This guide will reveal how to stake Cosmos (ATOM) using a CoolWallet.
What is CoolWallet?
CoolWallet, as its name suggests, is a Web3 wallet secured with a hardware shell keeping your private keys offline. Such an approach makes it impossible to compromise your wallet on the internet, thus providing an excellent tool for storing multiple crypto tokens and staking them, Cosmos ATOM in particular.
Unlike other hardware wallets, it provides complex security features such as biometric and physical verification and a military-grade Bluetooth connection (AES 256). A private key is locked with EAL6+ secure element (Evaluation Assurance Level for IT products). All transactions, including staking, must be personally confirmed with a hardware wallet and a smartphone, giving access to the owner only.
What is Cosmos (ATOM), and why you may want to stake it?
Cosmos Hub (ATOM) network was built as a core of the Cosmos ecosystem, standing for a variety of sovereign blockchains all designed with Cosmos SDK framework (based onProof-of-Stake consensus mechanism). All chains are interoperable and interconnected via Interblockchain Communication, forming together a single environment for development and scaling.
Learn more about How to Stake Cosmos ATOM in our post.
How to stake ATOM with CoolWallet
To start staking ATOM in the wallet, you must first acquire the CoolWallet card. You can read about several products on the official website to pick and buy the one you need. In this guide, we will use CoolWallet Pro.
CoolWallet card is compatible via BlueTooth with Android and iOS applications. Download the application for your smartphone from a respective store.
Before getting started, please learn how to pair your CoolWallet with the application and confirm transactions by following the official guideline.
Step 1. Replenish your wallet with ATOM
You can top up your wallet from exchanges by buying ATOM.
Step 2. Initiate staking ATOM in the application
Once your balance is positive, you can switch from the Wallet to the Marketplace section to click on Staking. To reach the staking dashboard, click ATOM and then hit the Stake button.
You can see your stake amount, Cosmos account, and validator (Everstake) in the dashboard.
Everstake is one of the leading staking providers in the blockchain domain, trusted by over 625,000 users. Our nodes are run with enterprise-level hardware for the most popular chains since 2018. Everstake also creates complex blockchain products, such as blockchain explorers, staking pools, chain bridges, etc.
Specify the amount you are willing to stake and press Continue to proceed.
Step 3. Verify the transaction with the CoolWallet card
To proceed, read the popped-up notification, tap on Verify with the card, use your fingerprint, and connect your card via Bluetooth.
Wait until the verification request is displayed and confirm your stake by pressing your CoolWallet card to complete staking.
You can know the staking was successful if a green light goes on.
The final report will show the details of your transaction, namely your Cosmos address, Validator’s address, and transaction hash which can be instantly found in Mintscan with the attached link.
Step 4. Go to the Manage Stakes tab to rule your ATOM stake
Tap Manage Stakes to see your existing ATOM stakes.
Now you know how to delegate ATOM secured with CoolWallet card protection. Note, that the more ATOM you stake, the more you earn! And if you claim your rewards and then stake them again, it will increase your total stake, thus giving you more staking rewards in the future.
To explore other wallets that support ATOM staking, please visit our website to find respective staking guides. Besides, on the website, you can find Cosmos essentials explained and a calculator to know your future rewards depending on how much you will stake.
Feel free to contact our Cosmos Segment Lead on Twitter for any questions.
