kraken how to stake

To stake assets on Kraken, users must hold eligible crypto assets in their accounts, such as Ethereum (ETH), Polkadot (DOT), Cosmos (ATOM), or Kava (KAVA).

Oct 27, 2024 at 12:24 am

Guide to Staking on Kraken

1. Eligibility

To stake on Kraken, users must hold supported crypto assets in their accounts. Currently, the following assets are eligible:

• Ethereum (ETH)
• Polkadot (DOT)
• Cosmos (ATOM)
• Kava (KAVA)

2. Choosing a Staking Pool

Kraken offers a selection of staking pools with varying APYs and fees. Users can choose a pool based on their risk tolerance and desired returns.

3. Staking Assets

To stake assets, users can:

• Transfer eligible assets to their Kraken account.
• Purchase assets directly on Kraken.
• Swap existing assets for eligible coins through Kraken's convert feature.

4. Creating a Staking Order

Once assets are available, users can initiate a staking order by following these steps:

• Log into their Kraken account.
• Navigate to the 'Staking' section.
• Select the desired asset.
• Choose a staking pool and enter the amount of assets to stake.
• Review the order details and confirm.

5. Benefits of Staking

Staking on Kraken offers several benefits:

• Earn Passive Income: Users earn rewards in the form of cryptocurrency interest for holding and validating transactions.
• Support Blockchain Networks: Stakers help secure the underlying blockchain networks, contributing to their stability and efficiency.
• Avoid Market Volatility: Staked assets are not subject to market fluctuations, providing potential returns even during downturns.

6. Withdrawing Staked Assets

Staked assets cannot be withdrawn immediately. Users must initiate an unstaking process, which takes a specific period depending on the asset:

• Ethereum (ETH): 28 days
• Polkadot (DOT): 28 days
• Cosmos (ATOM): 21 days
• Kava (KAVA): 7 days