Introduction
Staking Cosmos can be a great option for those who want to hold ATOM 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 Cosmos (ATOM) tokens
In order to stake Cosmos, you need to have it. To obtain Cosmos, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Cosmos wallet
Once you have ATOM, you’ll need to choose a Cosmos wallet to store your tokens. Here are some good options.
- 3
Delegate your ATOM
We recommend using a staking pool when staking ATOM. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their ATOM, 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 Cosmos network. You’ll be rewarded with ATOM 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
Cosmos (ATOM) is currently priced at $6.18, with a 24-hour trading volume of $117.42M. In the last 24 hours, Cosmos has seen an increase to 0.12. The market cap of Cosmos stands at $2.41B, with 390.93M in circulation. For those looking to buy or trade Cosmos, reputable platforms like PrimeXBT, M2, Uphold, Wirex, Kraken and Binance offer avenues to do so securely and efficiently.
- Market cap
- $2.41B
- Volume
- $117.42M
- Circulating supply
- $390.93M
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