Where & how to stake Komodo (KMD)

Introduction

Staking Komodo can be a great option for those who want to hold KMD 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

1. 1. Obtain Komodo (KMD) tokens

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

   Platform	Coin	Price
   Bitpanda	Komodo (KMD)	$0.2514
   Binance	Komodo (KMD)	$0.2478
   Kucoin	Komodo (KMD)	$0.2518

2. 2. Choose a Komodo wallet

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

   Platform	Coin	Staking rewards
   MyCointainer	Komodo (KMD)	Up to 0.01% APY
   Atomic Wallet	Komodo (KMD)	Up to 5.1% APY

3. 3. Delegate your KMD

   We recommend using a staking pool when staking KMD. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their KMD, 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 Komodo network. You’ll be rewarded with KMD 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.