How to Stake Kusama (KSM): A Comprehensive Guide for Australians

Introduction

Staking Kusama can be a great option for those who want to hold KSM 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 Kusama (KSM) Tokens
To stake Kusama, you need to own it. To obtain Kusama, you'll need to buy it. You can choose from these popular exchanges.
Platform Coin Cost
Nexo Kusama (KSM) 7.39
Binance Kusama (KSM) 7.35
BTSE Kusama (KSM) 7.35
Coinbase Kusama (KSM) 7.35
Kraken Kusama (KSM) 7.35
OKX Kusama (KSM) 18.08
See all 48 prices
2. Choose a Kusama Wallet
Once you have KSM, you'll need to choose a Kusama wallet to store your tokens. Here are some great options.
Platform Coin Staking returns
Uphold Kusama (KSM) Up to 4.8% % p.a.
Binance Kusama (KSM) Up to 10.9% % p.a.
Bitpanda Kusama (KSM) Up to 14% % p.a.
View all 17 staking rewards
3. Delegate Your KSM
We recommend using a staking pool when staking KSM. It's simpler and quicker to get started. A staking pool is a group of validators who combine their KSM, 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 Kusama network. You'll be rewarded with KSM for these validations.

Platform	Coin	Cost
Nexo	Kusama (KSM)	7.39
Binance	Kusama (KSM)	7.35
BTSE	Kusama (KSM)	7.35
Coinbase	Kusama (KSM)	7.35
Kraken	Kusama (KSM)	7.35
OKX	Kusama (KSM)	18.08

Platform	Coin	Staking returns
Uphold	Kusama (KSM)	Up to 4.8% % p.a.
Binance	Kusama (KSM)	Up to 10.9% % p.a.
Bitpanda	Kusama (KSM)	Up to 14% % 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.