This staking guide explains how to stake Moonbeam tokens (GLMR)
Introduction
GLMR staking allows users to delegate their GLMR tokens to collators who secure the Moonbeam network, earning rewards in return. By staking, participants contribute to the network’s security and decentralisation while receiving staking yields. This guide will walk you through the step-by-step process of staking your GLMR, from connecting your wallet to selecting a collator and viewing your rewards.
Buy GLMR Token
A straightforward way to acquire GLMR is through our Binance link, where you’ll receive a USD 600 welcome offer. Navigate to the “Markets” section and search for GLMR. Once you’ve located the GLMR, purchase the amount you desire.
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After buying GLMR, transfer it off the exchange by following these steps:
- Navigate to the “Wallet” section in Binance.
- Select “Withdraw” and choose GLMR as the token.
- Enter your GLMR wallet address
- Set the withdrawal amount and confirm the transaction.
Congrats! Now you should have some GLMR in your wallet and are ready for staking!
Staking GLMR from Simply’s Dashboard
Access the Landing Page
First, navigate to our landing page at simplystaking.com and hit the “Networks” button below the Berachain banner.
Choose The Network
After you choose “Networks”, you will be directed to a page displaying all our networks. Here, you can choose the chain you want to stake on (in this case Moonbeam).
Hit the “Stake” button under the “Moonbeam” title, and be directed to Moonbeam’s dashboard.
The UI will show you validator details like the amount reserved in staking, rewards and balance.
Time to stake
In case you are happy with the given stats, hit the green “Connect Wallet” button and choose the wallet where you hold GLMR.
After you choose the wallet click the “Start staking” button.
After you choose the collator, input the amount of GLMR that you wish to stake. Note that the minimum amount is 50 GLMR.
Toggle the green bar to choose the amount you want to delegate and hit the “Delegate” button!
Moving Funds to a Ledger Wallet
If you ever wish to unstake your GLMR and store them securely, you can easily transfer your assets to a Ledger wallet. Simply follow the unstaking process and move your tokens to Ledger for safe offline storage!
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About Simply Staking
We are a Blockchain Services Provider who operates Validators and Nodes on over 30 Networks with over $1 Billion in Assets Staked. Our journey started in 2018, with Simply entering the Cosmos Hub Testnets, and now have expanded our operations to most major ecosystems including networks such as LIDO, Polygon, EigenLayer, Oasis Network, Cosmos Hub, Polkadot, and many more, all while being an Oracle Operator on Chainlink.
We offer additional services such as Nodes-As-A-Service (RPCs), Blockchain Development work, Tooling, Governance Services as well as Blockchain Consultancy Services.
More Information on our offerings can be found on our website.
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This article is provided for informational purposes only and is not intended as investment advice. Investing in cryptocurrencies carries significant risks and is highly speculative. The opinions and analyses presented do not reflect the official stance of any company or entity. We strongly advise consulting with a qualified financial professional before making any investment decisions. The author and publisher assume no liability for any actions taken based on the content of this article. Always conduct your own due diligence before investing.
