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Algorand Staking: How to Stake Algorand in Seconds!Share on LinkedinDownload

Algorand Staking: How to Stake Algorand in Seconds!

Press a few buttons and wake up to passive income everyday. That’s everybody’s dream!

Thanks to crypto, this is now a reality for many people.

Staking allows crypto users to earn passive income for confirming crypto network transactions.

While there are many cryptos that offer staking, Algorand (ALGO) is one of the most popular ones, perhaps because its creator is famous MIT computer scientist Silvio Micali. Micali is a Turing award winner (the Turing Award is the highest award you can get as a computer scientist).

In this Algorand staking guide, we’ll tell you how to stake Algorand in seconds so you can earn ALGO fast!

And if you want to know more about ALGO, watch our What is Algorand YouTube video below. Otherwise, read on!

In this article

    Algorand Staking Guide: Start Staking Right Away

    Want a video guide? We've made one, which you can watch below. Otherwise, keep reading!

    If you use Algorand and Algorand-based assets only, the official wallet from Algorand (available for Android and iOS) is a great option to earn ALGO staking rewards. If you have more than 1 ALGO in your wallet, you’ll automatically start earning rewards.

    If you want a wallet with more features, the Exodus Algorand staking wallet might be a better option. It includes features like:

    • Support for 100+ crypto assets
    • Focus on premium design and ease of use
    • Giving you the ability to exchange cryptos (even your ALGO rewards) for other cryptos right from your wallet - without creating an account!
    • Support for the best decentralized applications like Compound Finance
    • Allowing you to stake some of the hottest cryptos for passive crypto income
    • The ability to sync your wallet between desktop and mobile
    • and 24/7, fast human support if you ever need help

    Download Exodus Algorand wallet here

    If you choose to use Exodus for Algorand staking, the process is very simple to start earning ALGO:

    1. Download Exodus

    2. Enable ALGO in your settings

    3. Send ALGO to your Exodus wallet. Or if you don’t have any ALGO, you can always exchange other assets like Bitcoin or Ethereum for ALGO right from your wallet (mobile guide)!

    4. Check your wallet from time to time to claim your free ALGO

    algorand staking - claiming ALGO rewards on Exodus mobile
    Claiming Algorand staking rewards on Exodus Mobile. All it takes is a few taps 😀

    … And that’s it! We told you it would take seconds! If you still need help, check our ALGO FAQ or reach out to our 24/7 support team.


    Algorand Staking Rewards Calculator

    Before jumping into ALGO staking, you might want to estimate how much staking rewards you’ll receive. This Algorand staking rewards calculator will give you a rough estimate of how much you can expect to earn staking ALGO.


    Algorand Staking Program

    Heard about the Algorand staking program? This offered 200 million ALGO in rewards to the ALGO community with a minimum 100% return!

    Unfortunately though, registration ended on August 31st, 2019. If you want to read details about the program anyway, here’s the link.


    Conclusion

    Along with Algorand, there are many staking-based networks that have promising potential. For example, Ethereum, the most popular blockchain platform for decentralized applications, is transitioning to a proof of stake model.

    While it isn’t certain which blockchain platform will be the most popular, or if there will be multiple platforms that people use regularly, Algorand is a solid contender. USD Coin (USDC), a stablecoin that mirrors the value of the US dollar, announced that it is going to use Algorand in addition to Ethereum.

    Since USDC is one of the biggest stablecoins and even used for tax payments in Bermuda, this definitely is good news for the Algorand project.

    Hopefully, more good news surfaces for Algorand. For now, participate in Algorand staking if you want to benefit from Algorand’s rising popularity!

    Information provided is for informational purposes only and should not be considered financial advice. Investing in crypto assets is speculative and carries a high degree of risk; you may lose some or all of the money that is invested. Past performance is not indicative of future results.

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