Hedera Hashgraph has released “Native staking”, which allows you to earn HBAR by taking your HBAR to a node, but how do I know which node to stake to?
What is a node?
When you stake your cryptocurrency, you stake it to a node. The node you choose decides how much you get rewarded, if you get rewarded and when you get rewarded.
A node is one of the computers that run the hashgraph’s software to validate and store the complete history of transactions on the network and each node is different. In this blog, we will show you how to choose a node to stake on and which will potentially give you the best rewards!
Which node do I stake with?
You can only stake to one node at a time so it’s important to understand which node is best and which node’s to avoid.
When looking at a node to stake to, there are a few things to keep your eye on.
- The first of which is the ‘Minimum Staked’ category, it will either be a red X or a green tick. What the red X signifies is that the node currently has not reached the minimum staking threshold to start rewarding those who are staking on that node, and a green tick signifies that the node has reached the minimum staking threshold and is rewarding those who stake on that node a portion of the earnings.
- Once you find a node which has met the minimum staking threshold, the next category to look at is the ‘Max Stake Exceeded’ category. This again will either be a red X or a green tick, but this time, if it is a green tick it means that all available tokens to stake on that node have been filled and there is no room for anymore but if it is a red X that means there is still room for more tokens and it is available to stake.
- Finally, identify the node(s) which have a green tick on ‘Minimum staked’ and a red X on ‘Max Stake Exceeded’, you look at the ‘Unrewarded Stake %’ category. What you are looking for here is the highest number which identifies the percentage of rewards which have not been rewarded, the higher the number, the more you will get rewarded.
So, once you have found the node which best suits the criteria, select it, then input your private key to start staking your HBAR on that node. You can unstake and stake on a different node at any time so don’t worry about staking on the wrong node.
To know if you are staking on the node or not, the node you selected will be highlighted to signify that you are staking with that node.
How do I get rewarded for staking with Yamgo?
To earn your staking rewards through Yamgo, all you have to do is select a node which you have decided is best to stake on and every day when you claim your daily Boost or earn a reward with Yamgo you’ll get your staking rewards! If you’re wondering what exactly staking is with Hedera Hashgraph, read our blog on what proxy staking is with Hedera Hashgraph!