The first instinct when staking your EGLD is to choose the provider that offers the highest APR and has enough available space to accommodate your staking needs. Though this strategy is the most convenient in terms of effort, it might not always be the best.

APR is important, but there are other things worth considering: Public opinion, community engagement, availability, node status, available space remaining, and verified status are of equal importance. Let’s dive into them one by one.

Public opinion

Other people’s experience with a provider doesn’t guarantee the same experience for you, but in most cases, it proves to be really useful in understanding how that provider operates.

Community engagement

Is that provider actively involved in community-centered developments? Are they bringing any valuable contributions to the ecosystem?

Tools, open-source resources, and educational content are usually great signals of their commitment.

Availability

Having a Telegram presence on the official channels, their own dedicated channel, and a website with contact options clearly displayed are always a plus in situations where questions or issues might arise.

Node status

As 3200 nodes periodically alternate between active and waiting states only producing rewards when active, nodes in the validators queue are not producing rewards at all.

This is an important fact to keep in mind when considering a staking provider.

Available space remaining

How much staking space a provider has available is an important thing to consider as it directly influences the APR. It’s possible for the APR to significantly reduce as more staking space is occupied.

Verified status

Some providers bring proven experience in delivering staking services, valuable tools, resources & other contributions to the ecosystem, thus earning a blue Verified checkmark.

Even though staking is a safe process and you have complete ownership of your funds at all times, doing your due diligence before choosing a provider has its perks.

Taking the time to research beforehand usually translates into a smooth and event-free experience.

You can find the official MultiversX Staking Providers here: https://explorer.multiversx.com/providers