How to Stake Kusama (KSM) in Australia

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. 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)	15.87
   Binance	Kusama (KSM)	11.73
   BTSE	Kusama (KSM)	11.73
   Coinbase	Kusama (KSM)	11.68
   Kraken	Kusama (KSM)	11.7
   OKX	Kusama (KSM)	18.08

   See all 48 prices

2. 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. 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. 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.

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.