EGLD is the native token of the MultiversX blockchain. You can help secure the MultiversX by delegating your EGLD tokens and staking to the Everstake pool to receive a portion of the rewards. Recently, a new partnership with Atomic Wallet was announced, allowing EGLD holders to stake their coins. You can check our guide on How to Stake EGLD Using Atomic Mobile Wallet here. This guide will show you how to stake EGLD using Desktop Atomic Wallet.
What is MultiversX?
MultiversX (previously Elrond Network) is a decentralized, scalable, and secure Layer 1 blockchain protocol founded by Lucian Todea, Beniamin Mincu, and Lucian Mincu in 2017. MultiversX describes itself as a blockchain platform for building new apps, new economies, and new worlds. On November 2022, at the conference - X Day Paris, the blockchain announced its huge transformation into MultiversX.
Welcome to the Multiverse, to the power of X!
What is Atomic Wallet?
Atomic Wallet is a crypto wallet for buying, staking & exchanging. You can manage crypto assets like Bitcoin, Ethereum, XRP, Litecoin, XLM, EGLD, and over 300 other coins and tokens. The Atomic Wallet is good for beginners and experienced crypto users because it's a secured, anonymous and decentralized wallet trusted by 5,000,000 users worldwide.
Why Stake EGLD?
Staking is a process that locks up your EGLD token to participate and help maintain the security of that MultiversX's blockchain. Meantime, you earn crypto rewards while staking making a big contribution to the efficiency of MultiversX. It's a possibility to earn passive income. Rewards are paid out daily at the epoch change approximately at 15:20 UTC.
How to Create Atomic Wallet?
Go to the official Atomic Wallet website and click the Download button. Currently, the Atomic Wallet is available for this software: Windows, macOS, Ubuntu, Debian, and Fedora. The Mobile version is available for Android and iOS users. You can download it from App Store and Google Play accordingly. We will show you how to manage Atomic Desktop Wallet for Windows users.
So, after you click Download you will transfer to the Download menu. Choose Windows.
After that, you’ll need to install the wallet on your computer as a standard program. When installing will be finished open your wallet. If you don’t have an account you need to create one. Click New Wallet.
Then, create a strong password. Repeat your password and click on Set Password. You should remember that it is appropriate to save all crypto wallet-related information offline. You can write down your passwords and seed phrases on paper and keep that hidden in your home.
After that, the wallet will generate a set of 12 random words Backup Phrase. This is your wallet recovery phrase. Note: It is essential not to take screenshots or copy the phrase to the clipboard. The best way is to write it down so nobody else can reach the keywords. After that, you can open your wallet and use it.
Top Up Your Atomic Wallet
Before starting to stake, you must fund your wallet with EGLD tokens. But if you already have a positive balance in your wallet, you can skip this and move directly to staking. Follow these steps to add funds to your Desktop Atomic wallet.
Step 1. Select EGLD in the List of the Chains
Find through the chains EGLD or manually write it in the search button and select MultiversX (EGLD).
Then, click the receive button and copy your address wallet (you will send EGLD to this address).
Step 2. Send the Funds to Your Wallet
Next, head to the CoinGecko website and buy EGLD tokens from any cryptocurrency exchanges on the list. After the transaction is done, come back to your Atomic Desktop Wallet.
How To Stake EGLD
Delegation is the opportunity for all token holders to stake in partnership with a Validator. You can delegate your EGLD with an approved validator, such as Everstake, and earn passive income. The following steps explain how to stake EGLD via Atomic Desktop Wallet.
Step 1. Go to the Staking Menu
On the left side of the navigation bar, you will see the staking button. Click it and you will see a list of all assets available for staking. Among them, select MultiversX’s EGLD.
Click the yellow Stake EGLD button or the blue Stake button to begin the process. The functionality of these buttons is the same.
Then, you can choose the amount you want to stake. Note the minimum amount to be staked is only 1 EGLD. You can also select the Stake all button to stake all your balance (minus the network fee). Enter the amount or stake all EGLD and choose a validator from the list.
Enter “Everstake” in the search field and select it. You can also find Everstake by scrolling down the list of validators. Here you will see the approximate yearly earnings and the network fee. After that click Stake EGLD, and you will be redirected to the “Staking” window.
Write your password and confirm the transaction.
Step 3. See the Transaction Details
Done! Your transaction is successfully completed! You can review the transaction by checking its hash in the MultiversX explorer. Your rewards will arrive every 24 hours at the epoch change.
If you want to unstake or redelegate your tokens, you need to click the Unstake tab, followed by the Unstake button. Please note, however, in terms of security, ten epochs are required to unbond the funds. During this period delegator will not receive any rewards.
You can also immediately stake more EGLD tokens, but keep in mind that each time you will need to stake from 1 EGLD.
Conclusions
Atomic Wallet allows its users a wide range of functionality and one of them is staking. At the same time, EGLD staking is one of the best ways to earn passive income from your tokens. By doing this, you ensure the security of the blockchain and the execution of transactions. In turn, you receive rewards daily.
Everstake is an active MultiversX ecosystem contributor and a validator for over 70 blockchains. We have a dedicated team of community, DevOps, and marketing specialists. Plus, you get your blockchain community representative with Everstake.
If you have any questions you can always contact our EGLD Blockchain Manager on Twitter.
