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How to Stake Cosmos (ATOM) and Earn Rewards Using Trust Wallet

게시: Sep 26, 2024
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요약

Learn how to earn rewards for staking COSMOS (ATOM) using Trust Wallet. This step-by-step guide will show you how to stake, unstake, and claim rewards.

How to Stake Cosmos (ATOM) and Earn Rewards Using Trust Wallet

COSMOS staking is an efficient way to earn rewards while supporting the security and governance of the Cosmos network. When you stake your ATOM tokens, you contribute to the decentralization of the network and earn rewards for doing so. Trust Wallet, a secure and user-friendly crypto wallet, simplifies the staking process, enabling you to manage your ATOM effortlessly.

This guide will walk you through the process of how to stake COSMOS using Trust Wallet. From downloading Trust Wallet, to managing your staked tokens, you’ll find everything you need in this guide to stake COSMOS.

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Before You Get Started

Remember that you can use Trust Wallet as your secure crypto wallet. Buy, sell, swap and stake crypto all in one place.

Trust Wallet also lets you manage and interact with 10M+ crypto assets across 100+ blockchains. Download the latest version of Trust Wallet today.

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What is Cosmos and the ATOM Token?

Cosmos is a network of independent blockchains, each designed to operate autonomously while being connected through the Cosmos Hub. The Cosmos Hub, which uses a Proof-of-Stake (PoS) consensus mechanism based on the Tendermint protocol, serves as the central hub that facilitates interoperability between these blockchains.

The ATOM token is the native token of the Cosmos Hub. ATOM plays an important role in the network's governance and security. When holding and staking ATOM, users gain the right to participate in the network's consensus process. This includes voting, validating transactions, or delegating their tokens to validators. In return, participants earn rewards in the form of newly minted ATOM tokens and transaction fees, contributing to the network's ongoing decentralization and security.

What is COSMOS Staking?

Cosmos staking involves delegating your ATOM tokens to validators within the Cosmos network to help secure and maintain the blockchain. Validators are responsible for validating transactions, producing new blocks, and ensuring the overall security of the network. When you stake ATOM, you are directly contributing to the network's stability and security, while also earning rewards in return.

Your ATOM tokens are locked up with a validator of your choice when you stake them. Your selected validator then uses these tokens to participate in the consensus process. In return, you earn a share of the rewards generated, which can include newly minted ATOM and transaction fees collected by the validator. The amount of rewards you earn depends on factors like the validator's performance, commission rate, and the total amount of ATOM staked in the network.

In addition to earning rewards, staking ATOM also gives you a voice in the governance of the Cosmos network. Stakers can participate in voting on important network proposals, such as protocol upgrades and parameter changes, influencing the future direction of the network.

Why Choose Trust Wallet for Staking COSMOS?

Staking COSMOS using Trust Wallet gives you a secure way to earn rewards while supporting the Cosmos network. Trust Wallet is a non-custodial wallet, meaning you have full control over your private keys and, by extension, your ATOM tokens. This ensures that your assets are secure and that you are the only one who can access your funds.

Trust Wallet also provides an intuitive user interface, making it easy for both beginners and experienced users to stake their ATOM. With just a few taps, you can delegate your ATOM to a validator, start earning rewards, and track your staking performance directly within the app. Additionally, Trust Wallet supports a wide range of cryptocurrencies, enabling you to manage and stake various assets from one convenient platform.

Key Details for Staking COSMOS Using Trust Wallet

Minimum Amount to Stake Cosmos

To start staking Cosmos (ATOM) using Trust Wallet, you need to stake a minimum of 0.01 ATOM. This low threshold makes it accessible for both new and experienced users to participate in staking, even with smaller amounts of ATOM.

Lockup Period

When you stake ATOM, your tokens are subject to a lockup period of 21 days. During this period, your staked ATOM cannot be transferred or traded. This lockup is essential for maintaining the stability and security of the Cosmos network. It’s important to consider this period when planning your staking activities, as you won’t be able to access your staked tokens until the lockup period ends.

Unstaking Process

If you decide to unstake your ATOM, the process is straightforward in Trust Wallet. However, once you initiate the unstaking process, there is a 21-day waiting period before your tokens become available for withdrawal or transfer. This waiting period is standard across the Cosmos network and is designed to protect the network’s security. During this time, your tokens will not earn rewards, so plan accordingly when deciding to unstake.

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How to Stake COSMOS Using Trust Wallet

Before you stake, be sure that you have the most up-to-date version of Trust Wallet.

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Next, if you don’t have any COSMOS in your wallet, you can deposit crypto using the “Receive” button, or buy crypto directly using Trust Wallet.

Now you’re ready to stake and earn rewards. Staking can be done in just a few steps, and here’s how.

Note: Below, we’ll use staking COSMOS as the example, but the process is generally the same for each asset.

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How to Unstake COSMOS in Trust Wallet

If you would like to unstake your COSMOS, simply follow the steps below:

Note: You will not be able to withdraw your tokens while they are staked. If you want to withdraw your COSMOS, staked COSMOS takes 21 days to unstake. This is not something Trust Wallet controls.

In addition to staking crypto, Trust Wallet lets you manage and interact with 10M+ crypto assets across 100+ blockchains. Download the latest version of Trust Wallet today.

Closing Thoughts

By participating in staking, you contribute to the decentralization and resilience of the blockchain, all while potentially increasing your holdings through earned rewards. Trust Wallet makes the process seamless, from staking to managing and claiming rewards, ensuring that you have full control over your assets. Whether you’re new to staking or an experienced participant, Trust Wallet provides the tools and security needed to maximize your staking experience with Cosmos.

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Disclaimer: Content is for informational purposes and not investment advice. Web3 and crypto come with risk. Please do your own research with respect to interacting with any Web3 applications or crypto assets. View our terms of service.

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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.