Solana, the 5th biggest cryptocurrency in the world (at the time of writing), has excellent staking features that allow you to safely grow your SOL portfolio and also earn some passive income while you’re at it.
Keep reading this guide by Stake Shark if you’d like to learn how to stake Solana on Trust Wallet and earn 7.41% per year.
How to stake Solana (SOL)?
What is Solana Staking?
Solana uses a consensus mechanism called Proof of Stake (PoS) which is used to secure the blockchain by verifying transactions between distributed ledgers across the network. The consensus mechanism on the Solana chain is run by validators (such as Stake Shark) to improve network security and efficiency while generating network rewards for “stakers”.
“Stakers” are individuals or entities that delegate (or lock-up) their Solana via a validator to support the blockchain’s PoS mechanism. In return, stakers earn interest — known as staking rewards or staking profits — on the total amount of SOL tokens they delegate to a validator.
If you own SOL tokens and want to grow your assets, staking is the safest way to earn passive income and even compound interest on your staked Solana balance.
Stake SOL on Trust Wallet in 3 Steps
Before you get started, you need to have Trust Wallet set up on your mobile device or as a browser extension on your computer. If you don’t have it yet, click here to download Trust Wallet.
Step 1: Set up Your Trust Wallet
After downloading Trust Wallet, launch the app on your mobile device or via browser extension and then:
- On the homescreen, select Create a new wallet
- Back up your secret phrase (recommended) or press **Skip **to do it later
- Tap Start using Trust Wallet
Step 2: Add Solana to your Trust Wallet
You must have Solana in your wallet to use it for staking (skip this step if you already have SOL in your Trust Wallet). If you don’t have SOL, you can either transfer it to your Trust Wallet or buy it.
To transfer from another wallet or exchange:
- Go to your Trust Wallet homescreen
- Select Receive
- Find and select Solana (SOL)
- Transfer to the wallet address as shown on Trust Wallet
To buy SOL on Trust Wallet:
- Go to your Trust Wallet homescreen
- Select Buy
- Find and select Solana (SOL)
- Select an amount you wish to buy
- Pick a provider and payment method
- Select Buy SOL
Step 3: Stake SOL on Trust Wallet
The process of staking is very simple. Simply:
- Go to your Trust Wallet homescreen
- Select Earn
- Find and select Solana (SOL)
- Select Stake
- Set an amount you wish to stake
- Select Validators to open the dropdown
- Pick Stake Shark** to earn an APR of 7.41%**
- Select Continue and follow the rest of the instructions
Trust Wallet SOL Staking FAQ
Where can I find a Solana staking calculator?
You can easily calculate your Solana earnings before you stake by using our Solana staking calculator.
Simply enter the amount of SOL that you plan on staking in the calculator and it will show you daily, monthly, and yearly profits as well as the $USD value of your investment.
Can you stake Solana on Trust Wallet?
Yes, you absolutely can!
In fact, staking Solana with Trust Wallet is a lot easier than most other alternatives. All it takes is 3 steps and a few button taps to delegate your SOL to a validator and start earning staking rewards on Trust Wallet.
How much Solana to stake on Trust Wallet?
There’s no minimum amount required to stake SOL on Trust Wallet which means you can start with any amount you like.
The general rule of thumb is to calculate your earnings in advance using a Solana staking calculator. Depending on the size of your SOL holdings, you can calculate your target earnings and stake an amount that brings you staking profits according to your income goals.
What’s the minimum Solana to stake on Trust Wallet?
There’s no minimum amount for staking SOL on Trust Wallet via the Stake Shark validator. You can start with as little as 0.1 SOL.
Is it safe to stake Solana on Trust Wallet?
Trust Wallet only helps you delegate your tokens to a validator node. To determine whether or not a validator is safe for staking, you should look at their history and total staked balance. Validators that have a huge number of users and staked balance (in various tokens) are generally safe.
Stake Shark is trusted by over 236,000 users and has a total staked balance of Solana worth over $20,000,000 (at the time of writing). This makes us one of the safest and most reliable validators available in the crypto market.
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