How to Stake Fantom (FTM)?

Fantom (FTM) is a smart contract platform. This crypto asset offers decentralized financial services (DeFi) with very low transaction speed and fees.

Fantom uses a consensus mechanism called Lachesis, which is based on Directed Acyclic Graph (DAG), to achieve high scale and security. Fantom is also compatible with the Ethereum Virtual Machine (EVM), allowing developers and users to take advantage of the various DeFi applications and tools built into Ethereum.

What is Fantom Staking (FTM)

Staking Fantom (FTM) is a process where you lock your FTM tokens within the Fantom network to support transaction validation and network security. By staking, you can earn rewards in the form of additional FTM, which comes from transaction fees and the emission of new tokens.

Staking Fantom (FTM) also gives you voting rights in the network governance process, allowing you to participate in decision-making related to the development and improvement of Fantom.

How to Stake Fantom (FTM)

To stake Fantom (FTM), you need a wallet that supports FTM tokens, such as MetaMask, Trust Wallet, or Ledger. You also need to ensure that you have enough FTM tokens in your wallet, as there is a minimum limit for staking, which is 1 FTM.

Additionally, you also need to select the validator you want to support with your staking. Validators are entities responsible for running network nodes and validating transactions. You can see the list of available validators on the official Fantom website or in the Fantom Wallet app.

Here are the steps for staking Fantom (FTM) using MetaMask:

1. Open your MetaMask wallet and make sure you are connected to the Fantom Opera network. If not, you can add the Fantom Opera network by following the guide here.
2. Visit the Fantom Staking website and click the “Connect Wallet” button in the top right corner. Select MetaMask as your wallet option and allow access to your wallet address.
3. Once connected, you will see your FTM balance and your staking rewards on the main page. To start staking, click the “New Delegation” button at the bottom.
4. You will see a list of validators available for staking, along with information such as name, address, fees, reputation and amount of delegated FTM. You can select the validator you want by clicking the “Delegate” button on the right.
5. You will be asked to enter the FTM amount you wish to delegate, and check the transaction details. Make sure you have enough FTM for gas fees and minimum staking amount. If so, click the "Confirm" button and wait until the transaction is complete.
6. Congratulations, you have successfully staked Fantom (FTM)! You can view your delegate status on the main page, and withdraw your rewards at any time by clicking the “Claim Rewards” button. You can also add or reduce the number of delegated FTMs, or change the validators you support, by clicking the “Edit Delegation” button.

Benefits and Risks of Staking Fantom (FTM)

Staking Fantom (FTM) has several benefits and risks that you need to know about before deciding to do it. Here are some of them:

Profit

• You can earn competitive staking rewards, which currently range from 10% to 20% per year, depending on the amount of delegated FTM and validator fees.
• You can contribute to maintaining the security and stability of the Fantom network, which will increase the value and adoption of FTM tokens in the future.
• You can participate in the network governance process, which will give you influence and a voice in Fantom's development.

Risk

• You cannot access or move your delegated FTM tokens during the staking period, which is currently 7 days. If you want to withdraw your tokens, you will have to wait another 7 days before your tokens will be returned to your wallet.
• You may lose some or all of your staking rewards if the validator you support commits errors or malicious behavior, such as going offline, double signing, or censoring transactions. Therefore, you should choose validators that are reliable and trustworthy, and check their reputation and performance regularly.
• You may experience fluctuations in the price of FTM tokens, which may affect the value of your staking rewards. You should be aware that staking Fantom (FTM) does not guarantee profits, and you should be prepared to face market risks.

Conclusion

Staking Fantom (FTM) is one way to earn passive income from the FTM tokens you own, while supporting the Fantom network which offers fast and cheap DeFi services.

Staking Fantom (FTM) also gives you the opportunity to participate in network governance, which will shape Fantom's future. However, staking Fantom (FTM) also carries some risks that you need to consider, such as limited liquidity, potential loss of rewards, and price volatility.

Therefore, you should do sufficient research and analysis before staking Fantom (FTM), and only invest an amount you can afford to lose.

How to Buy FTM Tokens on Bittime

You can buy and sell MANTA tokens in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti. MANTA is available on Bittime with pairing Fantom IDR.

To be able to buy MANTA/IDR tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of Bittime assets is IDR 10,000. After that, you can make MANTA purchases in the application. More Complete Guide How to Buy Fantom on Bittime

Monitor price chart movements of Manta Network (MANTA), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Read also:

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Bittime Staking FAQs

What is Liquid Staking?

What's that Liquid Staking (Fantom)?

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.