How do I stake NEAR?
Stake your NEAR with Atomic Wallet to receive interest on your deposit! In this article, we'll guide you through everything you need to know to stake your NEAR and earn rewards.
- NEAR 101: the things you need to know
- How to stake NEAR in your Atomic Wallet app
- NEAR staking rewards
- How to unstake your NEAR
Getting started with staking
Staking is a simple process — instead of just keeping your NEAR deposit on your balance, you're choosing to stake it and earn interest. Where does the interest come from, though?
By delegating your NEAR to a validator of your choice, you're expressing your trust in them, which makes them more powerful on the NEAR blockchain. As validators get paid for confirming blockchain transactions, they in turn pay back to those who supported them. That's how you earn your rewards! By staking your NEAR in Atomic Wallet, you're choosing us as your validator.
NEAR 101: things you need to know
- You’ll have to pay a network fee every time you want to stake or unstake your NEAR. That's why we strongly recommend against staking all your funds. Make sure to leave some small NEAR amount on your available balance so that you can pay the fees. Otherwise, you won’t be able to unstake your deposit later on. The fees are charged by the NEAR blockchain directly. Currently, the network fee is 0.0125 NEAR (0.065$) for one staking transaction. Keep in mind, that the network fee amount fluctuates slightly from block to block. If you're interested in learning more about how they work, see Does Atomic Wallet charge any additional transaction fees?
- Your deposit will be locked. Your NEAR deposit will be frozen throughout the staking period. This means your staked NEAR won’t be counted towards your available balance. Also, you won’t be able to transfer or swap them.
- Unstaking does not happen immediately. Unstaking takes 4 epochs (~52-65hrs) to complete. Once you hit the Unstake button, your deposit will be frozen for the unstaking period. More about it here.
- Staking rewards. You'll start earning your NEAR staking rewards in 48 hours after your deposit was staked. Your rewards are automatically added to your staked amount.
- ~ 0.1 NEAR will be reserved on your address for future fees for claiming/unstaking transactions when you stake. That means that these funds are still on your address and are available to send away or swap, but are not available for staking. It is done in order to avoid a situation in which you accidentally stake all of your funds and are unable to unstake your coins or claim your rewards.
How to stake NEAR in your Atomic Wallet app
- Click Staking on the left sidebar;
- Select NEAR;
- Click Stake;
- Decide on the amount to stake. You'll be charged a network fee by the NEAR blockchain for both staking and unstaking your deposit. The staking fee will automatically be deducted from the amount you're staking. We'd suggest you leave the same amount on your balance so that you can pay the fee once you decide to unstake your NEAR. The fee is ~ 0.0125 NEAR, but it fluctuates a little bit from block to block.
- Enter your password and click Confirm;
- Voilà, your NEAR deposit is now staked! Relax and wait for your first rewards to arrive.
- Select the Staking tab in the bottom panel;
- Tap NEAR;
Decide on the amount to stake. You'll be charged a network fee by the NEAR blockchain for both staking and unstaking your deposit. The staking fee will automatically be deducted from the amount you're staking. We recommend you leave the same amount on your balance so that you can pay the fee once you decide to unstake your NEAR. The fee is ~ 0.0125 NEAR, but it fluctuates a little bit from block to block.
Enter your password and tap Confirm;
Voilà, your NEAR deposit is now staked! Relax and wait for your first rewards to arrive.
NEAR staking rewards
You'll receive your first staking rewards in 48 hours after staking your deposit.
After that, your rewards will arrive once every epoch, that is, every 12 hours. There's no need to claim them, as they'll automatically be added to your staking deposit.
In order to calculate how much NEAR you're supposed to receive, use the following formula: N*0.11/52 where N is the amount you staked. 0.11 is the 11% APY and 52 is the amount of weeks in one year.
How to unstake your NEAR
- Select NEAR in the Staking tab.
- Select Unstake.
- Enter the amount you want to unstake and select Unstake. Please note that unstaking takes 4 epochs (~52-65hrs).
In several days, your NEAR will appear under Available for withdrawal. Just select Withdraw to have your coins deposited to your NEAR address.