How to Stake SUI and Earn Rewards Using Trust Wallet
Learn how to earn rewards for staking SUI using Trust Wallet. This step-by-step guide will show you how to stake, unstake, and claim rewards.
Trust Wallet, available as a mobile app and Chrome Extension, is a simple-to-use, self-custody crypto wallet and gateway to Web3 for people who want to fully own, control, and leverage the power of their digital assets. Trust Wallet allows you to store and manage your crypto and NFTs, buy, sell, and stake crypto to earn rewards, access dApps securely and much more—all in one place. In this guide, we’ll focus on the staking feature, and specifically how to stake SUI.
Key details for staking SUI using Trust Wallet
Minimum amount required for staking: 1 SUI
Lockup period for staking: 1 day
Staking yield (APR): Please see rates listed in the ‘Earn’ section of the Trust Wallet app.
Trust Wallet does not control the minimum amount, lockup period, or staking rate.
What is staking?
Staking is a method of supporting a proof-of-stake (PoS) or a delegated proof-of-stake (dPoS) blockchain network by holding and "staking" a specific cryptocurrency. This activity contributes to various functions within the network such as transaction validation, upholding the network's security, and refreshing the blockchain. In return for their staking commitment, participants can earn staking returns, somewhat like earning interest in a traditional banking system.
What is SUI?
Stargaze is a community-controlled network that is primarily used for Non-Fungible Tokens (NFTs). It operates as a specific application built on the Cosmos Proof-of-Stake blockchain, using the Tendermint consensus mechanism for agreement among network participants. Stargaze's objective is to function like OpenSea, another platform for NFTs, but with a major distinction: it is managed by its community through two Decentralized Autonomous Organizations (DAOs) – a curation DAO and a protocol DAO.
SUI token holders participate in the network's governance model and can stake their tokens to secure the network and earn rewards.
Before you stake SUI using Trust Wallet
Before we dive into how to stake SUI using Trust Wallet, you’ll need to create a wallet if you don’t already have one. Trust Wallet is available as a mobile app or you can get the Trust Wallet Extension for your desktop web browser. In this example, we’ll set up a new wallet using the Trust Wallet Mobile App.
Step 1: Download the latest version of the Trust Wallet App.
Step 2: Set up your new wallet
Open the Trust Wallet app, and choose the option to ‘Create a new wallet.’
Select an option to back up your wallet.
Go through the instructions to start using your wallet.
Tip: If you already have a wallet that’s not Trust Wallet, you can choose to import that wallet. In this case, you’d choose the “I already have a wallet” option.
Step 3: Ensure you have SUI in your wallet
You’ll need SUI in your Trust Wallet before you stake it, so use the appropriate instructions below to get SUI into your wallet.
Use these instructions to deposit SUI into your wallet.
How to stake SUI using Trust Wallet
To stake SUI, do the following:
Select the “Earn” button from the main wallet page.
Choose the amount you want to stake and choose the validator you want to use by selecting the Validator dropdown.
Once you choose a validator, then select “Continue”.
Follow the remaining instructions to confirm your stake.
Frequently asked questions about staking SUI using Trust Wallet
How much do you earn staking SUI?
Staking rates may vary depending on the network, and the rate is not set or controlled by Trust Wallet. You can check the current rate anytime from within the app.
Note: Validators and delegators help secure the network through staking and will sometimes charge a commission for their services. This is neither controlled by Trust Wallet nor does Trust Wallet take any proportion of this commission.
What is the minimum amount to stake SUI?
The minimum stake amount is: 0.000001 SUI.
When do I start receiving rewards when I stake SUI?
The time to your first reward is: Immediately.
What is the reward frequency when I stake SUI?
With each block.
What’s the minimum reward amount in order to claim?
Are my SUI staking rewards automatically restaked?
What is the lockup period when I stake SUI?
The lockup period is 1 days.
Can I use my SUI while they are staked?
No, you won’t be able to use your tokens while they are staked/locked. Before you use your SUI tokens, you’ll need to unstake them.
How do I unstake SUI on Trust Wallet?
To unstake SUI, do the following:
Go to ‘Earn’ from the main wallet page, choose SUI.
Then choose Unstake and follow the instructions to confirm the unstaking process.
Note: You will not be able to withdraw your tokens while they are staked. If you want to withdraw your SUI, staked SUI takes 1 day to unstake. This is not something Trust Wallet controls.
How do I claim my rewards?
It’s important to note that rewards are added to your staked balance automatically. Therefore you’d claim those rewards by unstaking funds from your staked balance.
What is the best wallet to stake SUI?
Many people wonder where the best place to stake SUI is. Trust Wallet is a great option because it allows you not only to stake your SUI to earn rewards directly with the protocol, but you can also claim your earned crypto directly within the wallet and store it safely.
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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.