Tezos: How do I stake XTZ on Kukai Wallet?

September 26, 2023

You are a user of the Kukai wallet and want to know how to practice XTZ staking on Tezos? Perfect, then this guide is for you! We will walk you through in detail how to delegate your XTZ and receive a reward in return. Let's get started, Racers!

Kukai Wallet and Staking on Tezos

Before diving into the details, let's set the stage together. Tezos is an infrastructure blockchain that enables the operation of smart contracts and decentralized applications. It operates on a mechanism derived from Proof of Stake (PoS) and requires validators (stakers) to function. Validators lock XTZ in the network and are rewarded for this activity.

Currently, there are two types of stakers on Tezos. If you have 6,000 XTZ, you can join the "bakers" by creating your own validation node. Alternatively, you can become a "delegator" by entrusting your staking rights to a baker. Most wallets compatible with Tezos allow you to do this easily with a few clicks, including Kukai Wallet!

📎 Don't miss our comprehensive guide on XTZ staking on Tezos.

Tutorial: XTZ Staking on Kukai

Create a Kukai wallet

The first important step is, of course, creating a Kukai wallet. You have two options: either follow the traditional method, create a wallet, and instantly receive the seed phrase, or sign up through your social networks with just one click. We've got you covered: the entire procedure is detailed in our article explaining how to create a Tezos wallet on Kukai.

Deposit XTZ into Kukai

Next, it is essential to have XTZ in your Kukai wallet. You can either buy them directly on the wallet interface or send them from a centralized exchange platform.

For the first method, click "GET" next to Tezos in the left box on your screen. The window that opens offers several options, including Transak or Moonpay.

Choose one of them: you will be redirected to their website where you need to enter the amount in euros you want to convert to XTZ. Choose the payment method: credit card or bank transfer and proceed with the transaction. Note that for the first case, the operation is instant, while it may take a few days for the second case.

For the second method, you need to send cryptos from a centralized exchange platform to your Kukai wallet. To do this, click the green-framed button below. This will allow you to copy your wallet's address.

Then, go to your preferred exchange (Binance, Coinbase, Kraken, etc.) and select your XTZ, then request to withdraw them. In the address tab, paste your wallet's address (previously copied on Kukai) and enter the amount to send. Voila, you should receive your XTZ within a few minutes.

Delegate your XTZ

Your wallet is now loaded with XTZ, so let's get down to business. As you can see on the homepage, your status is currently set to "Not Staked" (see the image above). To correct this, click on this red text.

The page that appears offers a list of bakers that you can select along with their characteristics: fees, rewards, free space, etc. You can also visit TkZT.io for more information on bakers and make the right choice. To make your choice, feel free to check online reviews. Also, be vigilant about the fees: they range from 5 to 15% of your rewards. As a reference, Everstake is the top baker on Tezos even though it applies a 15% fee.

Copy the address displayed under the baker's name and return to your Kukai wallet. Click "Enter Custom Baker" and paste the address. Then click "Stake" and leave the characteristics unchanged in the menu. You just need to enter your password and confirm the transaction.

There you go, your XTZ is staked with a validator and will start earning you income in 23 days. In the "Recent Activity" section, you will see that the last delegation transaction has been confirmed, and the status under your address bar has become "Staking: Everstake."

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