How to stake crypto tokens through a Phantom wallet?

Posted 2022-06-17 10:50:33

We all know that we need a cryptocurrency wallet that helps us in interacting with our preferred blockchain so that we can get a deal with our preferred crypto token. And those users who wish to deal with crypto tokens through the Solana blockchain often end up using the Phantom wallet. Well, the question is why?

It is because the Phantom wallet is specifically designed for those traders who are only interested in Solana-supported tokens. Therefore, if you are one such user, then Solana is the right blockchain for you. As soon as you set up your wallet, you can start sending, buying, and staking SOL through it.

And, the best thing about this wallet is that you do not have to be anxious about the safety of your funds. The wallet is highly considerate about the security of your funds and ensures that nobody else gains access to the private keys that you have stored on it. Now, moving on to the topic of our concern, it is important that you understand how to stake crypto tokens through it.

Staking cryptos on the Phantom wallet

Since Phantom wallet only supports staking SOL tokens, therefore we will guide you on how to stake SOL through it:

The first thing that you need to be assured of is that you have created a Phantom wallet
After this, you should start depositing some SOL into your wallet
Once you have deposited enough SOL in your wallet, you can start to stake them
Next up, you can go to the balance section of your wallet
Here, you can click on the "Start earning SOL" option
The next screen will present you with a list of validators to choose from
Choose the validator you want to stake tokens with
Now, you can choose a preferred staking amount
Select the "Stake" option after reviewing the details

Conclusion:

Wondering how to stake crypto tokens through a Phantom wallet? Well, it is very simple to stake crypto tokens through this wallet. The simple step-by-step guide that we have given above can be relied upon for learning the correct procedure. In case you do not know how to set up a new wallet or deposit SOL into it, then you should first refer to the articles that support these topics.