Why stake ALGO with Kraken?

STAKING CRYPTO

Earn up to 21%* on your crypto

FAQ

Algorand staking FAQ:

1. Is there a transaction fee to stake my Algorand?

   There is no transaction fee for staking Algorand on Kraken. While there is a fee for transferring Algorand from a separate wallet into your Kraken account, Kraken does not charge any transaction fees to stake ALGO.

2. Do I need to lock up my ALGO for a period of time when staking on Kraken?

   There is no lockup period for staking Algorand on Kraken — you are free to unstake your ALGO any time if you want to convert into another cryptocurrency or cash out your staking rewards.

3. Can I convert ALGO to USD?

   You can easily convert ALGO to USD by taking the price of Algorand multiplied by the number of ALGO coins you hold. See our Algorand price page converter for details.

4. What is proof of stake?

   Proof of Stake is a consensus algorithm that uses cryptocurrency tokens and network incentives to keep a blockchain secure. On a Proof of Stake blockchain like Algorand, ALGO tokens are staked in order to make network validators eligible to verify transactions and incentivize their honest behavior. The amount of ALGO a validator stakes is directly proportional to the likelihood that they will be chosen to validate the transaction, with some degree of randomness. Those chosen to verify a transaction on a Proof-of-Stake blockchain like Algorand are rewarded with ALGO tokens.

5. Can I stake ALGO using my hardware wallet?

   It is not possible to stake Algorand on Kraken using your hardware wallet. If you already have ALGO in a hardware wallet, you can easily transfer it to Kraken’s secure staking platform. 

6. How do I run a ALGO validator node?

   Running an Algorand validator node is a technically complex and costly process which requires a significant amount of resources. Because many feel the investment in running an Algorand node is too great, they often choose to stake their ALGO using an easy and secure service like Kraken.

7. What is the difference between on-chain and off-chain staking?

   While similar in name and design on our client interface, on-chain and off-chain staking are separate features. On-chain staking utilizes assets “On-chain” in Proof-of-Stake protocols such as Tezos. Off-chain staking utilizes assets “Off-chain” (as further described in our Terms of Service). You can view your eligibility for Off-chain staking here.