How to stake with Starship (SHIP)

Staking is an elementary aspect of the Cardano blockchain, offering rewards for supporting the network. When staking your ADA, you delegate your tokens to a stake pool, which validates and confirms network transactions. Here are the steps to stake your ADA:

  • Create a wallet: If you are new to Cardano, the first step is to create a wallet to hold your ADA. You can use any Cardano wallet that supports staking, such as Eternl or Lace.

  • Purchase ADA: Purchase it from a cryptocurrency exchange.

  • Delegate your ADA: Navigate to the staking section of your wallet and select delegate. Search for SHIP, select the pool and confirm the transaction.

  • Earn rewards: By delegating, you will earn rewards (new ADA). The SHIP's historical performance can be seen here.

That's all! Staking your ADA on the Cardano blockchain is a straightforward process that enables you to earn rewards while contributing to the network's stability. Your ADA remains accessible at all times, allowing you to utilise them whenever you wish.