Where to stake Fantom(FTM) tokens and earn passive income? In this guide an exclusive view on the best places to stake Fantom crypto!
Over the past decade, we have witnessed the rise of cryptocurrencies and decentralized networks. Also, you may have witnessed the high volatility which is second nature for these very young assets. From an investor’s perspective, this was a good reason to stay away from these very risky markets.
As a result of this, the Ethereum blockchain introduced a new way for investors to earn a passive income by holding coins. Moreover, this is a very popular concept that attracts a lot of new investors trying to earn passive income with the cryptocurrency markets. Imagine, just the idea of earning additional crypto’s on your bags altogether with high yields makes them willing to take the step to this new industry.
The concept I’m talking about is called staking which in short allows cryptocurrency holders to earn additional cryptocurrency with low risk.
In this guide, I’m going to discuss the best places to stake Fantom or FTM tokens. Also, a detailed plan to start staking FTM tokens on the different platforms.
Best places to Stake Fantom
- Binance(Best option for beginners👶)
- Okex(Best place for Asian investors 🌏)
- Coinbase(Best wallet to run as browser-extension 🔘)
- Ledger Nano(Best option for offline staking 🔐)
- fWallet(Best wallet for FTM early birds 🐦)
- SpookySwap(Best platform for DeFi staking 🔴)
What is Fantom(FTM) and what makes Fantom special?
Fantom is an innovative decentralized blockchain network that aims to facilitate DeFi and related services on the basis of smart contracts.
Like any other crypto network, Fantom uses a consensus mechanism to handle and secure all transactions on the network. In other words, a consensus mechanism is an engine that powers the entire blockchain network.
In addition, this mechanism is called Lachesis and in general, it validates and secures all transactions and Dapps on Fantom. Compared to other blockchains Fantom is faster, more scalable, and more secure thanks to this Lachesis mechanism.
In particular new developers who want to create smart contracts on this network, can easily build without the need to worry about creating an extra layer of security and code.
In short, the Fantom network(Lachesis) can be summarized:
- Asynchronous(Flexible at using commands at different times)
- No central leader
- Byzantine Fault-Tolerant: malicious nodes are tolerated(maximum of one-third)
- Transactions can be confirmed within 2 seconds
Finally, its in-house PoS token, FTM, forms the backbone of transactions and allows fee collection and staking activities, along with the user rewards the latter represents.
How does staking Fantom work?
In general, staking Fantom from a wallet works by delegating your tokens to validators who process transactions and run the network.
Delegating a stake is a shared-risk shared-reward financial model that may provide returns to holders of tokens delegated for a long period. This is achieved by aligning the financial incentives of the token-holders (delegators) and the validators to whom they delegate.
Additionally, the returns or yield for staked tokens is based on the current inflation rate, the total number of FTM staked on the network, and an individual validator’s uptime and commission (fee).
Ultimately, no specific technical expertise or investment in costly hardware devices is needed. You just simply lock up your FTM coins in a wallet and get rewarded while you sleep! 😄
Best platforms to stake Fantom Crypto: Comparison
To continue, this comparison guide provides an overview of where to stake Fantom to earn rewards and a passive income. The research is based on assessing the platform’s features, estimated annual yield, staking type, and level(crypto user).
|1 – 6.4%
|4 – 14%
|4 – 14%
|4 – 14%
|10 – 50%(*)
* Nexo is a Crypto Lending platform and doesn’t offer staking services, however, Fantom is cooperating with Nexo on this.
Staking Fantom(FTM) at Cryptocurrency Exchanges
If you already have an account at Binance or Okex and practice some cryptocurrency trading already, then the easiest way would be to start staking FTM there. Below I’ll explain the options you have for staking Fantom on the most popular exchanges in the world.
Based on daily(24h) trading volumes, Binance is the biggest cryptocurrency exchange in the world. Also, it has millions of cryptocurrency traders using its platform on a daily basis. Besides trading, Binance offers several other feature-rich products, including custodian wallets, crypto margin trading, lending service, and earning rewards with staking.
Trading a Binance can be done with almost zero fees(0.075%) and you can use this link when signing up. It will give you an additional 10% discount on fees for life 🙂
At the time of writing, Binance offers 50(+) staking products such as FTM for its users to enjoy free staking rewards by simply depositing and holding coins on Binance. Moreover, there are no fees involved when staking FTM tokens on Binance.
POS staking Fantom at Binance
|Locked(30/60/90 – days)
The benefit of staking FTM on Binance is that cryptocurrency traders can opt to stake Fantom tokens while waiting for a trade. Traders can benefit from the staking rewards in addition to potential trade profit.
