If you own Chainlink, are thinking about buying Chainlink or are just interested in “where to stake Chainlink?” Then we’ve got you covered. This easy to follow guide will get you started on staking Chainlink (LINK) in no time.
As an introduction, staking is a process of confirming transactions on a blockchain. This is like mining but does not require as much computing power.
Whereas with a proof of work algorithms, miners confirm the validity of transactions, in a proof of stake version, it’s done by people who lock up a certain amount of the cryptocurrency in the protocol.
To stake LINK it’s easy. We stake ours on CoinMetro.
Unlike Ethereum staking rewards which require 32 ETH, with LINK staking on CoinMetro you don’t need a minimum amount to start.
Earn 2.5-5% on the amount of LINK deposited. The higher the amount deposited, the higher the returns.
How to stake LINK?
All you need to do is deposit LINK to your CoinMetro account. There’s no need to lock anything or opt-in, simply deposit LINK into your main wallet and you start earning LINK staking rewards.
Don’t have any LINK? Don’t worry, buy it on CoinMetro.
Click here to quickly open a CoinMetro account and get some free crypto in the process.
When LINK is received in your wallet, this will start the accrual staking rewards. The rewards accrue daily and are paid out every month into your account.
The LINK staking rewards are paid in XCM (the native token of the exchange).
Locking in XCM has a huge range of benefits on the platform read more about this here.
The rewards will be visible in the “Transaction History” on your CoinMetro dashboard, showing as a pending bonus.
Currently, LINK holders will be paid at a fixed rate of 2.5% per year.
Want to level up to 5% per year, then lock into one of the higher rebate tiers by buying and locking up XCM (10k of XCM minimum is required to access the 5%). A tier can be left at any time without impacting the accrued rewards.
LINK can be deposited and withdrawn at any time.
What is Chainlink?
Chainlink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. Smart contracts are pre-specified agreements on the blockchain that evaluate information and automatically execute when certain conditions are met. LINK tokens are the digital asset token used to pay for services on the network.
Start staking LINK, today!
For some super-easy passive income on your LINK, then this is a great opportunity to accrue some risk-free gains.
Sign up using our referral link and get 5 euros free in crypto when you deposit 50 euros of any asset and have a trading volume of 250 euros.
Leave some comments below of your experiences of staking LINK on CoinMetro – we’d love to get some feedback from coinesper.com readers.
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