How to stake ATOM?
Why just hold your ATOM on your balance when you can earn passive income off of your crypto savings? By delegating your coins to a validator of your choice, you express your trust in them. That makes them more powerful in confirming various transactions on the COSMOS blockchain. As validators get paid for approving transactions, they in turn payback to those who voted for them and helped them gain trust. Now, that’s how you earn your rewards. In this guide, you’ll learn how to stake your ATOM with Atomic Wallet.
- ATOM 101: the things you need to know
- How to stake your ATOM via our desktop app
- How to stake your ATOM via our mobile app
- ATOM staking rewards
- How to unstake your ATOM
- When will the 21 day waiting period be over?
ATOM 101: the things you need to know before staking your coins
- You’ll have to pay a network fee every time you want to stake, claim some rewards, or unstake your ATOM. That's why we strongly recommend against staking all your funds. Make sure to leave some small ATOM amount (that is, at least 0.005) on your available balance, so that you can pay the fees. Otherwise, you won’t be able to either claim your rewards or unstake your coins. The fees are charged by the COSMOS blockchain directly. If you're interested in learning more about how they work, make sure to check out our guide on that.
- Your ATOM deposit will be frozen throughout the staking period. Your ATOM will be delegated to a staking pool, which means that these coins won’t be counted towards your total balance. Also, you won’t be able to transfer or exchange them.
- Unstaking takes 21 full days. Once you hit the Unstake button, your deposit will be frozen for 21 more days. After the unstaking period is over, your coins will be deposited to your address. Your ATOM won’t be earning any interest over the waiting period.
- Beware of the risks. The main caveat to ATOM staking is the ‘Hard Slashing’ model used by the COSMOS blockchain. If the validator goes down, gets hacked, or turns out to be guilty of fraud, the entire staking fund gets slashed. For you, that means a risk of losing all your staked coins. We take great care to only offer trusted & highly reliable ATOM validators for staking in Atomic Wallet, so your funds are safe by us. Still, it's important to keep the risk in mind.
How to stake your ATOM via our desktop app
- Navigate to the Staking tab on the left sidebar and pick Cosmos from the coin list.
- Hit the Stake button to proceed.
Important: you'll need to leave a tiny part of your ATOM unstaked on your address to be able to claim your rewards.
- Browse through the list of available validators and pick the one you want to trust your ATOM with. Once you make the decision, hit the Stake button.
Before proceeding, please note that there's no way to cancel the staking transaction, and unstaking takes 21 full days in case of ATOM. That's the way the blockchain itself operates, which means we won't be able to speed the process up for you.
- Success! Your ATOM deposit is now staked, so relax and wait for your first rewards to arrive. You can click on the hash of your staking transaction to track it on the block explorer.
How to stake your ATOM via our mobile app
- Navigate to the Staking tab in the bottom panel and pick ATOM from the assets list.
- Tap the Stake button.
- Set the amount of ATOM you want to stake and decide which validator you want to trust your coins with. Tap the Stake button to proceed.
- Take note of the waiting period disclaimer before tapping the Confirm button.
- Voila, your ATOM deposit is now staked! Relax and wait for your first rewards to arrive.
You'll need to claim your ATOM staking rewards manually. Since caiming is a regular transaction on the blockchain, the Cosmos blockchain will charge you a network fee for it every time. The fee will be taken from your available balance, not the staking deposit.
Hit the Claim button to claim your rewards. The button will get highlighted once there're any rewards available.
How to unstake your ATOM
Hit the Unstake button to initiate unstaking.
When will the 21 day waiting period be over?
If you're growing impatient wondering when your ATOM will be done unbonding, you can just check how much time has passed since the day you decided to unstake your deposit. Here's how to do that:
- Go to the Wallet tab and pick ATOM from the coin list. Hit the Receive button and copy your ATOM address.
- Use the address to check up on your account on the block explorer here.
- Your ATOM should be displayed under Unbonding in the dashboard.
Scroll down to see your transaction history and browse through it to find the most recent transaction of the Undelegate type. Once the counter on the right hits 21, your ATOM will automatically get deposited to your address.
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