How to Stake ICON (ICX) in Atomic Mobile Wallet: A Detailed Guide
The Icon Foundation has set itself the goal of combining cryptocurrencies with traditional finance, offering fast and secure payments for insurance companies, healthcare providers, financial institutions and many other organizations. Users, in turn, can become part of this movement by supporting validators and delegating their tokens to them and receiving income.
Atomic Wallet developers have presented a convenient mobile multi-currency platform for storing, transferring and staking cryptocurrencies. Also, users can buy and sell cryptocurrencies right in the wallet. Atomic Wallet is also available for desktop and web. If you prefer to use the Atomic Wallet to stake ICX tokens, then read our other guide.
How to Stake ICX in mobile Atomic Wallet
First download the Atomic Wallet app for your device. The wallet is available on iOS and Android platforms.
Launch the app and follow step-by-step instructions to stake ICX tokens.
Create a new wallet
There are two ways to open an Atomic Wallet:
- Create a new multi-currency wallet;
- Import an existing one.
If you do not have a wallet to import, click “Create new wallet”.
Set a strong password
The more complex the password used to enter the crypto wallet, the better. Do not use simple combinations of symbols to prevent the hacks. Examples of a good password are Sr $ 5xVC8 & x3rTz9) or F1 @ dFG5xC ^ 6 * vVf. A good password consists of a variety of letters, numbers, and special characters, and contains at least 12 characters. Then press “Set” and enter the password again to confirm it.
Write down and save the seed-phrase
At the next stage, Atomic Wallet will offer to create a backup copy, which is a mnemonic password of 12 random words, with which users can restore the wallet on other devices if something happens.
You can copy the seed phrase or scan the QR code to save it. This is convenient but not secure. It is best to record and store your mnemonic password on non-digital devices: paper, seed storage device, or other suitable medium. After you wrote down the seed phrase, click “Start using Atomic”.
We have created a wallet and now we can use it: store, exchange, stake, send and receive cryptocurrency using the application. Let’s top it up to stake ICON tokens.
Top up the wallet
On the main page of the wallet in the “Wallet” section, select the required cryptocurrency or start typing its name in the search field.
Select the cryptocurrency and click on it. In the section that opens, you can send and receive ICX tokens. Click “Receive” to open the wallet address.
There are three ways to get in touch with the sender or the exchange in order to receive tokens:
- By sending a QR code;
- By copying the ICX address;
- By sharing the wallet details through available channels such as email, social networks or instant messengers.
Note. Everstake has developed a user-friendly bot that monitors staking addresses. The bot sends notifications when a transaction is effected using the wallet, for example, when the user sends funds, stakes a token or receives a reward.
Read our instruction in which we explain how to use a Telegram bot and add a wallet address to receive notifications.
After the cryptocurrency has arrived to the crypto wallet, click the “Staking” button located on the home screen of the Atomic Wallet application.
Select ICX from the token list. If the cryptocurrency ICON is not displayed on the screen, scroll through the list or enter the name of the token in the search field.
The section that opens will display your staking statistics: how many tokens have been staked, how many rewards have been awarded, and the number of available votes. Click “Stake” to continue.
Now enter the amount of tokens to be delegated and select a validator. To open the list of validators, click on the block highlighted in the screenshot below. By default, Atomic Wallet offers its own validator.
Find and select a validator from the list, for example Everstake. To quickly find a validator, use the search and start typing its name.
After that click “Stake ICX”. If you decide to stake all tokens at once, use the “Stake All” button.
Enter your wallet password to confirm the transaction.
If the transaction was successful, the following message will appear:
Congratulations! You have successfully staked ICX, and the bot will send a message that the tokens have been staked. Also, you will receive notifications every time rewards are credited.
Everything is simple. Now, in the staking section, you will see statistics; here you can claim a reward and stake tokens. The unstaking period depends on the number of staked tokens in the ICON network.
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