Do you have some EGLD and are wondering what to do with it? EGLD is a promising token that powers the MultiverseX ecosystem, formerly known as Elrond, and there’s so much you can do with it.
Like any other crypto token, you can simply buy and hold it in anticipation of a price increase. This is what most beginners do, and is a good strategy for staying away from risks of any kind. Some may trade the token against other tokens or stablecoins such as USDT.
This is the most advanced way of putting EGLD to use, as you need advanced trading knowledge and experience to do it profitably. Beginners are advised to stay away from this until they have perfected the art of trading.
The third way to put EGLD to use is by staking the tokens. This process isn’t as easy as simply buying and holding, but it’s also not as difficult as active trading. You simply lock your EGLD on a platform to contribute towards supporting the network, and in return you’re paid rewards for your contribution.
If you’re keen on earning passive income, this is the best way to do it. In this guide, we highlight the best staking pools you can use to stake your EGLD and start earning passive income today.
Valid Blocks
This is a popular staking pool for non-custodial staking, which means you get to retain control of your tokens while staking. If you’re very conscious of the security of your tokens, this is a great choice.
Valid Blocks is a trusted staking pool that has been in existence since the invention of proof of stake. The pool runs non-custodial delegation services for the Elrond Network, which allows you to stake EGLD tokens to earn rewards.
You can earn up to 20.74% on your staked EGLD. simply connect your wallet to the pool, choose how much EGLD you wish to stake and stake it. You can monitor your rewards directly on the dashboard and choose to compound your rewards to earn even more.
Partner Staking
Elrond network has a a number of staking providers, one of which is Partner Staking. It is a platform that has backing from early investors in Elrond, and so is a trusted ally when it comes to staking of EGLD.
The platform is easy to use, and also has a mobile app that stakers can use on both Android and iOS devices to stake EGLD. you can earn up to 17.45% by staking EGLD on this platform, but they charge a 16% service fee on your rewards.
Anyone can use this platform because of its simple design which is intended to cater to all kinds of users, not just experienced stakers.
Trust Staking
This is a trusted and easy to use EGLD staking platform that runs PoS nodes for public decentralized blockchains. The platform is customer-oriented, with everything being designed to make the user experience more superb.
The platform was the first to create a tutorial for all agencies explaining the process of deploying the new Elrond Delegation Manager. This makes it another trusted ally of Elrond when it comes to staking EGLD.
It uses top hosting providers to ensure that it is always available to serve the needs of users who wish to stake their EGLD. Trust Staking offers 18.07% reward for staking EGLD, and a service fee of 15%.
Sikka
Sikka provides blockchain infrastructure that provides delegation services to a large community. The platform currently manages over $200 million in assets on five different networks including Elrond.
Their commitment to supporting projects that promote decentralization is what brought them into collaboration with Elrond. It currently runs high availability secure cryptographic signing nodes to validate some of the largest Proof of Stake blockchains.
You can earn up to 18.68% APR on your staked EGLD, and the service fee is lower at 13% of your reward earnings.
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