How to Stake Cardano (ADA): A Step-by-Step Guide

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 Guide

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.
Platform Coin Price
Nexo Cardano (ADA) 0.69
PrimeXBT Cardano (ADA) 0.68
Uphold Cardano (ADA) 0.68
YouHodler Cardano (ADA) 0.68
Kraken Cardano (ADA) 0.69
OKX Cardano (ADA) 0.69
See all 73 prices
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.
Platform Coin Staking rewards
Uphold Cardano (ADA) Up to 1.4 APY
YouHodler Cardano (ADA) Up to 7 APY
Binance Cardano (ADA) Up to 2.1 APY
Bitget Cardano (ADA) Up to 2.5 APY
See all 31 staking rewards
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.

Platform	Coin	Price
Nexo	Cardano (ADA)	0.69
PrimeXBT	Cardano (ADA)	0.68
Uphold	Cardano (ADA)	0.68
YouHodler	Cardano (ADA)	0.68
Kraken	Cardano (ADA)	0.69
OKX	Cardano (ADA)	0.69

Platform	Coin	Staking rewards
Uphold	Cardano (ADA)	Up to 1.4 APY
YouHodler	Cardano (ADA)	Up to 7 APY
Binance	Cardano (ADA)	Up to 2.1 APY
Bitget	Cardano (ADA)	Up to 2.5 APY

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 with a 24-hour trading volume of $1.27B. The market cap of Cardano stands at $32.98B, with 35.86B ADA in circulation. For those looking to buy or trade Cardano, Uphold offers avenues to do so securely and efficiently}

Market cap: $32.98B
24h volume: $1.27B
Circulating supply: 35.86B ADA

See latest information

Frequently Asked Questions About Staking Cardano (ADA)

What is Cardano (ADA) staking?: Staking Cardano (ADA) involves participating in the network by delegating your ADA to a stake pool to earn rewards. It helps secure the network and is an easy way to earn passive income from your ADA holdings while maintaining ownership of your ADA.
How often are staking rewards distributed?: Cardano staking rewards are typically distributed every 5 days, which is known as an 'epoch'. However, the initial rewards may take 15-20 days. It's important to stay updated on the frequency and rate of rewards via reliable platforms.
What affects the amount of staking rewards I earn?: The amount of staking rewards depends on factors like the total staked amount, the chosen stake pool's performance and fees, and the network conditions. Use comparison tools on Bitcompare for informed decision-making.
Can I lose my ADA by staking?: No, staking your ADA does not involve transferring ownership, so you retain full control of your funds. However, ensure you're informed about potential risks by regularly consulting trusted resources and comparison platforms.
Is there a minimum amount of ADA required to stake?: There is no mandatory minimum amount of ADA required to stake, but individual exchanges or platforms might have their own requirements. Check Bitcompare for the most current exchange information and requirements.
How do I choose a Cardano stake pool?: When choosing a stake pool, consider factors like performance, fees, and pool size. For informed choices, use the tools on Bitcompare to compare real-time data, rates, and pool reviews.
Do I need to leave my computer on to earn staking rewards?: No, you do not need to keep your computer on to earn staking rewards. Once delegated, your ADA will earn rewards passively. Stay informed on such developments using Bitcompare's resources.
Can I change the stake pool after delegating my ADA?: Yes, you can change your stake pool anytime without penalties, but note changes are effective starting from the next epoch. Stay updated with Bitcompare's alerts to optimize your staking strategy.