Earn 19% rewards with Kava Staking
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Kava (KAVA) is a DeFi platform that allows users to borrow and lend crypto assets in a completely decentralized way - without intermediaries, such as governments or financial institutions.
Unlike many other DeFi platforms, Kava is built on the Cosmos ecosystem and not Ethereum. Cosmos was chosen for its focus on interoperability (which is useful when you want to borrow and lend different cryptocurrencies) and scalability. Ethereum, even while in transition to its ETH 2.0 model still struggles with congestion from time to time.
Users of Kava lock their assets into smart contracts which allow them to borrow USDX - a native cryptocurrency of the platform which value is pegged to USD.
What is KAVA staking?
Kava staking is a process that allows users to earn rewards for locking up their Kava tokens in a staking pool. By staking Kava, users can earn rewards in the form of Kava tokens, which can be used to pay for fees on the Kava platform or exchanged for other cryptocurrencies. Staking also helps secure the network and ensures its stability. To stake Kava, users must first deposit their tokens into a staking pool and then select a validator node to delegate their stake to. The validator node will then validate transactions on the network and receive rewards for doing so. Rewards are distributed proportionally among all participants in the pool based on their stake amount.
KAVA staking in Atomic Wallet
Atomic Wallet runs its own validator, so by staking KAVA with Atomic Wallet, you choose us as your validator! In addition, Atomic Wallet provides a secure, decentralized, and custody-free staking option that can be accessed seamlessly through both desktop and mobile devices.
How do I stake KAVA in Atomic Wallet?
Deposit some KAVA
First things first, you need to have some KAVA in Atomic Wallet. There are several ways to do that.
Buying KAVA in Atomic Wallet
The first thing you can do is buy KAVA tokens directly in the wallet with your debit or credit card. You'll need to go through a simple verification process and provide some info (name, billing info, etc). If you have any questions about purchasing KAVA, our guide should help you out!
Swap other coins for KAVA
If you have some other asset, like EOS, for example, but you want to give KAVA a shot, you can make a swap in the wallet. Our built-in swap supports more than 500 crypto assets, where you can freely swap your assets without having to verify your identity or follow time-consuming ‘Know Your Customer (KYC) protocols. Feel free to check out this guide if you want to know more.
Sending KAVA to your wallet
Finally, if you already have some KAVA on an outside platform, you can simply send them to your Atomic Wallet.
Stake your KAVA
First, go to the staking tab. Click 'Staking' on the left sidebar of your desktop wallet interface. If you're on mobile, the button is located on the bottom panel. It's a list of all the assets available for staking in the Atomic Wallet, along with their APYs.
Select KAVA from the list. You will be presented with KAVA staking interface. You'll see the following list:
Total is the total amount of KAVA (both staked and not) along with unclaimed rewards you have.
Available is the total amount of KAVA you can stake right away.
Staked is your staked balance. I.e., the number of KAVA that you have already delegated to a validator.
Rewards are the amount of rewards your stake has generated that you can claim at the moment.
Unbonding is the amount of KAVA that is currently in the process of unbonding (or unstaking).
Press the 'Stake' button at the bottom of the screen and choose the amount of KAVA you want to stake. You'll also see how much you'll have to pay in transaction fees. Keep in mind, that Atomic Wallet does not charge any additional transaction fees from their users.
Confirm the transaction by entering your password. That's it! You have now staked your KAVA and are already earning rewards.
How do I unstake my KAVA?
Go back to your staking interface and click 'Unstake'. Keep in mind, that it takes 21 days for your KAVA coins to fully unstake!
Get into staking today!
Staking is a simple and profitable way to get more value out of your KAVA coins. Get your KAVA coins to generate additional income for you while also making the chain more secure.