Does Exodus pay stakes? How to stake crypto

Yes, Exodus does pay stakes when you stake crypto!

This article will cover everything you need to know about staking crypto and how you can earn passive income inside of your Exodus wallet!


In this article:


How is it possible to make passive income with crypto?

One of the main ways to earn passive income from holding crypto is thanks to the Proof of Stake (PoS) consensus model. PoS is an alternative mechanism to the Proof of Work (PoW) model used by Bitcoin (BTC).

In a nutshell, a consensus mechanism is the process a blockchain uses to approve transactions, enforce its rules and security, and create more cryptocurrency.

The PoS model allows users to submit their crypto as collateral for participating in the consensus mechanism. Users can pool their resources together in order to validate transactions on the network. In return, they are rewarded in newly created crypto. This is essentially what you're doing when you stake your crypto.

Each PoS blockchain has its own rules and systems for how staking works; therefore, there will be some differences in how staking works for each asset.

In the section below, we'll break down how staking works for each staking asset Exodus supports.


How does staking work in Exodus?

Currently, the Exodus wallet supports staking for 7 different cryptocurrencies. As each crypto works a bit differently, we've outlined the key differences below:

Algorand (ALGO)
  • It should be noted that Algorand's staking model has been phased out by its developers and the new governance model is now the only way to earn ALGO rewards. Read more about it in our article on the subject.
  • There are four governance periods a year and they occur every three months. To sign up as an Algorand governor, you must commit ALGO during the registration window, which is usually the first two weeks of a governance period.
  • When you commit ALGO as an Algogrand governor, the funds are not locked up. However, if you send any part of the committed amount from your wallet during the governance period, you will not be eligible to receive a reward for that particular period.
  • You must vote in all voting sessions during a governance period to be eligible for rewards. If you miss voting in any initiative during the period, you will not be eligible to receive a reward for that particular governance period.
  • Governance rewards will be based on the wallet’s commitment to each Governance period. There are upper and lower bounds, but the total annualized reward rate for Governors should be around 10%. To read more about the rewards model, please see Decentralizing Algorand Governance Proposal.
  • Being an Algorand governor does not roll over to the next governance period. You must recommit ALGO for each governance period you wish to participate in.
  • Learn more about Algorand's Community Governance program from their official FAQ.
Cardano (ADA)
  • Rewards are paid out in ADA. You need at least 5.5 ADA to start staking to cover the 2 ADA deposit the Cardano network requires, the network transaction fee, and then the amount to start staking.
  • Cardano requires you to manually start staking. When you stake ADA, your Cardano address is staked. This means that your funds are never locked. You can use your Cardano wallet as you wish and will earn rewards based on the balance in the wallet at a given time. Just make sure to start staking your Cardano address!
  • When you submit your Cardano address for staking and whenever new funds are received at your staked address, it takes 20 days for the network to register your submission.
  • After that, rewards are accrued every 5 days. Accrued rewards are paid out 10 days after being earned.
  • From start to finish, it takes about 35 days from the time you stake your ADA to receive your first reward pay out. From there, rewards should be paid out every 5 days.
  • Cardano rewards automatically compound into your staked balance.
  • If you wish to claim your rewards, you'll need at least 1 ADA in rewards to initiate a claim. Note that the Cardano network charges a fee of 0.2 ADA each time you claim rewards. In order to keep transactions fees to a minimum, you can wait and claim your rewards in larger batches.
  • You can choose to unstake your Cardano address at any time and there is no fee to do so. There is no delay in regaining access to your funds and you will get your 2 ADA deposit back. If you choose to restake your address, you will need to go through the 20-day staking registration period again.
  • Learn more about Cardano (ADA) here.
Cosmos (ATOM)
  • Rewards are paid out in ATOM and you need a minimum of 0.05 ATOM to start staking.
  • ATOM staking needs to be manually initiated and the Cosmos network requires you to submit the amount of ATOM you want to stake. Staked ATOM is locked on the network and cannot be sent or exchanged while it is staking.
  • Each batch of ATOM submitted for staking will incur a network transaction fee.
  • Once you submit a batch of ATOM for staking, it will immediately begin to accrue and receive rewards every 7 seconds.
  • Your ATOM rewards will not automatically compound into your staked balance. They first need to be claimed before they can be submitted for staking.
  • You need at least 0.002 ATOM in rewards in order to claim your rewards. A network transaction fee is incurred whenever rewards are claimed. In order to keep transactions fees to a minimum, you can wait and claim your rewards in larger batches.
  • You can unstake your ATOM at any time and there is no fee to do so; however, it will take the Cosmos network 21 days to return the funds to your wallet before they can be sent or exchanged again.
