Staking Cosmos ATOM

[NIrish]

I currently stake my ATOM on exchange with Kraken but am feeling wary about keeping crypto on exchanges.

Is it possible to self custody and still stake ATOM?

[_act_]

You can stake it on Keplr wallet or on Trust wallet. I will advice you to use Keplr wallet for it.

[FP91G]

I currently stake my ATOM on exchange with Kraken but am feeling wary about keeping crypto on exchanges.

Is it possible to self custody and still stake ATOM?

STAKING COSMOS (ATOM) IN LEDGER LIVE
https://support.ledger.com/hc/en-us/articles/360014339340-Staking-Cosmos-ATOM-in-Ledger-Live?support=true
Earn Cosmos delegating rewards by delegating your ATOM to validators in Ledger Live. By doing so, you earn Cosmos delegating rewards while benefiting from the security of your Ledger hardware wallet.

It's safer.

[cryptoaddictchie]

I currently stake my ATOM on exchange with Kraken but am feeling wary about keeping crypto on exchanges.

Is it possible to self custody and still stake ATOM?

Yes there are a lot of delegators on a noncustodial validators. I think you must transfer on a non cex since you could benefit on airdrops as well aside from the cex which doesnt benefit you but I think the APR is also same with staking on your own wallet. Ive been delegating on validator and got some free airdrops but of course it has also a lock of 21 days.

[livingfree]

I currently stake my ATOM on exchange with Kraken but am feeling wary about keeping crypto on exchanges.

Is it possible to self custody and still stake ATOM?

STAKING COSMOS (ATOM) IN LEDGER LIVE
https://support.ledger.com/hc/en-us/articles/360014339340-Staking-Cosmos-ATOM-in-Ledger-Live?support=true
Earn Cosmos delegating rewards by delegating your ATOM to validators in Ledger Live. By doing so, you earn Cosmos delegating rewards while benefiting from the security of your Ledger hardware wallet.

It's safer.

I'll prefer this.

@OP, if you own a ledger wallet then that's easier because it's the first requirement that you need for you to stake ATOM through Ledger live. While some desktop and multicurrency wallets are also supporting it.

I'll choose to get it on a Ledger live because you hold its custody and you'll have no worry at all because it is on your possession.

[NIrish]

Thanks for the replies, I'm still a complete newbie to the Crypto scene and haven't investigated cold storage wallets yet.

In all honesty my limited holdings are still on KuCoin and Kraken so I've opened a Coinbase Hot Wallet which I intend to move some of my holdings too.  Also considering Trust Wallet for diversification of funds!

Still nervous about moving funds around and getting it wrong but must bite the bullet.

Didn't know if I would be able to stake once I'd taken it out of the exchanges so good to know that is still an option from within the wallets!

[yhiaali3]

Yes, I was also using AtomicWallet for staking Cosmos ATOM, a very good decentralized wallet, with various coins and the possibility of staking multiple coins.

[FP91G]

Thanks for the replies, I'm still a complete newbie to the Crypto scene and haven't investigated cold storage wallets yet.

In all honesty my limited holdings are still on KuCoin and Kraken so I've opened a Coinbase Hot Wallet which I intend to move some of my holdings too.  Also considering Trust Wallet for diversification of funds!

Still nervous about moving funds around and getting it wrong but must bite the bullet.

Didn't know if I would be able to stake once I'd taken it out of the exchanges so good to know that is still an option from within the wallets!

Before investing, it is better to study hardware wallets first. You will spend no more than a few hours studying the operation and setting up a hardware wallet. A trader needs exchanges, but why do you need them if storing coins on exchanges is not safe today?
Make the first transaction from the exchange to a $50 hardware wallet.

[livingfree]

Thanks for the replies, I'm still a complete newbie to the Crypto scene and haven't investigated cold storage wallets yet.

In all honesty my limited holdings are still on KuCoin and Kraken so I've opened a Coinbase Hot Wallet which I intend to move some of my holdings too.  Also considering Trust Wallet for diversification of funds!

Still nervous about moving funds around and getting it wrong but must bite the bullet.

Didn't know if I would be able to stake once I'd taken it out of the exchanges so good to know that is still an option from within the wallets!

Don't get nervous when you try to move your funds. Just check the address properly where you'll be sending them. Don't just check the first and last characters but check the entire address where you're about to send your funds.

It seems that you've been keeping it on those exchanges for sometime now. It's better to just do anything that you can to get out your funds there and let the next thing come about staking.

That should be your priority now, to withdraw your funds out of those exchanges. And upon holding for long term, hardware wallets are always the best choice.

[merekamo]

In my opinion, there are a few ways to go about self-custodying your ATOM. One option is to use a hardware wallet, such as a Ledger or Trezor, to store your ATOM. You can then connect your hardware wallet to a staking service, such as Cosmostation or Lunie, to stake your ATOM and earn rewards.

In another option is to run your own validator node and delegate your ATOM to yourself. This requires a bit more technical knowledge and set-up, but can provide even greater control and security over your staked assets.

[dansus021]

the initial staking or regular staking is happen outside the exchange but it is very convenient to do stake on exchange. You can find more info about cosmos staking on their official website https://cosmos.network/learn/staking/

The benefit if you stake outside exchange is you can actually can choose the right validator that suits you it can lead to a better APY