How to Stake Internet Computer (ICP): A Step-by-Step Guide

Introduction

Staking Internet Computer can be a great choice for those who want to hold ICP 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. Get Internet Computer (ICP) Tokens

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

Platform	Loonies	Price
PrimeXBT	Internet Computer (ICP)	5.28
Uphold	Internet Computer (ICP)	5.29
YouHodler	Internet Computer (ICP)	5.3
Kraken	Internet Computer (ICP)	5.28
OKX	Internet Computer (ICP)	5.3
Binance	Internet Computer (ICP)	5.29

See all 53 prices

2. Select a Internet Computer Wallet
Once you have ICP, you’ll need to choose a Internet Computer wallet to store your tokens. Here are some good options.
Platform Loonies Staking rewards
Binance Internet Computer (ICP) Up to 4.9 annual percentage yield
Bitmart Internet Computer (ICP) Up to 1 annual percentage yield
See all 4 staking rewards
3. Delegate Your ICP
We recommend using a staking pool when staking ICP. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their ICP, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
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 Internet Computer network. You'll be rewarded with ICP for these validations.

Platform	Loonies	Staking rewards
Binance	Internet Computer (ICP)	Up to 4.9 annual percentage yield
Bitmart	Internet Computer (ICP)	Up to 1 annual percentage yield

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.

Latest Movements

Internet Computer (ICP) is currently priced at US$4.9 with a 24-hour trading volume of US$219.57M. The market cap of Internet Computer is currently at US$4.94B, with 479.09M ICP in circulation. For those interested in buying or trading Internet Computer, Binance offers ways to do so securely and efficiently

Market capitalization: US$4.94B
24h volume: US$219.57M
Circulating supply: 479.09M ICP

See latest information

Frequently Asked Questions About Staking Internet Computer (ICP)}

What is Internet Computer (ICP) and what are its main features?: Internet Computer (ICP) is a decentralized computing platform created by the DFINITY Foundation that aims to extend the functionality of the internet by enabling developers to build secure, scalable applications without relying on traditional cloud infrastructure. Key features include its unique canister smart contracts, fast transaction speeds facilitated by Chain Key Technology, and a decentralized governance model through the Network Nervous System (NNS), which allows ICP token holders to participate in decision-making.
How does Internet Computer (ICP) improve the developer experience?: Internet Computer (ICP) enhances the developer experience by providing a robust environment for building applications without the need for traditional server infrastructure. It supports multiple programming languages, including Motoko and Rust, making it accessible to a wide range of developers. The platform's canister smart contracts simplify resource management, while its decentralized architecture allows for seamless deployment and scaling of applications. Additionally, real-time performance monitoring and integration tools further streamline the development process.
What are the different types of applications that can be built on the Internet Computer (ICP)?: Internet Computer (ICP) supports a wide range of applications, including decentralized finance (DeFi) platforms, social media networks, gaming applications, and enterprise software solutions. Its unique architecture allows developers to create dApps that run directly on the internet, facilitating seamless user interactions without intermediaries. Additionally, ICP enables the development of complex systems such as tokenized assets and NFTs, providing versatile options for creators and businesses looking to leverage blockchain technology effectively.
How does the Internet Computer (ICP) ensure data security and privacy?: Internet Computer (ICP) ensures data security and privacy through a decentralized network of independent data centers and robust encryption protocols. By utilizing canister smart contracts, user data is stored securely and processed without central control. The platform's consensus mechanism prevents unauthorized access and tampering, while transparency in governance allows users to retain ownership of their data. Additionally, the decentralized nature minimizes risks associated with data breaches, enhancing user trust and privacy.
What role do ICP tokens play in the Internet Computer ecosystem?: ICP tokens serve multiple critical functions within the Internet Computer ecosystem. They are primarily used for governance, allowing token holders to propose and vote on changes to the network through the Network Nervous System (NNS). Additionally, ICP tokens can be converted into cycles, which are the computational resources needed to operate applications on the platform. This dual role not only empowers users to shape the platform's future but also facilitates the efficient execution of decentralized applications.