Why stake KSM with Kraken?

STAKING CRYPTO

Earn up to 21%* on your crypto

FAQ

Kusama staking FAQ:

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

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

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

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

3. Can I convert KSM to USD?

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

5. Can I stake KSM using my hardware wallet?

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

6. How do I run a Kusama validator node?
    

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