advanced encryption and offering an insurance fund to protect user assets.
Pros:
- High staking APYs, up to 125% for select cryptocurrencies.
- Access to a wide range of markets beyond cryptocurrencies.
- Instant deposits in over 50 fiat currencies.
- The User-friendly interface is suitable for traders of all experience levels.
- 24/7 customer support for timely assistance.
Cons:
- High-leverage options may increase risk for inexperienced traders.
- Limited information on regulatory compliance and licensing.
Bitrue is a centralized cryptocurrency exchange offering a broad range of trading features and staking options. Headquartered in Singapore, the platform serves users worldwide, with operational offices in Europe and Asia. It provides high-yield farming opportunities and supports over 700 cryptocurrencies, making it a preferred choice for traders and investors. Bitrue's Power Piggy feature allows users to earn daily interest on their assets without lock-up periods, ensuring liquidity and flexibility. For those looking for higher returns, Bitrue offers a standard staking service with fixed terms.
Pros:
- Robust security features with a 24/7 monitoring team.
- Supports over 700 cryptocurrencies for trading and staking.
- Flexible staking options with Power Piggy, allowing withdrawals anytime.
- High-yield farming opportunities with competitive interest rates.
- Low trading and staking fees compared to other exchanges.
Cons:
- Not available for users in the USA.
- Has experienced security breaches in the past.
- High-yield staking often requires using the native BTR token.
Casper.Live serves as the official block explorer and staking platform for the Casper Network, enabling users to manage their CSPR tokens effectively. This platform allows users to delegate their tokens to preferred validators, monitor staking rewards, and access real-time network data. It offers a user-friendly interface that simplifies the staking process, making it accessible to novice and experienced crypto enthusiasts. By staking CSPR tokens via this platform, participants contribute to the network's security and decentralisation while earning rewards.
Pros:
- Dedicated Ethereum 2.0 staking service for seamless participation.
- Public proof of reserves ensures transparency and builds trust.
- Additional rewards via airdrops for users holding BETH for 30 days.
Cons:
- Staking rewards are paid in BETH, not ETH.
- The platform does not support fiat currency deposits.
Benefits Of Staking Movement (MOVE)
Staking Movement (MOVE) tokens is an excellent way to earn rewards while supporting the blockchain network. It allows users to lock up their tokens, contribute to network security, and earn passive income. Staking also helps the Movement ecosystem grow, making it an attractive option for long-term investors. Below are some key benefits of staking MOVE tokens.
Earn Passive Income With Staking
One of the biggest advantages of staking MOVE tokens is the ability to earn passive income. Instead of letting your tokens sit idle, staking allows you to generate additional MOVE tokens as rewards. This steady income stream benefits long-term holders looking to grow their holdings without actively trading.
Secure And Decentralize The Network
Staking this token also allows you to play an essential role in securing the network. Validators are responsible for proposing and approving new blocks, and by delegating your tokens to them, you help ensure that the network remains secure and reliable. This contribution strengthens its blockchain, making it more resistant to attacks and ensuring the integrity of transactions.
Fast Transaction Finality And Interoperability
Movement blockchain ensures fast transaction finality, meaning transactions are confirmed within seconds. This enhances user experience by providing quick and seamless transactions. Moreover, Movement integrates with the Ethereum ecosystem and supports the Move programming language. This interoperability allows developers to create secure and scalable decentralized applications (DApps) that function across multiple blockchains.
Developer-Friendly Tools And Community Support
The Movement network provides strong infrastructure and developer-centric tools. These resources help developers build high-throughput DApps and scalable application chains, ensuring a vibrant ecosystem. Additionally, staking MOVE tokens supports the broader Movement community. By staking, you contribute to the network’s growth, funding new projects and technological advancements.
Energy-Efficient And Environmentally Friendly
It makes staking accessible for everyone, including those with little technical knowledge. Many wallets like Casper Wallet and Ledger offer simple and intuitive staking interfaces. You can stake your tokens with just a few clicks, making it easy to participate in the network even if you’re new to crypto.
Frequently Asked Questions
How Are Staking Rewards Calculated?
Staking rewards for MOVE tokens depend on multiple factors, including the number of tokens you stake, the duration of your stake, and overall network conditions. The more tokens you commit and the longer you stake, the higher your rewards. Additionally, rewards are distributed proportionally among all participants, meaning your share depends on the total amount staked across the network. Some platforms also adjust rewards based on staking demand and inflationary mechanisms. Always check the specific staking terms of the platform you use, as reward structures may vary.
Can I Unstake My MOVE Tokens Anytime?
Yes, you can unstake your MOVE tokens, but you must go through a cooldown period before you can access them. The standard cooldown period is three days, meaning you won’t be able to transfer or sell your tokens immediately after initiating unstaking. This waiting period is common in staking mechanisms to maintain network stability and prevent abrupt liquidity shifts. Once the cooldown period ends, you can withdraw your tokens to your wallet. Be sure to review your staking platform’s policies, as some may have different withdrawal conditions.
Are There Any Fees Associated With Staking MOVE?
Staking MOVE tokens may come with certain costs, primarily transaction fees for staking and unstaking. These fees are required to process transactions on the blockchain and can vary depending on network congestion. Additionally, some staking platforms may deduct a small commission or service fee from your staking rewards as part of their operational costs. It’s important to check the platform’s fee structure beforehand to understand how much you will receive in net rewards. Keeping an eye on gas fees can also help optimize your staking experience.
Is Staking MOVE Safe?
Staking MOVE is generally secure if you use trusted platforms and follow best security practices. Always ensure you stake through official sources to avoid scams or phishing attempts. Keeping your private keys and wallet credentials secure is crucial to preventing unauthorized access. While staking itself does not carry direct risks, market fluctuations and smart contract vulnerabilities may impact your assets. Researching a platform’s security measures and community reputation can help you stake safely and minimize potential risks.
