Staking AVAX on Metamask, Here is a guide to stake Avalanche (AVAX) for maximum returns!
Stake AVAX on Metamask means that you lock your avax coins so that you can earn profit. You can stake your AVAX in multiple ways.
Avalanche helps developers to create their decentralized applications easily, making it an outstanding blockchain network. The platform also has fewer gas fees for transactions, which makes it superior to decentralized blockchain platforms like Ethereum.
The smart contract platform of Avalanche has a native cryptocurrency called AVAX, and it’s gaining popularity as an Ethereum alternative.
The easiest way to stake AVAX is to put It in the official avalanche wallet through Metamask. Here are the steps that you need to stake AVAX on Metamask.
Can you stake on Metamask?
Staking using Metamask connects you to staking websites in a much more secure way. Using this method, you can earn good interest on various cryptocurrencies on their staking websites. Each cryptocurrency will be staked using different techniques and websites.
Metamask is the key to making money with cryptocurrencies in this crypto Bull run! Metamask was initially designed for Ethereum, but adding other EVM-compatible blockchains like the Avalanche blockchain and Avalanche C-Chain is easy.
To learn more about the avalanche coin, check out https://www.avax.network/.
How to set up avalanche on Metamask
Log in to MetaMask
Click the Network
Click on Custom RPC
Copy and paste the information as shown below:
Network Name: Avalanche Network
New RPC URL: https://api.avax.network/ext/bc/C/rpc
Explorer: it is optional
Then click on save.
How to send AVAX to Metamask
After buying some AVAX, open your wallet on the Binance exchange, select (AVAX), and click withdraw.
Now, it’s time to send AVAX cryptocurrency from Avalanche wallet to Metamask for staking.
1. You must transfer your coins from one blockchain to another by following the steps below.
2. Go to your MetaMask wallet and copy the address. Make sure you are on the Avalanche network.
3. On your exchange Click Submit, then select C chain, enter your desired crypto Amount, paste the address you copied from MetaMask, and confirm
After completing the transaction, look at your history by clicking on Deposit Withdrawal History and then Withdrawal History.
How to add AVAX to Metamask
If you add avalanche blockchain in Metamask, you will see avax coin. But on other blockchains, you have to add avax coin. We will learn how to add avax coin in Metamask on Binance Smart Chain.
To add AVAX to the Metamask, choose BSC blockchain in the Metamask wallet, then copy the BSC contract address of AVAX from the Coinmarketcap site and paste it to the “add token” section in the Metamask. See the following figure.
Be careful to send AVAX in Binance Smart Chain.
At the next step, Metamask asks to enter the contract address of the Cryptocurrency (see the following figure)
Enter the Token contract address and add a specified token to the wallet.
Staking avalanche on Metamask
To stake AVAX on Metamask, go to https://wallet.avax.network and create a new wallet. After that, go to your Metamask wallet and transfer your AVAX to the AVAX c chain address
1. Click on the earn button on your AVAX main wallet.
2. To stake your avalanche coins, you need to transfer them from the c chain to the x chain and then from the x chain to the p chain. Click on transfer.
3. Now click on the source chain and choose the c chain, which is the contract chain, and you are only allowed to transfer to the x chain. Choose the amount, automatically deduct the import fee, and then click on confirm. Once you click on transfer, it will generate the transaction, start processing, and continue to import it to the exchange.
4. Once all that is done, you can transfer your exchange coins similarly to the p chain.
5. Click on start again and choose the source chain as the x chain; then, the destination will be the p chain.
Send avax from Metamask to avax wallet
6. Now choose the amount again and click on transfer. Once the transaction has been completed, click on earn again.
7. Now, you have to delegate your Coins to a validator, so you can earn some staking rewards. Click on add delegator.
8. You will see a list of nodes. Find the node that you want to be based on your filters and select it.
Select how much AVAX you are going to delegate and then click on confirm.
9. Click submit to confirm your transaction
If your chosen validator is working while you are staking, you receive a profit after delegating your avax to them. The process of rewarding the delegators is the same as validators. But, the validator holds a percentage of your profit.
After 21 days, your earnings will be available for you to get. And that is how you stake your AVAX on Metamask. Also, there are some other ways for you to transfer your AVAX for less gas fee, like using https://traderjoexyz.com.
Avalanche’s ecosystem does not implement slashing, unlike other POS mechanisms that implement slashing to punish validators for malicious activities, and staking AVAX helps to support and secure the Avalanche blockchain actively.
Staking AVAX on Metamask is a reliable way of generating yields on your idle AVAX. Thanks to the wallet integration, you can start delegating with just 25 AVAX on your account. This method is easy and helpful for those who want to earn passive income. Remember that this article is for educational purposes only and is never intended to be financial investment advice.