How to Stake Cardano (ADA): A Step-by-Step Guide

Introduction

Staking Cardano can be a great option for those who want to hold ADA but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. Obtain Cardano (ADA) Tokens
In order to stake Cardano, you need to have it. To obtain Cardano, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Nexo Cardano (ADA) 1
PrimeXBT Cardano (ADA) 1
M2 Cardano (ADA) 1
Uphold Cardano (ADA) 1
Klink Cardano (ADA) 1
OKX Cardano (ADA) 1
See all 37 prices
2. Choose a Cardano Wallet
Once you have ADA, you’ll need to choose a Cardano wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Uphold Cardano (ADA) Up to 1,8 APY
YouHodler Cardano (ADA) Up to 7 APY
Atomic Wallet Cardano (ADA) Up to 5 APY
Bake Cardano (ADA) Up to 2,5 APY
See all 16 staking rewards
3. Delegate Your ADA
We recommend using a staking pool when staking ADA. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their ADA, 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 Cardano network. You’ll be rewarded with ADA for these validations.

Platform	Coin	Price
Nexo	Cardano (ADA)	1
PrimeXBT	Cardano (ADA)	1
M2	Cardano (ADA)	1
Uphold	Cardano (ADA)	1
Klink	Cardano (ADA)	1
OKX	Cardano (ADA)	1

Platform	Coin	Staking rewards
Uphold	Cardano (ADA)	Up to 1,8 APY
YouHodler	Cardano (ADA)	Up to 7 APY
Atomic Wallet	Cardano (ADA)	Up to 5 APY
Bake	Cardano (ADA)	Up to 2,5 APY

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

Cardano (ADA) is currently priced at US$1 with a 24-hour trading volume of US$2.42B. The market cap of Cardano stands at US$35.87B, with US$35.85B ADA in circulation. For those looking to buy or trade Cardano, Uphold offers avenues to do so securely and efficiently}

Market cap: US$35.87B
24h volume: US$2.42B
Circulating supply: US$35.85B

See latest information

Frequently Asked Questions About Staking Cardano (ADA)

What are staking rewards in Cardano?: Staking rewards in Cardano are incentives given to users who participate in maintaining network security by delegating ADA to a stake pool. These rewards depend on the amount staked and the pool's performance. Stay informed using Bitcompare for the latest updates and comparisons.
How often are Cardano staking rewards distributed?: Cardano staking rewards are distributed at the end of each epoch, approximately every 5 days. Keep track of these updates and reward rates through Bitcompare's tools and stay informed about the Cardano network.
What factors affect the amount of staking rewards I receive?: Factors like the total ADA staked, your stake pool's performance, and its fees affect your staking rewards. Consult Bitcompare for insights, price comparisons, and pool performance to make informed decisions.
Is there a minimum amount of ADA required for staking?: There's no minimum amount of ADA required to participate in staking, but some pools may have a minimum to cover transaction costs. Use Bitcompare to find suitable pools and stay updated on staking requirements.
Are Cardano staking rewards taxable?: Tax regulations on staking rewards vary by country. It's essential to consult with a tax advisor. Use Bitcompare to keep abreast of the latest news and regulations that may affect your staking rewards.
How can I ensure maximum staking rewards?: To maximize staking rewards, choose a reputable and high-performing stake pool. Bitcompare offers tools for evaluating pools, tracking their performance, and keeping you updated on Cardano trends.
Can I lose my ADA while staking?: Staking in Cardano is safe, and your ADA remains in your wallet. It cannot be lost due to staking. However, stay informed with Bitcompare's tools for security updates and to ensure safe staking practices.
What are the risks involved with Cardano staking?: The primary risk is choosing an underperforming pool that yields low rewards. Use Bitcompare for research on pool performance and set alerts to stay informed about potential risks or changes in staking.