How to Stake THORChain (RUNE): A Comprehensive Guide for Australians

Introduction

Staking THORChain can be a great option for those who want to hold RUNE while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.

Step-by-Step Guide

1. Obtain THORChain (RUNE) Tokens
To stake THORChain, you need to own it. To obtain THORChain, you'll need to buy it. You can choose from these popular exchanges.
Platform Coin Cost
Nexo THORChain (RUNE) 0.55
PrimeXBT THORChain (RUNE) 0.55
Binance THORChain (RUNE) 0.55
Coinbase THORChain (RUNE) 5.44
Kraken THORChain (RUNE) 0.55
Uphold THORChain (RUNE) 1.17
See all 40 prices
2. Choose a THORChain Wallet
Once you have RUNE, you'll need to choose a THORChain wallet to store your tokens. Here are some great options.
3. Delegate Your RUNE
We recommend using a staking pool when staking RUNE. It's simpler and quicker to get started. A staking pool is a group of validators who combine their RUNE, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
4. Begin Validation
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 THORChain network. You'll be rewarded with RUNE for these validations.

Platform	Coin	Cost
Nexo	THORChain (RUNE)	0.55
PrimeXBT	THORChain (RUNE)	0.55
Binance	THORChain (RUNE)	0.55
Coinbase	THORChain (RUNE)	5.44
Kraken	THORChain (RUNE)	0.55
Uphold	THORChain (RUNE)	1.17

What to Be Aware Of

There are transaction and staking pool fees to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.