How to Stake Ethena (ENA) in Australia

Introduction

Staking Ethena can be a great option for those who want to hold ENA 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. 1. Obtain Ethena (ENA) Tokens

   To stake Ethena, you need to own it. To obtain Ethena, you'll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Cost
   PrimeXBT	Ethena (ENA)	0.2
   YouHodler	Ethena (ENA)	0.2
   Binance	Ethena (ENA)	0.2
   BTSE	Ethena (ENA)	0.2
   Coinbase	Ethena (ENA)	0.2
   Kraken	Ethena (ENA)	0.2

   See all 55 prices

2. 2. Choose a Ethena Wallet

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

   Platform	Coin	Staking returns
   YouHodler	Ethena (ENA)	Up to 15% % p.a.

3. 3. Delegate Your ENA

   We recommend using a staking pool when staking ENA. It's simpler and quicker to get started. A staking pool is a group of validators who combine their ENA, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 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 Ethena network. You'll be rewarded with ENA 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.