Earn up to
7% APY
A comprehensive guide on how to stake Cardano (ADA)
We have a wealth of information on staking Cardano (ADA) and we're excited to share some of this with you.
We present some staking options with other cryptocurrencies that may pique your interest.
Cardano (ADA) is currently priced at US$1,8 with a 24-hour trading volume of US$1,27B. The market cap of Cardano stands at US$32,98B, with 35,86B ADA in circulation. For those looking to buy or trade Cardano, YouHodler offers avenues to do so securely and efficiently
Staking Cardano can be an excellent choice for those looking to hold ADA while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.
To stake Cardano, you first need to acquire it. To obtain Cardano, you'll need to buy it. You can select from these popular exchanges available in South Africa.
| Platform | Mint | Cost |
|---|---|---|
| Nexo | Cardano (ADA) | 0,39 |
| PrimeXBT | Cardano (ADA) | 0,39 |
| YouHodler | Cardano (ADA) | 0,39 |
| Binance | Cardano (ADA) | 0,39 |
| BTSE | Cardano (ADA) | 0,39 |
| Coinbase | Cardano (ADA) | 0,39 |
Once you have ADA, you'll need to choose a Cardano wallet to store your tokens securely. Here are some solid options to consider.
| Platform | Mint | Staking rewards in South Africa |
|---|---|---|
| YouHodler | Cardano (ADA) | Up to 7% APY |
| Uphold | Cardano (ADA) | Up to 1,48% APY |
| Atomic Wallet | Cardano (ADA) | Up to 5% APY |
| Bake | Cardano (ADA) | Up to 2,5% APY |
| Binance | Cardano (ADA) | Up to 2,1% APY |
We recommend using a staking pool when staking ADA. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their ADA, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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.
There are transaction and staking pool fees you need to take into account. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this process can take some time.
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