Why stake MATIC with Kraken?

STAKING CRYPTO

Earn up to 21%* on your crypto

FAQ

Polygon staking FAQ:

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

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

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

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

    

3. Can I convert MATIC to USD?

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

5. Can I stake MATIC using my hardware wallet?

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

6. How do I run a Polygon validator node?

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