Steps to start staking Fantom on Binance
To start with staking Fantom(FTM) at Binance, follow these steps:
- Create a free account at Binance
- Navigate at ‘Finance’ at the top menu and choose ‘Binance Earn’
- Enter FTM in the Dropdownlist(just below ‘Binance Earn‘ header)
- If you don’t have FTM funds in your wallet ‘Market buy’ some or deposit
- Click ‘Subcribe’ button and store FTM tokens here
|🔔 If you are interested in trading, buying, or selling crypto(Fantom) but don’t have experience with a trading interface. Read my helpful guide: Start crypto trading at Binance.
Okex is a trading platform specialized in cryptocurrencies and has its headquarters in Beijing. Besides delivering service for Bitcoin exchanges and trades, the platform is also a payroller and lending app for retailers.
Particularly, Okex is part of the bigger Okcoin consortium specialized in online futures trading. In 2018, Okcoin migrated its futures platform with cryptocurrencies which resulted in the Okex platform. One of the big benefits of this Okcoin migration is that Okex has strong liquidity in BTC/USD and LTC/USD trading pairs.
Okex a popular platform to stake FTM
Okcoin maintains two leading entities, whereby one has its focus on the Chinese internal market. In addition, the other entity has a broader focus aimed at the global market and has its headquarters in Hong Kong.
Okex and Okcoin together are one of the bigger cryptocurrency exchanges in the world. For instance, if you take a look at their trading volume which exceeds 4.8 billion US dollars in just 24 hours.
At the time of writing, OKEX offers 50(+) staking products such as FTM for its users to enjoy free staking rewards by simply depositing and holding coins on their platform. Moreover, there are no fees involved when staking FTM tokens on OKEX.
Important: Sign up with this link and buy $100 in FTM. Additionally, you get $15 in FTM back when trading at Okex.
Steps to start staking Fantom at Okex
- Create a free account at Okex
- Navigate at ‘Finance’ at the top menu and choose ‘Earn’
- Scroll a bit down and enter FTM symbol in search bar
- Now click select button
- Choose the appropriate staking period and click ‘Subscribe‘
- Finally enter the amount of FTM and click ‘Continue’
- Fantom staking should start immediately
For unstaking Fantom(FTM) on OKEX, you have to wait one 1 day or 24 hours if you are using the ‘Locked staking‘ feature. After this period your funds will be available in your trading account.
|🔔 If you are interested in trading, buying, or selling crypto(FTM) but don’t have experience with a trading interface. Read my helpful guide: Start trading crypto at OKEX.
Staking Fantom(FTM) from crypto wallets
Next, a list of cryptocurrency wallets you can use to stake Fantom tokens without leaving the coins at a third-party platform like a centralized cryptocurrency exchange. Also, these places to stake Fantom give you full control over your cryptos.
Ledger Nano hardware wallet
If you favor being in full control of your own cryptos then the Ledger Nano hardware wallet should be it. Particularly, the Ledger Nano wallet is a USB storage wallet with Bluetooth connectivity available.
Also, this way it’s possible to store your cryptocurrencies offline which is the most secure option. Furthermore, the wallet enables users to perform a wide variety of functions, including sending and receiving bitcoin from blockchains or running third-party apps on the device.
Besides storing coins on the wallet, users can also purchase new crypto because of Ledger wallet uses a built-in exchange feature. This feature uses a third party(Coinify) so buying comes at a cost: 4.5% credit card fees or 1.7% for bank transfers.
Staking Fantom with Ledger Nano
Firstly, I want to mention that FTM staking isn’t officially supported by Ledger and therefore you can only store tokens offline with this device. However, if you favor keeping your private keys offline then you can still do this in combination with the Fantom web wallet.
Particularly, this wallet is designed by the Fantom developers community and has a built-in hardware wallet feature. More on this will be explained in the next chapter. More info on configuring Ledger with Fantom can be found here.
|⚠️ Warning: Always make sure to buy your Ledger Nano devices from the official online store. In fact, third-party sellers have been known to tamper with Ledgers.
Next in the summary guide in best places to stake Fantom is Coinbase Wallet. Additionally, this is a Chrome-browser extension(download here) that is designed by the Coinbase trading platform.
Moreover, the Coinbase Wallet extension is the safest and easiest way to use crypto apps in your browser. Particularly, Coinbase Wallet is a non-custodial wallet product that lets customers store their own crypto and use dapps. Through the Wallet extension, you can use hundreds of dapps, trade tokens on DEXes, earn interest on your crypto and purchase NFTs.
Finally, with Coinbase Wallet, users can easily access and use the Fantom network and engage with a number of Fantom dapps.
