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

Introduction

Staking 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 Cardano (ADA) Tokens
To stake Cardano, you need to own it. To obtain Cardano, you'll need to buy it. You can choose from these popular exchanges.
Platform Coin 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
See all 73 prices

Platform	Coin	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

2. Choose a Cardano Wallet

Once you have ADA, you'll need to choose a Cardano wallet to store your tokens. Here are some great options.

Platform	Coin	Staking returns
YouHodler	Cardano (ADA)	Up to 7% % p.a.
Uphold	Cardano (ADA)	Up to 1.48% % p.a.
Atomic Wallet	Cardano (ADA)	Up to 5% % p.a.
Bake	Cardano (ADA)	Up to 2.5% % p.a.
Binance	Cardano (ADA)	Up to 2.1% % p.a.

View all 31 staking rewards

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 Cardano network. You'll be rewarded with ADA for these validations.

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.