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How to stake Cardano (ADA) in 2024

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Cardano is a leading layer 1 blockchain whose native token is ADA.

On the Cardano blockchain, staking ADA helps to maintain a fair and fully functioning network. Via smart contracts, Cardano distributes rewards to stakers according to the network’s consensus rules.

With Cardano, staking pools are picked randomly to validate the next set of data. When that data is successfully validated, the network rewards all participants in the selected staking pool.

If you’d like to stake ADA, this can be done easily through a cryptocurrency exchange or brokerages such as Binance, Coinbase or eToro. Staking can also be achieved directly through non-custodial browser wallets associated with Cardano such as Daedalus and Yoroi. This page will take you through the various ways you can stake ADA.

Frequently Asked Questions

Is staking Cardano safe?

Staking comes with risks, especially if you use DeFi. When looking to stake your Cardano always reputable brokers that have been audited by the financial regulator of the country you’re based in. If you use a reputable broker, backed by insurance, that has a good track record, your tokens will be safer than if you stake on a new DeFi platform that’s just launched. As with staking any token, the risks of market volatility are always there, and it’s always best to stake in a bull market unless you plan on holding for many years.

How much Cardano do you earn staking?

The amount of Cardano that you can earn while staking will depend on the APY, how many delegators are in a pool and your delegated amount. On exchanges and brokerages, you can use a calculator to get an estimate of your Cardano rewards using their APY rate.

Do I need I.D. to stake?

You do not require I.D. to to stake on Cardano using a non-custodial wallet. If you want to stake on an exchange or brokerage you will need to provide some I.D. during your sign up process. This is known as KYC or know your customer and is a regulatory necessity now in many countries.

Which crypto wallets will allow me to stake on Cardano?

Daedalus and Yoroi are the most recommended non-custodial wallets to use on the Cardano network. You can visit their websites and download the wallet for free along with their apps. Once you’ve set up your wallet you can then send Cardano from an exchange or brokerage to your personal wallets and connect them to a staking pool on Cardano to start earning rewards after a few epochs.

Where will my staking rewards be sent to?

After you unstake your delegated tokens, your rewards and initial deposit will appear in your wallet or exchange portfolio within minutes, or even seconds.

Can staking rewards be compounded?

Staking rewards can be compounded by re-staking your earned rewards. Some staking platforms offer auto-compounding services that automatically do this—recommended if you want to take a hands-off approach and enjoy the best rewards.

Can you stake ADA using Ledger?

You can stake Cardano while it is stored in your Ledger wallet.

Where should I stake Cardano?

If you want more control over your staking options, more security and control of your funds, then staking using one of Cardano's recommended wallets is the best way to go. There are many different options to choose from when staking via a Cardano wallet compared to staking on an exchange or through a broker. Cardano provides tutorials on how to create and connect your wallet as well as how to choose a staking pool.If you want to stake on an exchange for the sake of simplicity, then simply buy Cardano and delegate it to the exchange’s staking pool. It's quick and easy but the APY rate may be lower than what’s on offer through a non-custodial platform.