How to Stake Stellar (XLM) in Australia

Introduction

Staking Stellar can be a great option for those who want to hold XLM 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 Stellar (XLM) Tokens

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

   Platform	Coin	Cost
   Nexo	Stellar (XLM)	0.23
   PrimeXBT	Stellar (XLM)	0.23
   EarnPark	Stellar (XLM)	0.23
   YouHodler	Stellar (XLM)	0.23
   Binance	Stellar (XLM)	0.23
   Coinbase	Stellar (XLM)	0.23

   See all 70 prices

2. 2. Choose a Stellar Wallet

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

   Platform	Coin	Staking returns
   YouHodler	Stellar (XLM)	Up to 9% % p.a.

3. 3. Delegate Your XLM

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