How to Stake Matic with Metamask

The Polygon Network, originally known as the Matic Network, has devised a method for scaling Ethereum and establishing a Blockchain Internet. The Polygon ecosystem will be able to increase the speed of the Ethereum network by several times, lower transaction costs, and make it secure.

MATIC token holders can earn incentives by staking their tokens. Matic and MetaMask web wallets are required. We invite you to learn how to use the MetaMask addon to stake MATIC tokens in a wallet.

How to Stake Matic with Metamask

Preparation

To stake Matic tokens, you’ll need the following:

Matic Web Wallet Is a user-friendly web wallet with a simple and straightforward interface for managing Matic tokens. A transaction explorer and a reward calculator are both included in the wallet.

MetaMask, one of the most widely used online wallets for Ethereum and ERC-20 tokens. It’s simple to set up, develop, and use. The Binance Smart Chain (BSC) network is now supported by MetaMask. Chrome, Firefox, Brave, and Edge browsers all support the wallet. In the MetaMask downloads area, you can choose the version for your browser.

MetaMask Wallet Connection

Go to the Matic web wallet to begin staking. The MetaMask plugin must now be connected. WalletConnect and Walletlink are two additional connection techniques available in Matic wallet, in addition to MetaMask. We’ll look at how to connect via MetaMask in this article, so find this wallet in the list and click on it.

Click Unlock after entering the wallet’s password (which must be set to secure your data from illegal access).

Select the account where you want to keep MATIC tokens or utilise for staking, then click Next.

Note. Multiple accounts can be added to the MetaMask wallet to manage ETH and ERC-20 tokens. This is useful when you need to use various accounts for different purposes, such as staking, exchanges, storage, and so on.

Click Unlock after entering the wallet’s password (which must be set to secure your data from illegal access).

Select the account where you want to keep MATIC tokens or utilise for staking, then click Next.

Note. Multiple accounts can be added to the MetaMask wallet to manage ETH and ERC-20 tokens. This is useful when you need to use various accounts for different purposes, such as staking, exchanges, storage, and so on.

The wallet has been linked.

MATIC Delegation

You must choose a validator to whom you will assign tokens at this point. Validators protect the network’s security and add transactions to blocks, which are then added to the blockchain. Validators are the only ones who can stake crypto assets directly. Users can delegate tokens to validators in exchange for a small commission.

After linking MetaMask, you’ll be brought to Matic Wallet’s staking control panel, where you can stake tokens. Select Staking from the Apps drop-down menu.

Select a validator that you prefer. The search box will assist you in rapidly locating the validator that you require. Choose dependable and trustworthy validators, such as Everstake, a staking service that the whole blockchain community trusts. Our delegators can stake their crypto assets with confidence. We only use high-quality servers, which allows us to achieve nearly 100 percent uptime.

Click Delegate after searching for the validator’s name in the search bar. You’ll discover relevant information next to the validator’s name, such as how many tokens have been staked, uptime, commission amount, and so on.

Select a validator that you prefer. The search box will assist you in rapidly locating the validator that you require. Choose dependable and trustworthy validators, such as Everstake, a staking service that the whole blockchain community trusts. Our delegators can stake their crypto assets with confidence. We only use high-quality servers, which allows us to achieve nearly 100 percent uptime.

Click Delegate after searching for the validator’s name in the search bar. You’ll discover relevant information next to the validator’s name, such as how many tokens have been staked, uptime, commission amount, and so on.

Allow Matic Wallet to use your wallet to conduct transactions. Click Confirm in the MetaMask extension pop-up box, as seen in the screenshot.

Wait for the transaction to be completed. Depending on how active the Ethereum network is, this could take several minutes.

You must purchase a voucher in Matic Wallet and pay for Gas to complete a transaction, stake MATIC, and begin getting rewards. Select Buy Voucher from the drop-down menu.

Set a Gas limit and price, then confirm the transaction once again. The current Gas price may be found on the Etherscan website.

Wait for the transaction to be confirmed.

Delegation is finished. You will now get incentives, which you may either withdraw or reinvest.

 

How do I increase my stakes?

Click on My Account from the Matic Wallet dashboard.

Your active delegation will be shown here.

If you have more than one validator, simply select one from the list and click Stake more. Then follow the processes outlined above to specify the amount, confirm the transaction, and so forth.

 

How do I cash out my winnings?

The minimum amount to withdraw is 2 MATIC. This money may only be withdrawn to the wallet if 2 MATIC have been credited. Reinvesting rewards is the same way. You will not be able to withdraw the benefits if the sum is less than that, but you will be able to unstake at any moment. Rewards will not be credited in this scenario. Select an active validator in the Matic Wallet dashboard and click Withdraw Reward to withdraw rewards.

Then double-check that you actually want to deposit the tokens into your wallet.

Then, in the MetaMask Wallet plugin, confirm the transaction by setting the Gas limit and price.

If the withdrawal was successful, Matic Wallet will display the following message:

Click Unbond if you want to end your delegation. Please keep in mind that the unbonding phase for the Matic Network is 80 checkpoints long. This time frame applies to both initial delegation and redelegation. If awards haven’t been redelegated, it doesn’t apply.

By connecting the MetaMask wallet to Matic Wallet, you now know how to delegate MATIC tokens, undelegate them, and collect rewards in Matic Wallet. Don’t forget to add ETH currency to your wallet so that you have enough to pay for transcations.

 

Conclusion

We hope that, with this article we made your doubts and requirments clear. Moreover, we mentioned two FAQs which helps to understand more clearly. However, we there to help for your queries in any steps. You can reach us at anytime through comment section below. 

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