Where and How to Stake Algorand (ALGO)

Introduction

Staking Algorand can be a great option for those who want to hold ALGO 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. 1. Obtain Algorand (ALGO) Tokens

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

   Platform	Coin	Price
   Nexo	Algorand (ALGO)	0.29
   Bitpanda	Algorand (ALGO)	0.29
   Uphold	Algorand (ALGO)	0.23
   PrimeXBT	Algorand (ALGO)	0.29
   Kraken	Algorand (ALGO)	0.15
   OKX	Algorand (ALGO)	0.29

   See all 21 prices

2. 2. Choose 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 0.5 APY
   Ledger	Algorand (ALGO)	Up to 10.02 APY

   See all 7 staking rewards

3. 3. Delegate Your ALGO

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