How to Stake Hedera (HBAR) Coin

Bittime - Staking HBAR allows you to earn passive rewards while contributing to the security of the Hedera network. Find out how and benefits of staking HBAR here!

What is Hedera Hashgraph (HBAR) Staking?

Staking Hedera Hashgraph (HBAR) is an effective way to earn rewards while contributing to the security of its network. 

By staking, you can passively gain profits from HBAR that you have. 

In this guide, we will explain the steps for staking HBAR safely and efficiently.

Why Stake HBAR?

Hedera Hashgraph is a decentralized blockchain platform that uses the hashgraph consensus algorithm. 

It offers fast, secure, and fair infrastructure for building decentralized applications (dApps). 

By staking HBAR, you not only earn rewards, but also participate in decision-making and help maintain network stability.

Read too The 8 Best HBAR Wallets to Store Hedera Coins

Steps for Staking HBAR Using HashPack Wallet

1. Prepare your wallet 

Make sure you have a wallet that supports HBAR staking, such as HashPack or Ledger. 

This wallet allows you to safely store HBAR and stake.

2. Buy HBAR

You can buy HBAR on various cryptocurrency exchanges such as Coinbase, Binance, or Bittime. 

Read too Latest Hedera (HBAR) Prices in Rupiah

After purchasing, transfer HBAR to your non-custodial wallet for greater security.

3. Connect Wallet to HashPack

Open the HashPack app and create a new wallet if you don't have one yet.

After that, connect your wallet with hardware such as Ledger to increase security.

4. Start Staking

Inside the HashPack app, select the “Staking” tab.

Click the "Stake your HBAR" button and select the node you want to stake with. 

Make sure not to select nodes that have the label "Oversubscribed".

Confirm the transaction to start staking.

5. Monitor Your Rewards

After staking, you can monitor your rewards via the "Staking" tab in HashPack. 

Rewards will be automatically added to your balance when you make a transaction.

Wallets that Support HBAR Staking

Some wallets that support HBAR staking include:

1. HashPack

This wallet is very popular in the Hedera ecosystem. HashPack allows users to stake HBAR, access dApps on Hedera, and manage a variety of fungible and non-fungible tokens in one place. 

This wallet also offers the convenience of connecting to hardware for added security.

2. Ledger

As a hardware wallet, Ledger provides the highest level of security for storing HBAR. 

By connecting Ledger to HashPack, users can stake HBAR securely, keeping their assets protected from online threats.

3. Exodus Wallet

This wallet has an intuitive interface and supports various crypto assets, including HBAR. 

Exodus allows users to easily manage their portfolios and stake HBAR.

4. Blade Wallet

Blade is another wallet that supports HBAR staking. 

This wallet is designed to provide a simple and efficient user experience in managing crypto assets.

5. MyHbarWallet

This is a non-custodial wallet that allows users to store HBAR and stake easily. 

MyHbarWallet gives users complete control over their assets.

6. Uphold

As a platform that supports various digital assets, Uphold also allows users to stake HBAR. 

This wallet offers convenience in buying, selling, and storing HBAR.

Wallawallet: This wallet also supports HBAR staking and gives users access to various features to manage their assets.

7. Yamgo

Yamgo is a wallet that supports HBAR and allows users to stake in a safe and efficient way.

HBAR Staking Benefits

Staking HBAR offers various benefits for token holders, including:

1. Passive Rewards Up to 6.5%

By staking HBAR, users can earn annual rewards estimated at around 6.5%. This provides an opportunity to increase the amount of HBAR owned without having to carry out trading activities.

2. Network Security

By staking, users contribute to the security and stability of the Hedera network. Staking helps validate transactions and maintain the integrity of the blockchain, which is critical to the success of the platform.

3. Full Ownership

When staking HBAR, users remain in full control of their assets. This differs from staking on crypto exchanges, where users may lose full access to their assets.

4. Flexibility 

Users have the freedom to choose which nodes they want to use for staking. This allows them to choose trusted validators and earn competitive rewards.

5. Participation in Decision Making

HBAR stakers can participate in network governance decisions. Many Proof-of-Stake (PoS) networks give voting rights to token holders based on the number of tokens they stake.

6. Access to Airdrops

Many blockchain projects provide airdrops to stakers as an additional incentive. By staking HBAR, users may be eligible to receive additional tokens from new projects launched on the Hedera network.

7. Liquidity Availability

Staked HBAR remains liquid, meaning users can stop staking at any time and re-access their assets without strict restrictions.

With these benefits, HBAR staking becomes an attractive option for investors who want to maximize the potential of their assets while contributing to the Hedera ecosystem.

FAQ

Does HBAR Offer Staking?

Yes, HBAR offers staking. Users can stake HBAR to earn rewards by contributing to the security of the Hedera network.

What is the Staking Rate for Hedera?

The staking rate for Hedera (HBAR) is currently estimated at around 6.5% per year. However, this rate may vary depending on the amount of HBAR staked and the policies of the Hedera Governing Board.

Does HBAR Use Proof-of-Stake?

Yes, HBAR uses a Proof-of-Stake (PoS) consensus mechanism. This allows token holders to participate in transaction validation and network decision making.

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Reference

Kilian Boshoff, How to Stake Hedera (HBAR), Accessed December 6, 2024

Ivy Documentation, Stake HBAR, Accessed December 6, 2024

Ledger, EARN REWARDS* BY STAKING YOUR HBAR, Accessed December 6, 2024

Author: IN