How to stake Cosmos (ATOM) via the Exodus desktop wallet: a beginner’s guide
Cosmos Network is a scalable and interoperable blockchain platform that creates a decentralized ecosystem that combines different blockchains. Cosmos Hub is a core chain of the ecosystem which supports staking its primary token ATOM by running the node or delegating tokens to validators. In the current guide, we will tell you how to stake ATOMs in the Exodus desktop wallet.
How to create a wallet
Exodus is a simple and convenient multicurrency wallet that supports more than 115 different crypto assets. The wallet has the functions of a built-in exchange and application (dApps). Download the wallet program from the official Exodus website and run the installation wizard. The program will be installed automatically within a minute after launch. There is also a mobile version of the crypto wallet for iOS and Android.
Now run the wallet file on your desktop. Your wallet will already be created — you don’t need to do anything. On the main screen, you can track detailed statistics on your assets.
We recommend that you immediately make a backup copy of your wallet so that you can restore your wallet in case of file system damage, loss or theft of your PC, or other troubles. If you want to skip this step, for now, go straight to the “How to top up the wallet” section.
1. To create a backup, go to the “Settings” section and select the “Backup” tab. Then create and enter a complex password, then click “Next”. Confirm the password you entered.
2. Write down a seed phrase consisting of 12 words while maintaining the sequence. For security reasons, the Exodus wallet displays words individually only when you hover the cursor over them.
3. Now confirm that you have correctly recorded the phrase of recovery, following the instructions of the wallet.
4. Backup is complete. Write down on paper your seed phrase and keep it safe.
Now you can add Cosmos tokens to your wallet.
Before getting started, please learn our cryptosecurity guide to keep your assets safe:
Crypto Security Guide: How Not To Lose Your Funds When Using Cryptocurrency
How to top up the wallet
Go to the main page of your wallet and select the “Wallet” tab. Use the search bar at the upper side of the screen to find the desired cryptocurrency and scroll through the list manually.
To add funds to your wallet, click the “Receive” button, then copy the address or scan the QR code through the app of another wallet. After the coins are credited to the balance, they will be displayed in the wallet and you can proceed to staking.
How to stake Cosmos (ATOM)
Enter the “Wallet” section and tap on “Earn Rewards” icon at the up-left corner
This opens a panel that you can use to stake ATOM. Enter the amount of coins you want to stake manually, or just click the “All “ button to select the maximum number of coins available. Then click “Stake ATOM”. Network fee for transaction will be displayed just under the stake button.
At the next stage, Exodus will warn you that the ATOM unstaking period takes 21 days from the date of delegation and that ATOM can’t be transferred while staked. If you want to continue, click “Ok” and wait for the transaction to be confirmed. Otherwise, click “Cancel”.
If everything is successful, Exodus will confirm that Cosmos staking is active. To Claim rewards or Unstake your ATOM select a respective button on the up-side bar. To stake more ATOM tap Earn ATOM.
As soon as you receive a reward, it will appear in the “Available Rewards” line at the bottom of the screen, and you will be able to claim it immediately.
How to monitor your ATOM staking via Everstake’s website
Everstake has created a convenient tool that allows you to monitor all your staking transactions on your address, including staking ATOM, unstaking and rewards, and visualizing it in charts. Also it is possible to add several addresses to check out all of them. All you need to do is sign in to the everstake.one
Select Cosmos, type your address and click Add
That’s it! Now you have all your staking data under your fingertips! Tapping Balance on the left side menu you will get all general information about your staking balance along with the chart
To find a detailed report about your ATOM staking transactions follow Cosmos page and discover your Cosmos stats, lists of delegation history and rewards history, including all essential data, sorted by added addresses.
With these reports you’ll get the whole picture of ATOM delegations immediately! And you don’t need to switch between different wallets and validators which you stake with.
Everstake validator wishes you hassle-free and profitable staking! To find more ATOM staking guides, follow the respective links at the Everstake’s Cosmos page in the Delegating step-by-step section.
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