This article explains how to withdraw ATOM tokens from your favored Exhange and stake them. There are many ways to do this, we recommend the Keplr wallet, or a Ledger hardware wallet.
Atom Token
Atom is a digital asset (crypto) that can be locked up for a reward in more Atom tokens over time. ATOM much like Ethereum is used for fees on the Cosmos network, the more activity on the Network, the more ATOM tokens are in demand. ATOM also reduces its available supply for trade when users stake the token. ATOM has a 21 day unbonding period for stakers, this means that the token will be locked for at least 21 days when a user wishes to unstake. This process prevents users from staking and exiting positions too quickly.
Keplr Wallet
The main reason I prefer the Keplr wallet is because it offers access to many chains and on/off ramps. For instance, if a user wants to get onto the Evmos blockchain they can head right over with just a few steps. The most important integrations for me personally are the Cosmos Hub (used for ATOM), Osmosis, and Juno. The Keplr wallet allows users to stake ATOM on the Cosmos hub we about 18% APY currently. Users can also interact with the list of blockchains provided on their website. https://www.keplr.app/
The first step is to buy some ATOM tokens on your favorite exchange. For American users Coinbase PRO is a likely step, or Binance US. Once the funds have cleared you will want to send them to your Keplr wallet address on the Cosmos Hub section. Always remember to triple check your withdraw addresses or whitelist them. Whitelisting saves your commonly used addresses, helping avoid potential errors. Once you are on the Hub, click stake ATM tokens. Follow the directions, it will ask you to confirm a few transactions. Do remember to leave some ATOM in your wallet for the fees of the blockchain network. At these lower prices I like to leave a full ATOM in the wallet for fees. There you have it, it is that easy to stake ATOM on Keplr.
Just remember to keep your passphrases safe and store duplicates in multiple locations. Never put your passphrases online or in any digital form. I prefer to store them in multiple houses locked in a safe. Some users with larger portfolios may also benefit from a lockbox at a bank. ATOM can also be cold staked which is the safest option. Check out this article from Ledger below if that interests you.
