Developers seek to expand the range of products for token holders, providing them with various options for crypto wallets that would meet the individual needs of every user. In this guide, we will show you how to stake Tezos tokens (XTZ) using the Thanos web wallet.
The Thanos open source wallet is available as an extension for Google Chrome, Mozilla Firefox, Opera, Brave, and other browsers. The plugin is easy to install and use. You can install Thanos from the extension store or on the web wallet official website.
Thanos plugin installation
1. Go to the Chrome (or another browser) extension store or to the wallet site and click “Install”. In the first case, proceed immediately to the next step.
2. The website will redirect you to the desired extensions. Click “Install”. The browser will load the plugin and you can proceed to creating a wallet.
Creating a wallet
Click “Create a new Wallet” to create a new XTZ wallet.
2. Enter a new password, accept the user agreement, and click “Create”.
3. Convenient web wallet interface will open. It has only three functions: receive, send, and delegate. Now you need to save the seed phrase to restore access to XTZ tokens if you lose your password.
4. Click on the orange stripe at the bottom that says “Make sure to backup your seed phrase” and enter your wallet password in the window that opens. Then click “Reveal”.
5. Write down the seed phrase on paper or any other medium and save it in a safe place. Do not disclose your mnemonic password to anyone. Otherwise, your funds may be stolen. After you save the seed phrase, go back to your wallet.
How to top up your Thanos web wallet
1. Click the “Receive” button, then copy the address or take a screenshot of the QR code.
2. Send the XTZ address or QR code to the sender and wait for Tezos tokens to be credited to the wallet account.
3. The tokens have arrived. Now tokens can be staked
How to stake Tezos tokens (XTZ)
The Tezos cryptocurrency works on the DPoS principle. Therefore, in order to generate revenue, you must delegate coins to the validator — so called baker. To get XTZ tokens, scroll down the web wallet page a little and click the “Delegate now” button.
You can enter the validator’s address manually or select it from the list. We will show the process using the example of Everstake, which will be profitable and reliable. Why you should choose Everstake. Now select the validator and click “Delegate”.
Enter your Thanos wallet password to confirm the transaction. The transaction will be sent and will wait for confirmation. Usually it takes less than a minute.
After confirmation, the wallet will send a message that the delegation was successfully confirmed!
The validator will be displayed on the wallet main page. Rewards will be accrued automatically as soon as the first full staking cycle has passed. You can re-delegate tokens received from staking by clicking the “Re-delegate” button.
Why choose Everstake as a staking provider (baker)
Choosing a validator is an important step for a token holder. It is important to delegate XTZ tokens to a reliable staking provider that ensures stable operation of blockchain network nodes. Everstake is exactly such a validator. Staking is less profitable if the validator has connection failures and other problems. There are no such problems with Everstake, and the fee will be low — only 5%.
What delegators have to know
Baker’s name: Everstake
The fee during the promotional period: 5%
Promotional period duration: 3 months until September 1, or approximately 34 Tezos cycles
Basic fee after the end of the promotion: 8%
The first reward will be credited to your wallet within 38 days. Please note that you need to delegate tokens to the new Everstake Baker. This also applies to current delegators.
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