How to Stake Optimism (OP) in Australia

Introduction

Staking Optimism can be a great option for those who want to hold OP 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 Optimism (OP) Tokens

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

   Platform	Coin	Cost
   Nexo	Optimism (OP)	0.32
   PrimeXBT	Optimism (OP)	0.32
   YouHodler	Optimism (OP)	0.32
   Binance	Optimism (OP)	0.32
   BTSE	Optimism (OP)	0.32
   OKX	Optimism (OP)	0.72

   See all 45 prices

2. 2. Choose a Optimism Wallet

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

3. 3. Delegate Your OP

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