When considering staking STRD tokens for financial growth and active participation in the blockchain ecosystem, Trust Wallet stands out as one of the reliable tools. By using Trust Wallet for staking, you can earn rewards, contribute to network security, and validate transactions, all within a user-friendly and secure platform.
To start enjoying the rewards of staking STRD, it’s essential to understand how to install the wallet, fund it, and initiate staking — an easy process for both newcomers and experienced users. Read on to discover the steps and unleash the full potential of your STRD tokens.
What is Stride?
Stride is a platform in the Cosmos blockchain network focusing on liquid staking. It allows users to stake Cosmos tokens, like ATOM, and get liquid staking derivatives in return. These derivatives mean users can still use their staked assets in decentralized finance (DeFi) activities, like lending or borrowing. This way, they earn rewards from staking and can use their assets simultaneously.
Stride uses Cosmos’ inter-blockchain communication to work with different blockchains in the ecosystem, making it more versatile. Essentially, Stride makes staking more flexible and useful in crypto by combining it with DeFi opportunities.
What is STRD?
The STRD token is the native governance token of Stride Zone, a platform within the Cosmos ecosystem. It empowers holders to make vital decisions for the network, such as allocating staked tokens to validators, adding new validators, and implementing protocol changes and upgrades. Additionally, STRD tokens can be staked to secure the Stride Appchain, contributing to its stability and security.
What is a Trust wallet?
Trust Wallet is a user-friendly and secure mobile cryptocurrency wallet supporting a wide range of digital currencies, including Bitcoin, Ethereum, and various ERC-20 and ERC-721 tokens. It is designed for both crypto beginners and experienced enthusiasts, ensuring top-notch security by storing private keys on the user’s device.
Trust Wallet stands out for its straightforward use of decentralized apps (DApps), making it easier for users to engage in decentralized finance (DeFi) and other blockchain activities. The wallet also features staking capabilities for various cryptocurrencies, enabling users to earn rewards.
In recent developments, Trust Wallet underwent a rebranding, unveiling a new, more intuitive design and an updated visual identity. This revamp includes a vibrant new logo and color scheme, all part of an effort to better empower users in their Web3 journey. The makeover signifies Trust Wallet’s dedication to making its platform more accessible, secure, and tailored to a wide range of user experiences.
How to Stake STRD
To stake STRD tokens using Trust Wallet, you first need to install the wallet, which is compatible with both iOS and Android devices. This compatibility ensures that you can conveniently access and manage your digital assets wherever you go. Furthermore, the credibility and reputation of Trust Wallet are bolstered by its association with the Binance exchange, a well-respected name in the crypto community. This connection adds an extra layer of trust for users engaging with the wallet.
Here are the steps for installing the wallet:
Step 1: Installing Trust Wallet
- Navigate to the Trust Wallet official website to install the extension for Google Chrome and select Add to Chrome. Confirm by clicking Add extension in the pop-up window.
Step 2: Create a Wallet
- Click on Create new wallet to get started.
- A page for setting up a new password will show up. Read to understand the password requirements.
- Create a strong password for your new wallet. Once you’ve entered the password, confirm it by entering it again in the designated field.
- Review the Terms of Use provided by the wallet. If you agree to the terms, check the box to acknowledge your agreement. Finally, click Next to continue with the wallet setup.
- Choose whether to share your Trust Wallet usage data to help improve the app. If you’re okay with sharing, click Share data. If you prefer not to share, click No thanks.
- Your Trust Wallet is set up and ready. To facilitate connections with decentralized apps, switch on Trust set as default wallet. Click Open wallet to begin using it and pin it to your browser’s toolbar for quick access.
- It’s important to secure your Trust Wallet by backing up your Secret Phrase. Click the Backup your Secret Phrase now prompt, then follow the steps to save your phrase securely. Store it safely and keep it confidential, it will be needed for recovering your wallet.
