<h2 class="wp-block-heading">What is Moonbeam (GLMR)?</h2><p>Moonbeam is a new Polkadot smart contract platform that makes it easy to build natively interoperable blockchain applications. Moonbeam is a parachain that promises cross-chain interoperability between the Ethereum and Polkadot blockchains. The token that powers the Moonbeam network is GLMR and it is exclusively used for trading, staking, delegating, paying transaction fees, and governance votes on the network. This tutorial will show you how to stake your GLMR tokens on the Moonbeam network.&nbsp;</p><h2 class="wp-block-heading">Prerequisites</h2><h3 class="wp-block-heading">Where to buy Moonbeam (GLMR)</h3><p>You can get GLMR tokens at a cryptocurrency exchange or within select wallets. You should always do your own research when selecting a reputable cryptocurrency exchange. For best security, it is not recommended to leave your tokens on an exchange, but transfer them to your non-custodial or cold/hardware wallet after procuring them. You can buy GLMR here:</p><ul><li><a target="_blank" rel="noopener noreferrer" href="https://www.coingecko.com/en/exchanges/binance">Binance</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://stellaswap.com/">Stellaswap</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.coingecko.com/en/exchanges/okx">OKx</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.coingecko.com/en/exchanges/kraken">Kraken</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.coingecko.com/en/exchanges/kucoin">Kucoin</a></li></ul><h3 class="wp-block-heading">Moonbeam (GLMR) wallets</h3><p>Moonbeam has a variety of non-custodial wallets for you to choose from. We recommend that you use a hardware wallet such as Ledger otherwise we suggest using Talisman wallet because it has the best UX and is well respected in the Moonbeam and Kusama community. Compatible wallets include:</p><ul><li><a target="_blank" rel="noopener noreferrer" href="https://www.ledger.com/">Ledger</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://metamask.io/">Metamask</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.talisman.xyz/">Talisman</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://subwallet.app/">Subwallet</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://novawallet.io/">Nova wallet</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://fearlesswallet.io/">Fearless wallet</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://polkawallet.io/">Polka wallet</a></li></ul><h3 class="wp-block-heading">How to connect Moonbeam (GLMR) to Metamask wallet</h3><p>When setting up your Metamask wallet, you will need to add the Moonbeam network to the wallet. To do som follow the steps below:</p><ul><li>Once you have an account, you can add Moonbeam as a network and connect to it by clicking on the network dropdown and selecting <strong>“Add Network”</strong>.</li><li>To add Moonbeam, you can enter Moonbeam’s network configurations:</li></ul><ol><li>Network Name: Moonbeam</li><li>RPC URL: <a target="_blank" rel="noopener noreferrer" href="https://rpc.api.moonbeam.network/">https://rpc.api.moonbeam.network</a></li><li>Chain ID: 1284 (hex: 0x504)</li><li>Symbol (optional): GLMR</li><li>Block Explorer (optional): <a target="_blank" rel="noopener noreferrer" href="https://moonscan.io/">https://moonscan.io/</a></li></ol><figure class="wp-block-image"><p><img src="https://lh5.googleusercontent.com/1JwSTJYfZDgcmFCKyXiVyIX4NvJ3KUGZRWgaj4szsRAK04Lir6ANmkf_XQbWlqs5a7szpLYdrNvnObtjLeuwU3vRvjIMzZXqZhbvsMN9PbCb8dgj2puF1N0DjTaGltrtNztgbeWALHyyO4OvgbX6TbE" alt="" decoding="async"></p></figure><p>Then click “Save” to automatically connect to Moonbeam.</p><h2 class="wp-block-heading">How do I choose Moonbeam collators?</h2><p>Please refer to the FAQ section titled ‘<strong>How do I choose Moonbeam collators</strong>’ on <a target="_blank" rel="noopener noreferrer" href="https://www.stakingrewards.com/earn/moonbeam/">this page</a> when selecting Moonbeam pools. Also, you may want to utilize our criteria for verifying providers through the <a target="_blank" rel="noopener noreferrer" href="https://docs.stakingrewards.com/verified-provider-program/"><a target="_blank" rel="noreferrer noopener"><strong>Staking Rewards Verified Staking Provider (VSP) Program</strong></a></a>.