Written by Jeremy Fletcher | January, 20 2023
Staking HBAR on Wallawallet
How easy is it to stake Hedera™ HBAR with Wallawallet? All it takes is a click and a swipe to help the Hedera Network stay secure, and get rewarded for it every day! And unlike other cryptocurrencies or riskier smart contract-based staking, with Hedera native HBAR staking your funds are never locked up so you are always in complete control.
Click Wallawallet’s Collect Rewards button often because every time you click and swipe, you are compounding your rewards.
The Hedera public ledger is the fastest, greenest and most secure blockchain technology, governed by leading corporations from all over the world. Companies like Google, IBM, Boeing, LG Electronics, and some of the biggest banks in the world are leading Hedera.
* Graphs depicted above assume a constant rewards rate of 6.5% APY compounded monthly and a period of 5 years in addition to HBAR price projections indicated along the x-axis. To compound your rewards frequently, you must click the Collect Rewards button.
Getting Started
The video on staking is a good walkthrough of staking HBAR on Wallawallet. In general, the steps are:
- Buy some HBAR with Wallawallet or restore your wallet/account using Wallawallet.
- Stake your Hedera account to a Hedera node using Wallawallet.
- Collect your staking rewards!
Yes you can! Simply set up another account in Wallawallet with enough HBAR in it to trigger the collect rewards for your other account regularly. When you click on the Staking icon, just click on the downward-pointing chevron icon to the right of the account id to reveal a selection list of account ids and add the account id associated with your hardware wallet to that list by typing it in the text input box and clicking the plus icon to the right. Now, whenever you want to trigger staking rewards for that account, select that account from this list and collect the rewards! The only time this won’t work is if your target account is configured not to receive payments from the sender account or there is not enough HBAR in the triggering account to pay the fees.
With Hedera, you can indirectly stake HBAR to a node by staking HBAR to another account which then stakes to a node. Given that you can due this with numerous accounts (but only one level of indirection), you may be interested at some point to know how much HBAR is staked to your account that directly stakes to a node. To see this, you can use the paid query “Current Info” button on the Hedera Staking screen. This will not include the HBAR that is in your directly staked account, but will show you the amount of HBAR from all the other accounts staked to it.