- Tap Show to view your Trust Wallet’s 12-word Secret Phrase. Write it down on a paper and store it securely; it’s essential for accessing your funds. If you choose not to back up now, click Cancel, but be aware that not doing so risks losing your funds if your device is lost.
- Now, confirm your Secret Phrase by selecting its words in the order they were presented. After choosing all 12 words correctly, tap Next. Use Clear all to redo or Back to return to the previous step. This confirmation is crucial for securing your Trust Wallet.
Congratulations! You have successfully set up your Trust Wallet.
Step 3: Top Up your wallet
To fund your wallet, you can transfer coins from another wallet or exchange, or swap via IBC‐enabled chains (ex. ATOM) using https://app.osmosis.zone/.
- In Trust Wallet, select the asset you want to top up and tap Receive to get the address or QR code for depositing tokens.
- Select the cryptocurrency you want to top up, in this case STRD. If it’s not listed, you may need to add it as a new token.
- Tap on the Receive button to add STRD tokens to your Trust Wallet.
- Copy the wallet address provided by Trust Wallet. Alternatively, use the QR code, which can be scanned by another device for sending funds.
Transfer Funds:
- Go to the external wallet or exchange where your funds are currently stored.
- Choose the option to send or withdraw cryptocurrency.
- Paste your Trust Wallet address into the recipient field, or scan the Trust Wallet QR code if the platform supports QR scanning.
Confirm the Transaction:
- Enter the amount of cryptocurrency you wish to transfer.
- Review the transaction details, including any network fees.
- Confirm the transaction.
Wait for Confirmation:
- Once you’ve initiated the transfer, it will take some time for the transaction to be confirmed on the blockchain.
- You can check the status in your Trust Wallet or on a blockchain explorer by entering your wallet address.
Check Your Trust Wallet:
- After the transaction is confirmed, the funds should appear in your Trust Wallet.
- Refresh the wallet if necessary, and the new balance should reflect the top-up.
Step 4: Stake STRD
- To begin staking STRD tokens in your Trust Wallet, tap the Get started button. This will lead you through the process of staking your tokens.
- To stake your STRD tokens in Trust Wallet, tap on the Stake now button.
Enter your desired amount of STRD tokens to stake in the ‘Amount’ field, then choose Everstake as your validator. Review the APR details and tap Stake now.
Please note: Earnings begin a day after staking, and unstaked funds are available after 14 days. Unstaking or redelegating is possible anytime, with standard network fees applied.
- On the ‘Confirm stake’ page, review your STRD token amount, chosen validator, and network fee. If everything looks good, tap Confirm to complete the staking. Your tokens will be staked, and you’ll start earning rewards at the staked APR.
Step 5: Monitor your rewards
To monitor and claim your staking rewards for STRD in Trust Wallet:
Monitor Rewards
- Open the Trust Wallet app.
- Navigate to the Earn section from the main wallet page.
- Select STRD to view your staking rewards.
Claim Rewards
- In the ‘Earn’ section, after selecting STRD, there should be an option to claim your rewards.
- Follow the on-screen instructions to claim them. Be aware that there might be a network fee for claiming your rewards.
For more detailed information, tutorials, and FAQs about staking with Trust Wallet, visit their official community help center at Trust Wallet’s Help Center. Here you can find a wealth of resources and community-driven support that can guide you through the staking process and answer any specific questions you might have.
Conclusion
Trust Wallet stands out as a user-friendly platform, simplifying the process of staking STRD tokens from installation to validator selection. This ensures a secure and hassle-free staking experience, making it suitable for both newcomers and experienced users.
Choosing Everstake as your validator when staking STRD via Trust Wallet aligns you with a reliable partner known for technical excellence and commitment to the blockchain ecosystem. Everstake’s strong reputation is founded on the trust of a broad user base of over 625,000 people across 70+ blockchain networks. This trust arises from our unwavering commitment, reflected in our dedicated teams, robust infrastructure, and active involvement in innovative blockchain projects.
For any questions or updates, contact our Stride Blockchain Manager on Twitter (X).