</p><h2 class="wp-block-heading">How Staking Rewards for Moonbeam (GLMR) are Generated</h2><p>Learn how rewards are generated in the FAQ section titled ‘<strong>How are the staking rewards generated?</strong>’ <a target="_blank" rel="noopener noreferrer" href="https://www.stakingrewards.com/earn/moonbeam/">here</a>.</p><h2 class="wp-block-heading">How to stake Moonbeam (GLMR)</h2><h3 class="wp-block-heading">Step 1: Make sure you have a Metamask wallet</h3><p>As a popular wallet in the Moonbeam ecosystem, Moonbeam offers users the ability to stake tokens, access blockchain apps, and manage multiple tokens in one wallet. Simply connect your Ledger to Metamask wallet or use Metamask wallet directly to stake GLMR. Install the <a target="_blank" rel="noopener noreferrer" href="https://metamask.io/">Metamask browser extension</a> and deposit your tokens into this wallet before continuing onto step 2.</p><h3 class="wp-block-heading">Step 2: Go to the Moonbeam staking portal and choose a collator</h3><p>Navigate to the <a target="_blank" rel="noopener noreferrer" href="http://moonbeam.network/moonbeam">Moonbeam staking dashboard</a> and connect your wallet. We will use Metamask in this tutorial:</p><ul><li>Scroll down to the Staking section and click on <strong>‘Manage delegations’</strong>.</li><li>Click on <strong>‘Select a collator’</strong> and choose a collator from the active pool. Check our FAQ on how to choose a collator if you are unsure who to delegate to.&nbsp;</li><li>To join a pool, navigate to the ‘<strong>Pools’ </strong>tab and click ‘<strong>+ Join.</strong>’</li></ul><figure class="wp-block-image"><p><img src="https://lh3.googleusercontent.com/60tv7lfQKMfD6Wzq6pb-pw2nQVgHk175CapeuQfshdcdCmbhZbHhbYTiSFfUXyqIFS7Q3EwJqRlAu6KQB9G0of0JWdy1w8Vo9zUeivYP0qDLdyxhiP7chfyKL98mMnVZa1niUJOGR8i8OEZHTnqswMI" alt="" decoding="async"></p></figure><p><strong>Please Note:</strong></p><ul><li>Secondly, rewards can be auto-compounded. The staking dApp has an option to toggle auto-compounding your delegation. If you want to get the most out of your staking journey, you should consider this option. By using our <a target="_blank" rel="noopener noreferrer" href="https://www.stakingrewards.com/calculator/?asset=moonbeam">Moonbeam staking calculator</a>, you can simulate your staking returns for GLMR.</li><li>The minimum bond for each collator tends to increase over time, so if your delegation is close to the minimum, there is a higher chance you might fall below the minimum and not receive rewards</li></ul><h3 class="wp-block-heading">Step 3: Finalize the transaction&nbsp;</h3><p>Enter the amount of GLMR you want to stake, press confirm and approve the transaction.&nbsp;</p><ul><li>Enter the amount of GLMR you want to stake, click <strong>‘Delegate’</strong>, and sign the transaction.</li><li>After the transaction is completed, go to the Overview section to get a birds eye view of your staking position.</li></ul><figure class="wp-block-image"><p><img src="https://lh5.googleusercontent.com/KpXbfQZ3XHiX6NLNV9ThmuHmY3G0xk9s-O6bd_WoSsrNWdp4_gM0ZxCjwTMMAf1D_rIA9seazIAa5ucVlf5gbuxk92fh7rDZ5sxiYAJfjgZonbUHT5WVfYSu1rBjveEGKIhjTrmWu0dEMWusKQ6QlXs" alt="" decoding="async"></p></figure><p>Congratulations! You have now staked your GLMR tokens and will start earning those juicy staking rewards.