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How to Stake Harmony (ONE) in the Guarda Mobile Wallet

New high-performance DeFi blockchain protocols have replaced outdated and inefficient platforms that have problems with scaling, network bandwidth, and transaction fees reaching several dollars.  In the following article, we present a brief overview of the Harmony Protocol and a guide on staking ONE tokens via the Guarda mobile wallet. You will learn how to create a wallet and how to stake ONE.

How to create a Harmony wallet in Guarda?

 

Guarda is a multi-currency online wallet that supports multiple cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Cosmos (ATOM), Harmony (ONE), and many others. The wallet has a built-in exchange for quick purchase and sale of cryptocurrencies (swap) and supports staking. The Guarda wallet is available in both desktop and mobile versions. In this article, we will discuss how to use Guarda Mobile App.  

In order to launch a mobile wallet, go to the Guarda website and click “Download Mobile Wallet”. Then, choose the suitable platform: iOS or Android.

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Download the mobile app and click “Create a new wallet”. If you have previously created a Harmony wallet, you can import it by clicking “Restore”. In this guide, let’s create a new one. 

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Create and set a password to log in to your wallet. Make sure the password is strong enough. Confirm that you saved the password – it won’t be recovered if you lose it. 

For your security, download the backup code and set your fingerprint authentication.

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Use “search wallet” section and create a Harmony wallet.

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The wallet is already created. Now, you need to download the latest backup and it is done. 

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How to stake ONE?

After funding your wallet, it is time to make your assets work for you and earn rewards with staking. 

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Click the “Stake” button located at the bottom of the screen.

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Remember: The minimum amount of tokens for staking is 100 ONE. Also, to conduct transactions, particularly 1) delegation, 2) unstaking, and 3) withdrawal of rewards, you need to pay a network commission, hence keep at least 1 ONE to cover transactions.

To select the validator, click “Advanced options”. A list of available validators will open. To search for a validator, start entering its name, for example, Everstake. Check out the validator’s fee and the current APR of the network. After that, click “Next” to continue.

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The last step is checking the transaction details and confirming if everything is correct.

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The tokens are successfully staked.

Note: The rewards are distributed each epoch (≈18h currently) and won’t be compounded automatically. In order to add rewards to a stake, you need to claim and add them manually. You can add claimed rewards to a stake once the minimum required amount is reached (100 ONE).

How to unstake ONE?

To unstake your tokens, go to the “staking” section and click “unstake”.

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If the transaction details are correct, confirm.

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The tokens are successfully unstaked. 

Remember: Your ONE tokens will be back on your balance after 7 epochs (up to 6 days). 

Subscribe to our Everstake channels on social networks, where you will find a lot of useful articles and guides on staking.

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