Or click this link to head directly to the ATOM staking page.
It accomplishes this through the use of ‘r-tokens’ which are derivatives of staked assets that remain liquid. StaFi is different from other cryptocurrency staking platforms in that it allows users to maintain the liquidity of their tokens even while staked - irrespective of the lock-up or enforced staking period many blockchains use. See this official guide for instructions on installing apps on the Ledger Nano S/X. Here, click the ‘Earn Rewards’ button and click ‘Continue’ after reading the information pop-up.Ĭonsiderations: You will need to have the Cosmos (ATOM) app installed to use the ATOM staking feature.
Ensure that the latest version of the Cosmos (ATOM) app is installed on your device.Connect your Ledger wallet to Ledger Live and unlock the device with your PIN.But while they are among the most secure wallets for staking ATOM, they can also be one of the most time-consuming - particularly if you are unfamiliar with using hardware wallets. The Ledger Nano S and X hardware wallets are by far the most popular options due to the wide variety of features they offer and their accessible price points. While early hardware wallets were relatively basic cold storage devices, most popular hardware wallets now operate alongside a dedicated application, which can be used for executing transactions, engaging with DeFi, and in many cases, staking.
Hardware wallets are popular among those with sizeable portfolios due to the security they provide to users. Here, we take a look at the six most popular platforms for staking ATOM. Most non-custodial platforms allow users to choose which validator they delegate to, whereas centralized exchanges usually offer their own validator. That said, since Cosmos uses hard slashing to deter fraud among validators, users could see their funds slashed if their chosen validator is found to be operating maliciously.īecause of this, it’s important to make sure you only delegate your ATOM to well-reputed and trustworthy validators to minimize your risk. Since ATOM delegation is a completely non-custodial process, it is largely considered safe (from a security standpoint) - validators cannot spend delegated funds. That said, some centralized staking platforms do offer liquid staking, which can allow users to bypass this limit (usually in return for lower rewards). This means the tokens cannot be moved, spent or used in any way during this period. It also allows users to delegate their stake to one of these nodes to earn a share of the token emission.īy default, there is a 21-day lockup period applied to any staked ATOM tokens. Offering around 10.3% nominal yields per year on average, the Cosmos token ( ATOM) provides some of the highest staking rewards for any proof-of-stake (POS) cryptocurrency.Īs a proof-of-stake blockchain, Cosmos allows validator nodes to participate in network consensus.
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