Where and How to Stake Algorand (ALGO)

Introduction

Staking Algorand can be a great choice for those who want to hold ALGO but earn yield in a secure way while contributing to the network. The steps can be a little overwhelming, especially the first time you go through them. That’s why we’ve put this guide together for you.

Step-by-step Guide

1. 1. Get Algorand (ALGO) Tokens

   To stake Algorand, you need to have it. To obtain Algorand, you'll need to purchase it. You can choose from these popular exchanges.

   Platform	Loonies	Price
   Nexo	Algorand (ALGO)	0.22
   PrimeXBT	Algorand (ALGO)	0.22
   Uphold	Algorand (ALGO)	0.22
   OKX	Algorand (ALGO)	0.22
   M2	Algorand (ALGO)	0.22
   Binance	Algorand (ALGO)	0.22

   See all 52 prices

2. 2. Select a Algorand Wallet

   Once you have ALGO, you’ll need to choose a Algorand wallet to store your tokens. Here are some good options.

   Platform	Loonies	Staking rewards
   Binance	Algorand (ALGO)	Up to 1.5 annual percentage yield
   MyCointainer	Algorand (ALGO)	Up to 4.2 annual percentage yield

   See all 11 staking rewards

3. 3. Delegate Your ALGO

   We recommend using a staking pool when staking ALGO. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their ALGO, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.

4. 4. Start Validating

   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 Algorand network. You'll be rewarded with ALGO for these validations.

What to be Aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.