Introduction
Staking Kusama can be a great option for those who want to hold KSM 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 Kusama (KSM) tokens
In order to stake Kusama, you need to have it. To obtain Kusama, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Kusama wallet
Once you have KSM, you’ll need to choose a Kusama wallet to store your tokens. Here are some good options.
- 3
Delegate your KSM
We recommend using a staking pool when staking KSM. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their KSM, 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 Kusama network. You’ll be rewarded with KSM 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
Kusama (KSM) is currently priced at $20.15, with a 24-hour trading volume of $12.65M. In the last 24 hours, Kusama has experienced a decrease to -0.05. The market cap of Kusama stands at $327.52M, with 8.47M in circulation. For those looking to buy or trade Kusama, reputable platforms like Uphold, Wirex, Kraken, Binance, OKX and Coinbase offer avenues to do so securely and efficiently.
- Market cap
- $327.52M
- Volume
- $12.65M
- Circulating supply
- $8.47M
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