Skip to main content

How do I use Polygon (MATIC) staking with MetaMask?

 


Polygon (MATIC) is a cryptocurrency and blockchain network that represents a scaling solution for Ethereum. Polygon is a Layer 2 solution that ensures transactions can be processed faster, splits the transaction load and thus achieves higher scalability than the main Ethereum network. 


Polygon

Polygon was founded in 2017 and was formerly called MATIC. As a result, it was re-branded to Polygon. Only the network token, which is responsible for communication in the network and can be used for staking. Polygon uses sidechains to distribute the transaction load in the smart contracts.


Polygon should not just remain a pure solution for Ethereum, but will be further developed into a multi-chain solution in the coming months and years, which should develop independently into an ecosystem. Due to the high scalability and the association with Ethereum, Polygon is a project that has extremely high potential in the long term.


What is MetaMask?

MetaMask is one of the most used and well-known crypto wallets. It is an online wallet that can be connected to an Internet browser. Furthermore, the MetaMask wallet can be connected to various blockchain networks. In addition to its function as a wallet, you can also use MetaMask for other functions

MetaMask is suitable as a hot wallet for numerous cryptocurrencies. Among other things, you can keep the ERC-20 tokens while using DeFi functions via MetaMask. Furthermore, MetaMask is very easy to use and has a good reputation for the security of the MetaMask wallet.


What is staking?

Staking is a process in which you provide tokens to a blockchain network to validate transactions on the network. It relies on the Proof-of-Stake consensus mechanism , which is a modern way of validating transactions on the blockchain.


Proof-of-Stake is much more efficient than Proof-of-Work , which was used by Bitcoin and, until recently, Ethereum. With staking, you make the tokens that you have acquired on the network available in a staking pool. Depending on how many tokens you provide, you can earn a certain amount of rewards in the form of new tokens. These staking rewards can earn you an annual return, expressed in the form of Annual Percentage Yield (APY).


How do I use MetaMask to stake at Polygon?

You can easily and securely use the well-known MetaMask wallet to operate staking on the Polygon Blockchain with MATIC tokens. In the following we would like to give you instructions on how to do this.


1. Add MetaMask as a browser extension

To initiate polygon staking on MetaMask, you should first download the MetaMask wallet. Use MetaMask as a browser extension! Go to the MetaMask website !

Go to “Download” and you can then choose what you want to use MetaMask for. The choice is between the browser you are currently using and iOS and Android. Select the download for your browser! This will add MetaMask to your browser.


2. Connect MetaMask to the Polygon Blockchain!

MetaMask can connect to different blockchains. To connect MetaMask to Polygon, go to the networks first! Then go to add network! Once you have clicked this, you will come to a window where you can enter the data of the Polygon Blockchain.


3. Send MATIC token on Polygon!

In order to be able to do polygon staking at MetaMask, you need to send MATIC tokens to the MetaMask wallet. You copy the address from your wallet and enter it as the destination address on the respective exchange or on another wallet. Then your MATIC tokens will be transferred to your MetaMask.


4. Connect MetaMask to Polygon Wallet!

Now when you have set up MetaMask, you need to use MetaMask with the following link: https://wallet.polygon.technology/ !


Polygon MetaMask

Go to Connect Wallet on this page and connect your MetaMask wallet! Then you can connect your MetaMask directly and use the staking functions.


5. Run Polygon (MATIC) Staking via MetaMask!

Now that your MetaMask is connected, go to Polygon Staking! You can then become a delegator there and start staking.


With these 5 steps you can quickly and easily stake Polygon's MATIC token via the MetaMask wallet.


Should you invest in Polygon (MATIC) now?

At the moment, the crypto market is in a bear market. The prices of most cryptocurrencies are particularly low at the moment. The staking rewards are also lower. But right now an investment and staking at Polygon is worthwhile. 


Your MATIC tokens will very likely be worth a lot more in the years to come than they are today. Polygon is a rapidly growing network and should see massive value gains over the next few years.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more