Getting started to stake FTM with Fantom wallet
First, connect to the Fantom Opera network:
- Log in to the Coinbase Wallet
- Simply click ‘Settings‘ icon
- Select ‘Active network‘, and select ‘Fantom Opera‘
Getting started with Fantom(fWallet)
Once connected to the Fantom network on the wallet app, users can get started by connecting Coinbase Wallet to the Fantom fWallet.
(Remember that in the next chapter the Fantom fWallet will be explained in more detail, maybe check this chapter first to continue.)
- Head over to Fantom fWallet to get started
- Click on ‘Connect Wallet‘
- Select the Coinbase Wallet option
- Fund / deposit FTM or any other compatible asset
- Staking Fantom can be done from here
Another option in wallets that support staking FTM is fWallet. In particular, fWallet is the officially supported wallet by the Fantom team meant for storing and receiving FTM tokens. Other tokens that are supported with fWallet are stablecoins fUSDT and USDC. On top of that fWallet is also compatible with other wallets like Metamask, Ledger, and Coinbase Wallet.
Particularly, because the fWallet is designed for FTM tokens and runs on Fantom blockchain this wallet has some specific features:
- Fluid rewards – A very flexible way of staking FTM. You can choose what period you want to lock up FTM (1 year for 14% APY) or ( just stake with no lock up for 4% APY)
- Liquid staking – Use your FTM to provide liquidity(DeFi) and start minting sFTM at 1:1 ratio. Moreover, these minted sFTM can be used as collateral in Fantom Finance.
- Validator node – If you have acquirred 500000(+) FTM, it’s time to run a full node or validator node. The big benefit is that you earn staking rewards and on top of that 15% fees for delegator rewards. Nice way of passive income 😆
How to stake FTM with fWallet
To start staking Fantom with fWallet, you can do this by following these steps:
- At fWallet create a new wallet, or connect with an existing one(Coinbase, Ledger, or Metamask)
- Deposit your FTM here. You can use any exchange like or
- Choose a validator. Lock your coins for a year(14% APY) or stake as you go(4%)
- Start earning rewards
Staking FTM with Ledger hardware wallet
As stated earlier in this guide, you can also use a hardware wallet like Ledger Nano to store the private keys offline. Also, you can use this device in combination with the Fantom web wallet to stake FTM. How to do this?
- Make sure you have some FTM stored with Ledger device
- Go to the fWallet url
- Click on ‘Connect Wallet’
- Next choose ‘Ledger‘ to access your wallet
- For delegated staking see steps above
Recommended: Best hardware wallets for staking crypto offline
SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) for the Fantom Opera network. Different from other DEXs, they implemented a strong foundation with the BOO token as a governance token, diverse farms, a built-in bridge, built-in limit orders, and user-centered service.
Simply put, a modern DeFi platform that operates on the Fantom Blockchain and can be used in combination with FTM token.
How does staking/farming on SpookySwap work?
To start earning on SpookySwap you need some FTM tokens first. Additionally, the best way to do this is to store them in Metamask and use this wallet to connect to SpookySwap.
The next step to start earning with SpookySwap is to provide liquidity. Moreover, you can do this with the FTM tokens in your wallet. In short, the way this works is that you supply FTM in combination with some other token(for instance USDC). Make sure that both have exactly the same amount.
As a result of providing liquidity, you will earn 0.20 rewards in fees(BOOs) and also some liquidity tokens(spLP). To continue, you can use these spLP tokens to start farming to earn BOO tokens. In others words, you can stake your spLP tokens and earn rewards in BOO.
More information on how providing liquidity with SpookySwap works can be found here.
Is staking Fantom worth it?
Staking Fantom is currently a very popular method among crypto enthusiasts to generate passive FTM income with zero risks. In this guide in which I covered where to stake Fantom in greater detail, I also compared the different platforms in terms of rewards and lock-up periods.
Additionally, the idea of staking Fantom(FTM) is simple where every single FTM token will generate new ones. Moreover, Fantom or the FTM token is a rising asset in terms of value where even holding a small amount can make a difference in the long run.
All in all, whatever option you decide to choose, staking FTM is a perfect solution for you to earn additional cryptocurrency while you sleep.
The following articles might also be a good read for you:
- 7 Best Exchanges To Buy Avalanche Crypto
- Top 5 Do’s and Dont’s of Cryptocurrency Wallets
- How To Buy Ethereum with Bitcoin(4 Ways)
- Crypto Lending vs Staking: Which concept generates the most Passive Income?
- 7 Reasons Why You Should be Staking Your Crypto
📣Important: List of top Crypto Projects
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|🎁 Swapzone: Find the best crypto offer
|🚀 Bitsgap: Best Automated Trading Bots
|💲 Nexo: Reliable Crypto Lending Platform and get $25 free Bitcoin
***To be Profitable in the markets
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