Introduction

Staking Phala Network can be a great option for those who want to hold PHA 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 Phala Network (PHA) tokens

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

   Platform	Coin	Price
   Bitpanda	Phala Network (PHA)	$0.1044
   Uphold	Phala Network (PHA)	$0.1106
   Kraken	Phala Network (PHA)	$0.1033
   OKX	Phala Network (PHA)	$0.1037
   Binance	Phala Network (PHA)	$0.1043
   BingX	Phala Network (PHA)	$0.1038

   See all 9 prices

2. 2. Choose a Phala Network wallet

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

3. 3. Delegate your PHA

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