Founded in 2015 by Ethereum co-founder Charles Hoskinson, Cardano is a proof-of-stake (PoS) blockchain that is often referred to as the “Ethereum killer,” owing to its superior technology and high level of security and sustainability.
Much like Ethereum, Cardano also allows users to stake its native cryptocurrency, ADA, to earn staking rewards. Cardano allows individuals to stake via staking pool operators and pool their tokens with other users or run their own Cardano staking pool.
Find a reputable cryptocurrency exchange
Select the staking option
Research staking pools
Delegate your ADA tokens
How to stake Cardano on Coinbase (NASDAQ:COIN)
- Create an account on Coinbase.
- Select their desired Cardano staking pool and review the corresponding staking amount required.
- Buy Cardano on Coinbase or deposit the tokens from an external wallet into their Coinbase wallet.
- Add their ADA to their selected Cardano staking pool and approve the corresponding fees and minimum lock-up period.
- Wait for their Cardano staking rewards to arrive every five to seven days after the initial holding period of 20–25 days.
How to stake Cardano on Binance
- Create an account on Binance.
- Visit the Binance “Staking” homepage.
- Ensure that there are adequate funds in your Binance spot wallet.
- Choose ADA from the list of tokens listed on the page.
- Read and follow the prompts on the screen about first-time staking on the platform. Click “Next.”
- A “Stake Crypto” pop-up will appear. Enter the desired amount for staking or choose the percentage of total assets to be staked.
- To restake token rewards automatically, select “Auto Restake.” This will compound your staking rewards automatically. To have staking rewards deposited to your wallet, select “Disable Auto Restake.”
- Click “Preview Stake.” Review the details and click “Confirm.”
- The user will receive a “Staking Successful” confirmation in a pop-up window. To complete, click “Understood.”
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How to stake Cardano on eToro
How to stake Cardano on Yoroi
- Download the Yoroi plug-in from the Yoroi website.
- Enter payment information to be used when purchasing assets through Yoroi.
- Select between the platform’s hot wallet or cold wallet options.
- Follow recovery set-up prompts on the screen.
- Purchase ADA through Yoroi or transfer existing holdings to your Yoroi wallet.
- Select a Cardano staking pool and delegation icon.
- Add desired funds to the selected pool and review the corresponding fees.
- Confirm and start earning returns on ADA.