  • Learn more about Cosmos (ATOM) here.
Ontology (ONT) & Ontology Gas (ONG)
  • Rewards are paid out in Ontology Gas (ONG) which is used to pay ONT transaction fees. You need a minimum of 1 ONT and 0.15 ONG to start staking.
  • Ontology requires you to manually submit the amount of ONT you want to stake. Staked ONT is locked on the network and cannot be sent or exchanged while it is staking.
  • Each batch of ONT submitted for staking will incur a network transaction fee.
  • Once you submit a batch of ONT for staking, it will need to be processed by the Ontology network before it will start accruing rewards. Due to the way the Ontology blockchain is designed and depending on network traffic, it can take anywhere from 16 hours to 41 days for the submitted ONT to start earning rewards. The large fluctuation depends on the speed and traffic of the Ontology blockchain. If traffic increases and block time slows down, it will take longer for your stake to be processed.
  • From start to finish, it can take anywhere from 32 hours to 61 days from the time you stake your ONT to receive your first reward pay out.
  • After your first reward pay out, rewards will accrue and be paid out every 16 hours to 20 days.
  • Your ONT rewards will not automatically compound into your staked balance. They first need to be claimed before they can be submitted for staking.
  • A combination of 2 network transaction fees is incurred whenever rewards are claimed. In order to keep transactions fees to a minimum, you can wait and claim your rewards in larger batches.
  • You can unstake your ONT at any time and there is no fee to do so; however, it will take the Ontology network 16 hours to 41 days to return the funds to your wallet before they can be sent or exchanged again.
  • Learn more about ONT and ONG here.
Solana (SOL)
  • Rewards are paid out in SOL and you need a minimum of 0.01 SOL to start staking.
  • The Solana network requires you to submit the amount of SOL you want to stake. Staked SOL is locked on the network and cannot be sent or exchanged while it is staking.
  • The first time you submit a batch of SOL for staking will incur a network transaction fee.
  • Each submitted batch of SOL for staking will need to go through a warm-up process on the Solana network before it will start accruing rewards. Due to the way the Solana blockchain is designed and depending on network traffic, it's difficult to pinpoint exactly how long this warm-up process takes, but 6-12 days is a good estimate.
  • Once your staked SOL has completed the warm-up phase it will accrue and pay out rewards every 2-4 days.
  • From start to finish, it can take anywhere from 8-16 days from the time you stake your SOL to receive your first reward pay out.
  • There is no need to claim SOL rewards as the Solana network automatically claims your rewards and adds them to your staked balance. If you want to withdraw the rewards to your wallet, however, the Solana network requires that you unstake your SOL in order to access your rewards.
  • Unstaking your SOL will incur a network transaction fee.
  • You can unstake your SOL at any time; however, it will need to go through a cool-down process before the Solana network can return the funds to your wallet. As with the warm-up process, the cool-down process timing is difficult to pinpoint, but 6-12 days is a good estimate.
  • Learn more about Solana (SOL) here.
Tezos (XTZ)
  • Rewards are paid out in XTZ and you need at least 1 XTZ to start staking.
  • Tezos requires you to manually start staking. When you stake XTZ, your whole Tezos address is staked. This means that your funds are never locked. You can use your Tezos wallet as you wish and will earn rewards based on the balance in the wallet at a given time. Just make sure to start staking your Tezos address!
  • A fee of 0.00284 XTZ is required as a fee when you submit your Tezos address for staking.
  • Also, be aware that there is an 8% operation fee that goes to the Tezos validator that runs the staking pool, which means you will only receive 92% of the generated rewards.
  • When you submit your Tezos address for staking and whenever new funds are received at your staked address, it takes 35 days for the network to register your submission.
  • After that, rewards are accrued and paid out every 3 days.
  • From start to finish, it takes about 38 days from the time you stake your XTZ to receive your first reward pay out.
  • The Tezos network automatically claims your rewards and adds them to your address—this does not charge a transaction fee.
  • You can choose to unstake your Tezos address at any time and there is no fee to do so. There is no delay in regaining access to your funds and rewards will continue to accrue for the next 35 days. If you choose to restake your address, you will need to go through the 35-day staking registration period again.
  • Learn more about Tezos (XTZ) here.
VeChain (VET) & Vethor (VTHO)
  • Any VeChain address with any amount of VET in it will automatically begin staking. Rewards are paid out in VTHO, the gas token.
  • There are no staking fees or reward claiming fees. The staking model is designed so that VET holders always have access to VTHO in order to pay their transaction fees.
  • Staking begins the moment VET is added to an address and rewards are accrued and paid out with every new block added to the VeChain blockchain. With each new block, VET holders will automatically receive 0.00000005 VTHO.
  • Learn more about VeChain (VET) and VeThor (VTHO) here.

