Learn exactly how to stake CELR with our comprehensive Celer staking guide. Discover the best ways to buy Celer Network tokens, step-by-step staking instructions, and expert tips to maximize your rewards while supporting layer-2 blockchain scaling.
In this guide, we will cover all essential information needed for purchasing and staking CELR tokens, enabling you to earn passive income while contributing to this pioneering scaling platform.
What is Celer Network and Why Stake CELR?
Celer Network stands out as a prominent layer-2 scaling solution, designed to facilitate swift, secure, and cost-effective blockchain transactions. It plays a crucial role in the decentralized finance (DeFi) ecosystem by enabling seamless cross-chain communication through its cBridge messaging service. The CELR token is the native currency that powers the Celer Network, offering various attractive benefits for those who opt to stake their tokens.
Benefits of CELR Staking:
- Earn Passive Income: Stakers can earn rewards from transaction fees generated through cBridge and additional network incentives.
- Network Security: By participating in staking, you contribute to the security of the State Guardian Network (SGN), which is integral to Celer’s security framework.
- Low Entry Barrier: With a minimum staking requirement of just 1 CELR, it is accessible for a wide range of investors.
- Support Layer-2 Innovation: Your stake aids in advancing blockchain scaling technologies.
Recognizing these benefits, let’s move forward to explore how to acquire CELR before we delve into the staking process.
How to Buy CELR: Step-by-Step Guide
Before you can begin staking Celer tokens, acquiring them is a necessary first step. Here’s a detailed guide on purchasing CELR:
Option 1: Buying CELR on Major Exchanges
Several well-known exchanges provide CELR trading options:
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Using Binance:
- Create an account on Binance and complete the necessary verification.
- Deposit funds via bank transfer, credit/debit card, or cryptocurrency.
- Go to the Markets section and look for CELR.
- Purchase CELR using trading pairs like CELR/USDT or CELR/BTC.
- After the purchase, transfer the tokens to your personal wallet for staking.
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Using Coinbase:
- Set up and verify your Coinbase account.
- Deposit funds using your preferred method.
- Locate CELR in the trading section.
- Execute your purchase at your desired price and transfer tokens to your staking wallet.
- Using Kraken:
- Create and verify your Kraken account.
- Fund your account with fiat or cryptocurrency.
- Navigate to the trading platform and search for CELR pairs.
- Place your buy order and withdraw CELR to your compatible wallet.
Option 2: Using Decentralized Exchanges (DEXes)
For those who favor non-custodial trading:
- Set up a wallet compatible with Ethereum, such as MetaMask.
- Fund your wallet with ETH or stablecoins like USDT.
- Connect to a decentralized exchange like Uniswap or SushiSwap.
- Swap your existing tokens for CELR, which will be stored directly in your wallet, ready for staking.
How to Stake CELR with Nansen
Nansen offers a user-friendly platform for staking CELR tokens:
- Visit the Staking Page.
- Navigate to the KAVA section on Nansen’s Staking Hub.
- Link your wallet by clicking ‘Stake’ and selecting the Ethereum network, as CELR operates on Ethereum. Nansen supports a variety of wallet connections, including Rabby, Metamask, Ledger, WalletConnect, Trezor, imloken, and Fortmatic Torus.
- Specify your staking amount by entering how many CELR tokens you wish to delegate. Be sure to leave some ETH available for transaction fees on the Ethereum network.
- Review and approve your submission. Once processed, your CELR tokens will begin accruing staking rewards right away.
Why Stake CELR on Nansen
Opting for Nansen for your CELR staking needs provides access to a dependable platform suitable for both newcomers and seasoned investors. Since acquiring StakewithUs just 4-6 months ago, Nansen has rapidly expanded, now overseeing over $1 billion in staked assets. The platform has formed partnerships with numerous leading blockchain networks and aims to incorporate additional chains and custodial services in the near future.
Disclaimer
The creators of this content and members of Nansen may hold interests or investments in some of the protocols or tokens discussed in this article. This statement serves as a disclosure of potential conflicts of interest and should not be construed as a recommendation to purchase or invest in any specific token or participate in any given protocol. Nansen does not endorse any specific actions concerning tokens or protocols. The content provided is intended for educational and informational purposes only and should not be viewed as financial, investment, legal, tax, or any other type of professional advice. Readers are strongly encouraged to exercise caution and consider their personal circumstances before making decisions related to token purchases or protocol participation. The opinions expressed in this content may change at any time without prior notice. Nansen assumes no responsibility for any losses or liabilities that may arise from the use or reliance on this information.