&nbsp;</p><h3 class="wp-block-heading">Step 4: Track your staking portfolio</h3><ul><li>Track your Moonbeam staking rewards on the <a target="_blank" rel="noopener noreferrer" href="https://apps.moonbeam.network/moonbeam/staking">Moonbeam staking dashboard</a></li><li>Monitor <a target="_blank" rel="noopener noreferrer" href="https://apps.moonbeam.network/moonbeam">governance proposals on Moonbeam network</a> that may impact the staking mechanism</li><li>Track the current and historical reward rates, validator count, number of unique Moonbeam staking wallets, and staking ratio of the Moonbeam network by visiting the <a target="_blank" rel="noopener noreferrer" href="https://www.stakingrewards.com/earn/moonbeam/">Moonbeam asset page</a>. To make better staking decisions, it’s essential to understand these relevant data points. To learn how these data points could impact your staking rewards, please read more in the FAQ sections named <strong>‘How do I choose Moonbeam pooled’</strong> and <strong>‘How are the rewards generated’</strong> on the <a target="_blank" rel="noopener noreferrer" href="https://www.stakingrewards.com/earn/moonbeam/">Moonbeam asset page.</a></li></ul><h3 class="wp-block-heading">Step 5: How to unstake Moonbeam (GLMR)?</h3><p>To unstake your GLMR tokens, follow the steps below:&nbsp;</p><ul><li>Click the ‘<strong>Minus’</strong> sign under the ‘<strong>Staking Delegations</strong>’ tab.</li><li>Enter the amount of GLMR you want to unbond</li></ul><figure class="wp-block-image"><p><img src="https://lh3.googleusercontent.com/mBhwr01m40jBtzIvf1D1wsa-MwvJkwBsCgZY33_-5PLC6r-vknrw3v362-IDPBwk01fF6N3a_p0osfo7OrksXacwa0ZQ8eUtxFOclu2miNTA5KrvKCtOCxuKL1nChpFF8YDLGif0Fbm6nkWrszAu9YU" alt="" decoding="async"></p></figure><p>Please note that it takes 7 days to unstake GLMR .</p><h2 class="wp-block-heading">Maximizing Staked GLMR</h2><p>Now that you have staked your GLMR, you have four options which can be used to change your position. These options appear on the <a target="_blank" rel="noopener noreferrer" href="https://apps.moonbeam.network/moonbeam/staking">Moonbeam Staking Portal</a>. The options are:</p><h3 class="wp-block-heading">Stake more</h3><p>You can increase your stake by adding more to the same or a different collator. You can do this by clicking the ‘<strong>Plus’</strong> sign in the ‘<strong>Staking Delegations’</strong> tab or selecting a new collator.</p><h3 class="wp-block-heading">Restake reward</h3><p>You can compound your rewards by toggling that feature on the staking portal. <img src="https://lh6.googleusercontent.com/HUPzwAyE9E3y2aRpRBQRd2fBavvCdfi2shufJsb8Dh2EOItyvGzl5ex74WxuAWyGFLqZWXzCMZinmZG_0RuvuChaCaFCXLpm2_otowrbFrdCtiHFLMCHVVOHFvCqgwNB-aPTVFYvjLCYAejVF9w1VD8" decoding="async" loading="lazy" width="624" height="349"></p><h3 class="wp-block-heading">Claim reward</h3><p>Rewards are automatically paid into your wallet, if you are not auto-compounding it then you will need to manually restake it.</p><h3 class="wp-block-heading">Unbond</h3><p>You can unstake your entire position or just a portion of it by clicking the ‘<strong>Minus’</strong> sign under the ‘<strong>Staking delegations’</strong> tab.</p><h2 class="wp-block-heading">Conclusion</h2><p>Staking is essential to Proof-of-Stake blockchains and comes with many benefits for investors and the network:</p><ul><li>Investors earn yield from token emissions and/or transaction fees.</li><li>Stakers become eligible for airdrops as many networks prioritize granting these benefits to them.</li><li>Staking helps to secure the network</li><li>Staking from multiple participants helps decentralize the network</li><li>Stakers can participate in governance, as many PoS networks allocate governance rights based on the amount of tokens staked.</li></ul><p>Congratulations! You are now not only getting the most out of your investment with compounded returns. YOU are also (in-)directly contributing to the decentralization, and the network security of Moonbeam and thus contributing to the long-term success of your investment! Moonbeam needs active stakers like you to become successful long-term.&nbsp;</p><p>Now share the tutorial with your friends so they can get to start staking as well!</p><p>Lastly, don’t forget to check out the <a target="_blank" rel="noopener noreferrer" href="https://www.stakingrewards.com/earn/moonbeam/">Moonbeam (GLMR) asset page</a> for more insights into staking GLMR, and drop us a <a href="mailto:content@stakingrewards.com" target="_blank" rel="noreferrer noopener">message</a> if you found this tutorial useful. Happy staking!</p>

How to Stake Moonbeam (GLMR)

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