How to Stake Komodo (KMD) in Australia

Introduction

Staking Komodo can be a great option for those who want to hold KMD 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 Komodo (KMD) Tokens

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

   Platform	Coin	Cost
   Binance	Komodo (KMD)	0.02
   Bitpanda	Komodo (KMD)	0.32
   CoinEx	Komodo (KMD)	0.04
   FMFW.io	Komodo (KMD)	0.03
   HTX	Komodo (KMD)	0.03
   Kucoin	Komodo (KMD)	0.04

   See all 12 prices

2. 2. Choose a Komodo Wallet

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

   Platform	Coin	Staking returns
   Atomic Wallet	Komodo (KMD)	Up to 5.1% % p.a.
   MyCointainer	Komodo (KMD)	Up to 0.01% % p.a.

3. 3. Delegate Your KMD

   We recommend using a staking pool when staking KMD. It's simpler and quicker to get started. A staking pool is a group of validators who combine their KMD, 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 Komodo network. You'll be rewarded with KMD 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.