How to Stake Kusama (KSM): A Step-by-Step Guide

Introduction

Staking Kusama can be a great option for those who want to hold KSM 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 Kusama (KSM) Tokens
In order to stake Kusama, you need to have it. To obtain Kusama, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Nexo Kusama (KSM) 34.21
Uphold Kusama (KSM) 34.07
Kraken Kusama (KSM) 34.11
OKX Kusama (KSM) 34.17
Binance Kusama (KSM) 34.13
BTSE Kusama (KSM) 34.12
See all 25 prices
2. Choose a Kusama Wallet
Once you have KSM, you’ll need to choose a Kusama wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Uphold Kusama (KSM) Up to 9.5 APY
Binance Kusama (KSM) Up to 12.9 APY
Ledger Kusama (KSM) Up to 13 APY
See all 9 staking rewards
3. Delegate Your KSM
We recommend using a staking pool when staking KSM. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their KSM, 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 Kusama network. You’ll be rewarded with KSM for these validations.

Platform	Coin	Price
Nexo	Kusama (KSM)	34.21
Uphold	Kusama (KSM)	34.07
Kraken	Kusama (KSM)	34.11
OKX	Kusama (KSM)	34.17
Binance	Kusama (KSM)	34.13
BTSE	Kusama (KSM)	34.12

Platform	Coin	Staking rewards
Uphold	Kusama (KSM)	Up to 9.5 APY
Binance	Kusama (KSM)	Up to 12.9 APY
Ledger	Kusama (KSM)	Up to 13 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

Kusama (KSM) is currently priced at $10 with a 24-hour trading volume of $31.92M. The market cap of Kusama stands at $542.66M, with $15.9M KSM in circulation. For those looking to buy or trade Kusama, Uphold offers avenues to do so securely and efficiently}

Market cap: $542.66M
24h volume: $31.92M
Circulating supply: $15.9M

See latest information

Frequently Asked Questions About Staking Kusama (KSM)

What are Kusama (KSM) staking rewards?: KSM staking rewards are incentives for users who participate in the Kusama network by staking their tokens to secure the network. These rewards are usually paid in KSM tokens and vary based on network conditions.
How can I calculate my potential rewards for staking KSM?: You can estimate your KSM staking rewards using tools available on platforms like Bitcompare. These tools provide real-time data on rates, allowing you to make informed decisions.
What factors influence Kusama staking rewards?: Factors include the total amount of KSM staked, current network conditions, and staking duration. Stay informed through tools on Bitcompare to understand the dynamic nature of rewards.
How often are KSM staking rewards distributed?: KSM staking rewards are typically distributed every 24 hours. However, the exact frequency can vary. Regularly check platforms like Bitcompare for the latest updates on reward distribution.
Are there any risks associated with staking KSM?: While staking KSM helps secure the network, it also involves some risks, including slashing. Staying informed and using tools on Bitcompare can help you assess these risks effectively.
Can staking rewards change over time?: Yes, staking rewards for KSM can change due to network conditions and staking volumes. It's crucial to keep updated via reliable sources like Bitcompare for real-time adjustments.