How to Stake Cosmos (ATOM) on Gem Wallet in Just 3 Steps
Cosmos (ATOM) is known for its interoperable blockchain ecosystem, designed to enable communication between different blockchains. Staking ATOM allows holders to secure the network while earning passive rewards. If you're looking to stake Cosmos on Gem Wallet, this Stake Shark staking guide will walk you through the process in three simple steps.
Keep reading if you’d like to learn how to stake Cosmos (ATOM) on Gem Wallet and earn 15% APR in staking rewards with Stake Shark.
What is Cosmos Staking?
Cosmos staking involves delegating your ATOM tokens to a validator that participates in securing the network and validating transactions. In return, you earn staking rewards, which are paid out in ATOM. This is a secure and sustainable way to increase your ATOM holdings while supporting the decentralization of the Cosmos network.
Stake ATOM on Gem Wallet in 3 Steps
Gem Wallet is an open source non-custodial wallet that supports staking for several cryptocurrencies, including Cosmos (ATOM). Follow these steps to stake ATOM on Gem Wallet.
Step 1: Set up Your Gem Wallet
If you haven’t set up Gem Wallet yet, follow these instructions:
1. Download Gem Wallet from the App Store (iOS) or Google Play Store (Android).
2. Open the app and create a new wallet by following the prompts.
3. Securely back up your seed phrase. This 12-word recovery phrase is essential for accessing your wallet if your device is lost or compromised.
With your Gem Wallet ready, you can move on to the next step.
Step 2: Add Cosmos (ATOM) to Your Gem Wallet
You’ll need to ensure that your wallet is funded with ATOM tokens before you can stake:
Open Gem Wallet.
Search for "Cosmos" or "ATOM" and select it from the list.
Select "Receive"
Copy your ATOM deposit address.
Transfer ATOM from an exchange or another wallet to this address.
Once your ATOM tokens arrive in your Gem Wallet, you're ready to stake.
Important: if you don’t have Cosmos tokens or want to stake more, you can buy ATOM directly in Gem Wallet app via built-in swap and fiat on-ramp.
Step 3: Stake ATOM on Gem Wallet
With ATOM in your wallet, you can now stake it to earn rewards:
1. Select Cosmos (ATOM) from your wallet.
2. Tap Stake.
3. You’ll see Stake Shark as a recommended validator.
4. Choose the amount of ATOM you want to stake, review our validator details, and confirm your delegation to Stake Shark.
Your ATOM will now be staked, and you’ll start earning rewards as soon as the delegation is confirmed.
You can use tools like the Staking Rewards Cosmos Calculator or Cosmostation. These platforms allow you to calculate potential rewards based on the amount of ATOM staked, the validator’s commission, and the network’s current yield.
Can you stake Cosmos on Gem Wallet?
Yes, Gem Wallet fully supports Cosmos (ATOM) staking. You can delegate your ATOM to a validator and earn rewards directly from within the app.
How much Cosmos to stake on Gem Wallet?
You can stake as much ATOM as you want on Gem Wallet. The more you stake, the higher your potential rewards, especially as rewards are compounded over time.
What’s the minimum Cosmos to stake on Gem Wallet?
The minimum amount to stake ATOM with Stake Shark validator is 1 ATOM, but it’s always a good idea to have a little extra ATOM available to cover transaction fees.
Is it safe to stake Cosmos on Gem Wallet?
Yes, Gem Wallet is a non-custodial wallet, meaning you have full control over your private keys and funds. However, make sure to choose a reliable validator to avoid potential issues like slashing, although this is rare on the Cosmos network.
How long does it take to stake Cosmos on Gem Wallet?
Once you’ve staked your ATOM, it may take some time (usually within a few minutes to an hour) for your delegation to go through, but you will start earning rewards after the next epoch begins. Epochs on Cosmos generally last 24 hours.
Conclusion
Staking Cosmos (ATOM) on Gem Wallet is a quick and easy process that requires only a few steps. Once you set up your Gem Wallet, fund it with ATOM, and stake your tokens, you’ll be able to passively earn staking rewards while helping to secure the Cosmos network.
However, it’s important to understand that Gem Wallet is not actually responsible for generating rewards for you or delegating your tokens for staking. Gem Wallet is simply an intermediary that facilitates the staking of your tokens on a validator node. Validators like Stake Shark are responsible for safeguarding your assets and enhancing the network security of the entire Cosmos blockchain.
Furthermore, validators generate rewards for your contribution and ensure that these rewards are delivered to your staked balance, earning you compound interest in the long run.
The author:
Sarmad Sameer
Sarmad Sameer has been immersed in the blockchain world since 2017, bringing a wealth of knowledge and insight to his writing. He joined the Stake Shark team in 2021, initially focusing on blockchain technology and DeFi. Over the years, Sarmad has broadened his expertise to include the crypto staking industry, becoming a key voice in the industry. When he's not delving into the latest blockchain innovations, Sarmad enjoys riding his motorcycle and traveling the world.
