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) 0.98
PrimeXBT Cardano (ADA) 0.98
M2 Cardano (ADA) 0.98
Uphold Cardano (ADA) 0.98
OKX Cardano (ADA) 0.98
YouHodler Cardano (ADA) 0.98
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
Bitget Cardano (ADA) Up to 2.5 APY
Binance Cardano (ADA) Up to 2.19 APY
Bitmart Cardano (ADA) Up to 1 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)	0.98
PrimeXBT	Cardano (ADA)	0.98
M2	Cardano (ADA)	0.98
Uphold	Cardano (ADA)	0.98
OKX	Cardano (ADA)	0.98
YouHodler	Cardano (ADA)	0.98

Platform	Coin	Staking rewards
Uphold	Cardano (ADA)	Up to 1.8 APY
YouHodler	Cardano (ADA)	Up to 7 APY
Bitget	Cardano (ADA)	Up to 2.5 APY
Binance	Cardano (ADA)	Up to 2.19 APY
Bitmart	Cardano (ADA)	Up to 1 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 $4 with a 24-hour trading volume of $2.52B. The market cap of Cardano stands at $35.14B, with $35.85B ADA in circulation. For those looking to buy or trade Cardano, Uphold offers avenues to do so securely and efficiently}

Market cap: $35.14B
24h volume: $2.52B
Circulating supply: $35.85B

See latest information

Frequently Asked Questions About Staking Cardano (ADA)

What are Cardano staking rewards?: Cardano staking rewards are incentives for ADA holders who delegate their ADA to a stake pool, helping secure the network. Rewards are distributed periodically based on the stake pool's performance. Stay informed on rates and performance by using tools on Bitcompare, a trusted platform for real-time price comparisons and crypto news.
How often are staking rewards paid?: Staking rewards on Cardano are typically paid every five days, known as an epoch. The amount depends on the stake pool's performance and total ADA staked. Utilize Bitcompare for tools like price alerts and sentiment analysis to stay updated on your staking outcomes.
What influences the amount of staking rewards?: Rewards depend on factors such as the total ADA staked to a pool and its performance. Efficient pools with low fees generally yield better rewards. Use Bitcompare's real-time tools to track performance, ensuring you can make informed choices about staking.
Is it possible to lose ADA when staking?: No, you do not lose ADA when staking, as your funds remain in your wallet, available anytime. Rewards are earned based on the stake pool's performance. Keep updated using Bitcompare tools like price alerts to understand the market dynamics better.
Are staking rewards considered taxable income?: Taxation of staking rewards depends on your local regulations. It is recommended to consult with a tax professional. Use Bitcompare to stay informed on the latest Cardano news and updates that might affect your situation.
How do I choose a stake pool?: Select a pool based on performance, fees, and reliability. Low saturation pools often yield higher rewards. Use Bitcompare for real-time performance metrics and to stay informed on pool performance trends, assisting you in choosing the best option.
Can I unstake ADA whenever I wish?: Yes, you can unstake ADA at any time without penalties, as your ADA never leaves your wallet. Keep track of the latest Cardano network updates and staking strategies using Bitcompare's comprehensive tools and news platform.