Staking ATOM in Cosmos: A Step-by-Step Tutorial Using Keplr Wallet
Learn step-by-step how to stake ATOM in Cosmos using Keplr Dashboard, help secure the the Cosmos Hub blockchain and earn reward.
Staking ATOM in Cosmos using the Keplr Dashboard is a simple and rewarding process that allows you to actively participate in the network and earn rewards. In this tutorial, we will guide you through the steps to delegate your ATOM tokens and start staking in the Cosmos ecosystem. By staking, you contribute to the security and stability of the network while receiving incentives for your participation. Let’s get started!
Step-by-Step Tutorial:
1. Create a Keplr Wallet Dashboard:
To begin, create a Keplr wallet by following the instructions in this guide:
Once you have created your wallet, add the Keplr extension to your browser.
2. Log in to Your Account:
Open your Keplr wallet extension and log in to your account. Connect your wallet. Visit https://wallet.keplr.app/#/secret/stake to access the full dashboard.
3. Stake Your ATOMs:
If you don’t have any ATOMs in your account, you need to fund it with some tokens. You can transfer ATOM tokens from an exchange to your wallet address or receive them from someone who already holds them. In the top Menu select “Staking”.
4. Choose a Validator to Delegate ATOM:
To stake your ATOM tokens, click on the “Cosmos” network in the right panel and then click on “Stake.”
- On the bottom in the Dashboard, you will see a list of validators available for staking and a explorer, type “DragonStake”. When locate “DragonStake,” then click on the button.
A new window with of DragonStake validator will appear. Click once on “Delegate”. to enter the amount of tokens you want to stake. Click “Delegate” again to proceed.
Enter the amount of tokens you want to stake. Click “Delegate” again to proceed. You will be redirected to the Keplr wallet for approval. Confirm the transaction to delegate your ATOM tokens to DragonStake. After the transaction is confirmed, you will be able to see your stake.
5. Monitor and Manage Your Staking:
Once you have completed the delegation process, your staking will start generating rewards, which will accumulate automatically. You can monitor your rewards and manage your staking at the top of the Keplr Wallet web page as long as your wallet is connected.
6. Claiming Rewards:
Over time, you will see your rewards accumulating in your account. To claim your rewards, open the Keplr extension and click on “Claim.” You will need to approve the transaction to transfer the rewards from the platform to your wallet. After claiming the tokens, you can choose to delegate them again to continue earning more rewards.
From the same section, you can also decide whether to delegate your tokens to another validator, which does not require an unbonding period, or to withdraw your tokens from staking, initiating a 21-day waiting period.
What You Need to Know Before Staking Cosmos:
While your tokens are staked, they remain in your custody but are locked.
Staking does not automatically compound your rewards. To maximize your profits, you can claim the rewards and re-delegate them manually.
There is a 21-day unbonding process for staked ATOM tokens, during which they do not earn rewards and cannot be transferred, exchanged, or spent. However, they can still be subject to slashing during the unbonding period.
There is no minimum requirement for staking on ATOM.
By following this tutorial, you can confidently stake your ATOM tokens in Cosmos using the Keplr wallet and actively contribute to the network while earning rewards.
