With this step-by-step guide you will learn how to stake Avalanche (AVAX) while keeping full control of your funds.
The most feasible staking option for network participants is by delegating their tokens to a Validator. This is a simple transaction that can be facilitated via the Avalanche Wallet.
When you delegate stake to a validator you specify:
- The ID of the node you’re delegating to
- When you want to start/stop delegating stake (must be while the validator is validating)
- How many AVAX you are staking
- The address to send any rewards to
The only requirements from you are to have at least 25 AVAX tokens. Please note that you have to stake your funds between 2 weeks to 1 year in which your tokens are not accessible.
For staking AVAX, we recommend the official Avalanche Wallet, which is a web-based application with no middleware or any kind of server communication. The Avalanche Wallet is written in Vue JS and can be either accessed online or compiled and run locally.
The Avalanche Wallet can be accessed here.
The Avalanche Wallet source code can be found here.
1. Open the Avalanche Wallet
You can access your wallet using your key phrase, keystore file, or Ledger Nano S (coming soon!)
2. Navigate to “Earn” section
To stake, you need to have your funds available on the Platform Chain (P-Chain)! If your funds are on the Exchange Chain (X-Chain), we will need to transfer them to the P-Chain by initiating a cross-chain transfer. If your tokens are locked they are already on the P-Chain, so you don’t need to perform the Cross Chain Transfer from X-Chain to P-Chain.
Enter the amount you wish to transfer to your P-Chain and complete the transfer by clicking the “Transfer” button below.
Voila!
Now, we have our funds ready for staking on the P-Chain. Next, you can add a validator or a delegator to your wallet.
3. Add a Delegator
Select a validator you want to delegate your tokens with from the list of active network validators.
If you are unsure which validator to delegate to, you can visit the Staking Rewards Validator Ranking of all public Avalanche Providers here: https://www.stakingrewards.com/earn/avalanche/providers
Specify your staking period and stake amount. Pay attention to the end time of the selected validator. Your delegation period cannot be set to end past the end date that the validator has set.
Confirm the details!
Congratulations. You are now delegating the Avalanche Primary Network!