How to Stake Binance-Peg Cardano (ADA): A Comprehensive Guide for Australians

Introduction

Staking Binance-Peg Cardano can be a great option for those who want to hold ADA 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 Binance-Peg Cardano (ADA) Tokens
To stake Binance-Peg Cardano, you need to own it. To obtain Binance-Peg Cardano, you'll need to buy it. You can choose from these popular exchanges.
Platform Coin Cost
Azbit Binance-Peg Cardano (ADA) 0.39
Kucoin Binance-Peg Cardano (ADA) 0.39
See all 4 prices
2. Choose a Binance-Peg Cardano Wallet
Once you have ADA, you'll need to choose a Binance-Peg Cardano wallet to store your tokens. Here are some great options.
Platform Coin Staking returns
Kucoin Binance-Peg Cardano (ADA) Up to 3% % p.a.
3. Delegate Your ADA
We recommend using a staking pool when staking ADA. It's simpler and quicker to get started. A staking pool is a group of validators who combine their ADA, 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 Binance-Peg Cardano network. You'll be rewarded with ADA for these validations.

Platform	Coin	Cost
Azbit	Binance-Peg Cardano (ADA)	0.39
Kucoin	Binance-Peg Cardano (ADA)	0.39

Platform	Coin	Staking returns
Kucoin	Binance-Peg Cardano (ADA)	Up to 3% % 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.