How to Stake Algorand (ALGO): A Comprehensive Guide for Australians

Introduction

Staking Algorand can be a great option for those who want to hold ALGO while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.

Step-by-Step Guide

1. Obtain Algorand (ALGO) Tokens
To stake Algorand, you need to own it. To obtain Algorand, you'll need to buy it. You can choose from these popular exchanges.
Platform Coin Cost
Nexo Algorand (ALGO) 0.14
PrimeXBT Algorand (ALGO) 0.14
Binance Algorand (ALGO) 0.14
BTSE Algorand (ALGO) 0.14
Coinbase Algorand (ALGO) 0.14
OKX Algorand (ALGO) 0.24
See all 52 prices
2. Choose a Algorand Wallet
Once you have ALGO, you'll need to choose a Algorand wallet to store your tokens. Here are some great options.
Platform Coin Staking returns
Atomic Wallet Algorand (ALGO) Up to 0.63% % p.a.
Binance Algorand (ALGO) Up to 4.37% % p.a.
View all 11 staking rewards
3. Delegate Your ALGO
We recommend using a staking pool when staking ALGO. It's simpler and quicker to get started. A staking pool is a group of validators who combine their ALGO, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
4. Begin Validation
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 Algorand network. You'll be rewarded with ALGO for these validations.

Platform	Coin	Cost
Nexo	Algorand (ALGO)	0.14
PrimeXBT	Algorand (ALGO)	0.14
Binance	Algorand (ALGO)	0.14
BTSE	Algorand (ALGO)	0.14
Coinbase	Algorand (ALGO)	0.14
OKX	Algorand (ALGO)	0.24

Platform	Coin	Staking returns
Atomic Wallet	Algorand (ALGO)	Up to 0.63% % p.a.
Binance	Algorand (ALGO)	Up to 4.37% % p.a.

What to Be Aware Of

There are transaction and staking pool fees to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.