Where and how to stake Algorand (ALGO)

Introduction

Staking Algorand can be a great option for those who wish to hold ALGO while earning yield in a safe manner and contributing to the network. The steps can be somewhat daunting, especially the first time you do them. That’s why we have put together this guide for you.

Step-by-Step Guide

1. 1. Acquire Algorand (ALGO) Tokens

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

   Platform	Coin	Price
   Nexo	Algorand (ALGO)	0.15
   Bitpanda	Algorand (ALGO)	0.21
   Uphold	Algorand (ALGO)	0.21
   PrimeXBT	Algorand (ALGO)	0.21
   Kraken	Algorand (ALGO)	0.15
   OKX	Algorand (ALGO)	0.21

   See all 21 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	Coin	Staking rewards
   Bitmart	Algorand (ALGO)	Up to 0.50 APY
   Ledger	Algorand (ALGO)	Up to 10.02 APY

   See all 7 staking rewards

3. 3. Delegate Your ALGO

   We suggest using a staking pool for staking ALGO. It's easier and quicker to get started. A staking pool is a collection of validators who combine their ALGO, which increases their odds of validating transactions and earning rewards. You can do this through your wallet’s interface.

4. 4. Start Validating

   You'll have 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 Keep in Mind

You need to keep in mind the transaction and staking pool fees. Additionally, there might be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this can take a while.