Introduction
Staking Cardano can be a great option for those who want to hold ADA but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-step
- 1
Obtain Cardano (ADA) tokens
In order to stake Cardano, you need to have it. To obtain Cardano, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Cardano wallet
Once you have ADA, you’ll need to choose a Cardano wallet to store your tokens. Here are some good options.
- 3
Delegate your ADA
We recommend using a staking pool when staking ADA. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their ADA, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
- 4
Start validating
You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the Cardano network. You’ll be rewarded with ADA for these validations.
What to be aware of
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
Latest movements
Cardano (ADA) is currently priced at $0.4449, with a 24-hour trading volume of $525.99M. In the last 24 hours, Cardano has experienced a decrease to -1.12. The market cap of Cardano stands at $16.02B, with 35.64B in circulation. For those looking to buy or trade Cardano, reputable platforms like OKX, Binance, BTSE, Kraken, YouHodler and Nexo offer avenues to do so securely and efficiently.
- Market cap
- $16.02B
- Volume
- $525.99M
- Circulating supply
- $35.64B
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