The Fantom (FTM) coin fuels the Fantom ecosystem and engages in various activities, encompassing payments, fees, and network governance. It operates as a proof-of-stake (PoS) asset – allowing regular users to safeguard the network by pledging their FTM coins.
Where Can You Stake Fantom’s Native Coin FTM?
1. Binance
Binance leads the roster of supreme Fantom staking platforms for various reasons. Firstly, it’s the globe’s largest cryptocurrency exchange concerning liquidity and trading volume. Users from nearly every corner of the world can utilize the exchange’s services. Apart from trading over 300+ cryptocurrencies, the staking feature allows users to garner rewards by staking 60+ assets in the Binance staking pool, which encompasses FTM.
Cryptocurrency staking is accessible on both mobile and desktop app solutions on Binance. Binance provides both adaptable and locked staking for FTM. Locked staking permits FTM stakers on Binance to secure their assets for specified durations between 30, 60, and 120 days. Assets locked up for these durations cannot be redeemed until their expiration elapses.
The alternative is Flexible staking, where investors can unstake their assets whenever desired. The Fantom staking rewards percentages are 1.49%, 2.39%, and 2.9%, corresponding at the time of writing. Conversely, flexible staking boasts a 2.85% real-time annual percentage rate (APR). For example, a trader investing the maximum 300 FTM at a 2.9% yield would earn an estimated 2.86 FTM on redemption day – which is 120 days from the subscription date. Binance enforces minimum and maximum staking limits. This table highlights the minimum and maximum staking limits on Fantom.
2. ByBit
Bybit is another esteemed cryptocurrency exchange to contemplate when pondering trading and investing in cryptocurrencies. The Singapore-based centralized exchange also grants investors access to cryptocurrency staking. This allows FTM holders to effortlessly stake their assets on the platform via Bybit Savings. However, Bybit solely supports flexible staking for FTM. There are no stipulated staking periods, but there are minimum and maximum investment limits. The annual yield for flexible staking is 1.80%. Since the investor isn’t obligated to stake their FTM in the staking pool for an extended period, they can stake and un-stake assets as frequently as desired without incurring any penalties.
Unlike Binance, Bybit imposes management fees for staking, but the exchange asserts that this is typically reflected in the APY. Essentially, investors need not pay any additional fees to stake FTM coins on the platform. However, the 1.80% APY offered by Bybit for a minimum of 30 FTM is somewhat modest. Investors can stake the same on OKX for up to 9.07% or earn a 2.9% yield on Binance.
3. Fantom Wallet
Fantom Wallet enables investors to stake directly in its crypto-staking pool. The Fantom’s exclusive staking wallet is not a cryptocurrency exchange like other platforms scrutinized in this guide. This implies FTM holders will need to procure the coins elsewhere and transfer them to a Fantom wallet (fWallet).
There is no requirement for sophisticated devices or nodes. There is a minimum staking amount of 10 FTM and a maximum of 2,000,000 FTM. Lockup periods range from 14 days to 365 days, the maximum lockup period on any FTM staking platform compared. The staking APY varies by the chosen lockup periods, but the minimum staking reward is 1.80% APY up to 6% APY. Those preferring flexible staking can also stake FTM with no lockup, with a base interest rate of 1.80% APY.
4. KuCoin
KuCoin is a preeminent altcoin exchange recognized for its substantial liquidity and nominal trading fees. It is also one of the finest crypto-staking platforms with a streamlined process. The exchange provides both fixed and flexible staking options for FTM coins.
The estimated staking reward for Fantom on KuCoin is 1.57% APR, with a minimum staking quantity of 50 FTM and a maximum of 500,000 FTM coins. Investors can stake Fantom on both desktop and mobile app options. A significant advantage of staking with KuCoin is the absence of staking fees. Users can garner maximum returns on their investments with zero costs. While the staking reward is modest, we perceive the zero staking fees as a gratifying development.
At The End
The FTM coin acts as the internal currency on the Fantom platform. It is used to pay transaction fees and incentivize network participants. FTM can be mined on various cryptocurrency platforms such as Binance, OKX, Fantom, and KuCoin. Investors who are cautious of risks can stake the asset in return for periodic rewards. This article by the VR Solider explained where to stake FTM and unveiled the optimal platforms to earn FTM staking rewards.
