Introduction
POL staking allows users to delegate their POL tokens to validators who secure the Polygon blockchain, 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 POL tokens on Polygon, from connecting your wallet to selecting a validator and viewing your rewards.
If you wish to refresh your knowledge of how Polygon works, check out our blog, where you will find an introductory article.
Buy POL Token
To stake POL on Polygon, you’ll first need to purchase POL tokens. A straightforward way to acquire POL is through our Binance link where you will receive a $600 USD welcome bonus. Navigate to the “Markets” section, and search for POL. Once you’ve located POL, proceed to purchase your desired amount.
After buying POL, transfer it off the exchange by following these steps:
- Navigate to the “Wallet” section in Binance.
- Select “Withdraw” and choose POL as the token.
- Enter your POL wallet address.
- Set the withdrawal amount and confirm the transaction.
Now that your POL tokens are safely transferred, you’re ready to start staking.
Staking POL from Polygon Staking
As the first step, access the polygon portal: https://staking.polygon.technology/ where you will find the general overview of POL staking market.
Hit the “Become a Delegator” button, which will direct you to the validators section, where you will be able to connect your wallet.
Connect Your Wallet
Hit the “Login” button, and expect to be presented with a set of wallets from which you can choose your desired one.
In this case, we have used Metamask.
Choosing Validator & Staking
Once connected, choose the desired Validator. Hopefully, it will be us – Simply Staking.
After you choose the amount of POL that you want to delegate, click “Continue” and approve the transaction.
After you approve the transaction, click “Delegate” and wait for the delegation confirmation to pop up.
That’s it, you have now put your POL to work! Sit back and relax while we keep working to accumulate your rewards!
Moving Funds to a Ledger Wallet
If you ever wish to unstake your POL and store it 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!
(Terms & Conditions Apply)
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.
