What you need to know about how to stake Decimal
Decimal looks to be the market leader in allowing users to create their own custom token without having the technical skills that are normally required. Users staking Decimal can expect to earn up to 70.94% APR as of the time of writing this guide in Feb 2022. If you are looking for more up-to-date statistics on how much you can earn staking Decimal you can check out the Staking Rewards Decimal Asset Page.
What you will need to stake Decimal
- A Decimal Wallet (Step 1)
Step 1 – Creating your Decimal Wallet
Setting up your Decimal wallet is an intuitive process that is quite similar to other wallet creation processes. Your main focus in this process is to make sure you write down your seed phrase in a safe place. At Staking Rewards we prefer to store physical copies of our seed phrases in multiple places that you don’t share with others. Remember that someone with your seed phrase will have full access to your wallet.
Step 2 – Picking a Decimal Validator
In any staking operation, selecting the right validator is important. To delegate your Decimal, you will need the validator address. You can find a list of available validators on the Decimal Explorer. By clicking on the Validator as shown above, you are able to get a more in-depth summary of that validator.
For a full list of Validators check out the Decimal Asset Page.
Step 3
Once you have picked a validator, all that’s left to do is head to the delegate section, select DEL as the coin you which to stake, and input how much DEL you wish to stake. After you click stake, a popup will appear, asking you to confirm the transaction. Finally, you will then receive a transaction confirmation. Well done, you have successfully staked your DEL!
Please note you can also Stake any token or NFT that you create on DecimalChain giving unique utility to every token in the Decimal ecosystem.
Conclusion
As can be seen from the simple steps above, staking Decimal is an easy process that offers a sky-high APR compared to a lot of other native chains with validator staking. However it is always recommended to research the underlying project before investing as no staking APR will offset bad token fundamentals.
Let us know in the comments how you found staking Decimal and as always Happy Staking!
Curious as to how much you could be earning from multiple years of staking your Decimal? Check out our staking calculator which lets you forecast your staking returns for up to 10 years in the future.