The Cosmos team developed an open decentralized network in 2019 through which different blockchains can exchange data with each other. The Cosmos Network’s goal is to create a global, scalable, and interoperable internet of blockchains. ATOM token holders can delegate coins to validator nodes and receive passive income of up to 20% per annum.
Read on to learn how to stake Cosmos tokens (ATOMs) in a Guarda desktop or browser wallet.
What is Guarda
Guarda is a secure multi-currency wallet where users can not only store cryptocurrency but also exchange and stake it for additional passive income.
Guarda wallet is available on PC, mobile, and web platforms. We will use the web version for this tutorial. For a desktop wallet, the creation and staking procedures are the same. If you are using the Guarda desktop client, you can download it from the website by tapping your OS:
Now we need to create a crypto wallet so that we can stake ATOM.
How to create a Cosmos Wallet
Go to the Guarda website and click Launch App to reach the web application or launch the wallet on a PC and click on the “Create Wallet” button.
You can create a new wallet for Cosmos or restore an old one using a seed phrase. If there is no wallet yet, then click “Create a New Wallet”.
Create, enter and save a complex password for the wallet. Follow these simple rules for creating a strong password: you need as many different characters as possible without a forward or backward sequence (the logical connection between symbols). Make sure that “Well Done” appears next to the password. This means that the password is strong enough. Then click “I’ve written it down”
Wait while the wallet is being created. It will take less than a minute.
Now download the backup keystore file for recovery. Please note that the wallet requires both a password and a backup file to log in. If you lose the backup file, access can only be restored using the mnemonic password. Click “Download Backup” and save the file in the directory you need.
Excellent! We have created a wallet. Let’s replenish it with ATOM tokens. We need to find the Cosmos wallet address. Select the wallet you need from the list, and click on it.
Note: Everstake has a convenient dashboard. You can sign in to everstake.one with your ATOM address and track all staking transactions, including stake, unstake, and rewards.
How to Top Up Your Wallet
Scan the QR code from another application or click on the address to copy it and then send coins. The transaction takes about a minute.
Another option you may want to use to get some ATOM is a wallet internal fiat exchange located in the BUY&SELL tab, supporting VISA, MASTERCARD, and UNION PAY.
Done! Cosmos tokens are now in your wallet. Next, we will explain to you how to stake them.
How to Stake ATOM
There are two ways to delegate tokens to the validator:
1. By clicking the “Staking” button under the wallet name in the left list.
2. By clicking the “Stake” button under the address and QR code (see screenshot).
Select a wallet with ATOM tokens and a validator. Then click on the arrow in the “To” column and start typing the name of the validator, or just select it from the list.
Now enter the number of tokens you are going to delegate to the validator. To stake the entire amount instead of entering it manually, click on the ATOM number. Then click “Next”.
Check the details of the transaction, and if everything is ok, confirm it.
Done and done! We have successfully staked ATOM tokens in the Guarda web wallet.
Congratulations! You have now become a delegate and will receive passive income in ATOMs. Remember to pick up the reward from time to time and reinvest it to increase your income.
Learn more about How to Stake Cosmos ATOM in our post.
Why Everstake?
Diving into the staking industry at the very start of it four years ago, Everstake has become one of the biggest validators worldwide. We successfully serve more than 625 000 customers who staked with us crypto assets in 50 blockchains. Everstake is trusted because of the flawless validating nodes performance, high-level customer support 24/7, and the team of experienced professionals in IT and Finance.
Cosmos Tools Development:
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Dashboard
Remember about the Everstake dashboard? Having added a Cosmos address, you are able to track all of your staking transactions. To start, just follow the Cosmos section on our website: everstake.one/cosmos, and get all the staking data just under your fingertips! You will find there your personal stats, blockchain stats, Delegations and Rewards charts, and history that is super helpful in staking planning and analysis.
2. Cosmoscan
If you want to discover Cosmos blockchain in all details, visit cosmoscan.net — a convenient free on-chain data explorer developed by Everstake where you can fastly reach validators, governance, and network stats visualized in charts.
Also, subscribe to Everstake channels if you haven’t already. Here you will find up-to-date articles about PoS cryptocurrencies and guides.
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