Why stake MINA with Kraken?

STAKING CRYPTO

Earn up to 21%* on your crypto

FAQ

Mina staking FAQ:

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

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

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

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

3. Can I convert MINA to USD?

   You can easily convert MINA to USD by taking the price of Mina multiplied by the number of MINA coins you hold. See our Mina 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 Mina, MINA tokens are staked in order to make network validators eligible to verify transactions and incentivize their honest behavior. The amount of MINA 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 Mina are rewarded with MINA tokens.

5. Can I stake MINA using my hardware wallet?

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

6. How do I run a Mina validator node?
    

   Running a Mina validator node is a technically complex and costly process which requires a significant amount of resources. Because many feel the investment in running a Mina node is too great, they often choose to stake their MINA 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.