What is the Rewards app and how do I install it?

Exodus now has a convenient way to keep track of all your assets that are generating you passive income! Let's review everything you need to know about the Rewards app.

To install, all you need to do is a) go to Settings then b) click on Apps and finally c) click install on Rewards.


How do I use the Rewards app?

First thing you will want to do is open the Rewards app that you have just installed. To do this all you need to do is click the Rewards app icon at the top of your Exodus wallet.

Inside of the Earn Rewards app you will see at the top your average APY, current balance that is earning rewards, and your current all time earnings:

As well as the Calculate Profit tool, the Reward History, and where to switch the view mode:

Underneath, you see a breakdown of your assets gaining interest and what the current APY is for the asset. Where available a Get Reward button will be there so you can claim your rewards.

Under the Type you will see how each reward process works:

  • Automatic: Earning and Claiming rewards are automatic just by holding this type of asset in your Exodus wallet.
  • Claim: Earning rewards is automatic just by holding this type of asset in your Exodus wallet. You will just need to manually claim your rewards.
  • Staking (auto): First you will need to choose to stake an amount of this asset then earning and claiming rewards are automatic after this time.
  • Staking (claim): First you will need to choose to stake an amount of this asset then earning rewards are automatic. You will just need to manually claim your rewards.

How can I calculate potential profit?

Inside the Rewards app you might have seen the Calculate Profit button in the top left. What this tool allows you to do is calculate your potential profit by setting your own values. You can set an amount you might like to stake using the Deposit Amount slider as well as the duration you will be staking using the Term in months slider.

You will see the Potential Profit on the right-hand side using the current APY of the asset.


How can I see my reward history?

If you want to find the transaction history of all your rewards, all you need to do is click on the history button in the top right corner.


Individual asset rewards

Each of the above cryptos has an Earn Rewards menu inside of their wallet within Exodus. To open the menu simply follow these steps:

Please note: We will be using Algorand for these examples however the steps will be the same with any of the above cryptos.

Desktop

1
Open the crypto of your choice that supports staking.
2
a) Click the three dots in the top right corner of the wallet. Then, b) click on Earn Rewards.

Mobile

1
Open the crypto of your choice that supports staking.
2
Tap on the Earn Rewards icon in the top right corner of the wallet.

Browser Extension

1

To see the rewards menu in the Exodus Browser Extension, open the wallet and go to the asset you are staking.

Please note: Currently, you can only stake Solana in the Exodus Browser Extension.

2
Tap on the Earn Rewards icon in the top right corner of the wallet.


What is Compound Finance?

An extra way to make some passive income is Compound Finance. Compound Finance is a protocol built on the Ethereum blockchain that allows a user to lend their Ethereum assets to a pool of assets.

Once you have lent your asset to the Compound Finance protocol, you accrue interest every time an Ethereum block is mined. You are also free to withdraw your assets whenever you choose, giving you the freedom to lend and withdraw earnings as you wish.

While this isn’t the same as the above staking crypto, it is definitely another easy way Exodus allows you to earn passive income!

Please learn more about Compound Finance here.

Please note: To start using Compound Finance you first to make sure you are using the new App Navigation.