What are the different ways to stake Orderly Network (ORDER) coins?

Staking ORDER tokens through Orderly Swoop offers high returns and user-friendly staking options, with no lock-up period for added flexibility.

Jan 05, 2025 at 10:02 am

Key Points:

• Ways to stake ORDER coins: Staking through Orderly Swoop, Staking through Coinbase

Ways to Stake Orderly Network (ORDER) Coins

1. Staking through Orderly Swoop

Steps:

• Create a Swoop wallet.
• Transfer ORDER tokens to your Swoop wallet.
• Navigate to the "Staking" tab within the Swoop wallet.
• Select the "Stake" button.
• Choose the amount of ORDER tokens you wish to stake.
• Confirm the transaction by signing the message in your wallet.

Benefits:

• High returns: Swoop offers competitive staking rewards, with annual percentage yields (APYs) typically ranging from 5% to 10%.
• Ease of use: The Swoop wallet provides a user-friendly interface for staking and managing your rewards.
• No lock-up period: You can unstake your ORDER tokens at any time without penalty.

2. Staking through Coinbase

Steps:

• Create a Coinbase account.
• Purchase or transfer ORDER tokens to your Coinbase wallet.
• Navigate to the "Earn" section within the Coinbase website or mobile app.
• Select "Orderly Network (ORDER)" from the list of available staking assets.
• Choose the amount of ORDER tokens you wish to stake.
• Confirm the transaction by following the on-screen instructions.

Benefits:

• Convenience: Coinbase is a reputable and widely used cryptocurrency exchange, making it a convenient option for staking.
• Insurance coverage: Coinbase provides insurance coverage for digital assets held on its platform, providing an additional layer of protection.
• Automated staking: Coinbase automatically stakes your ORDER tokens, eliminating the need for manual setup or management.

FAQs

1. What is the minimum amount of ORDER tokens required to stake?

• Swoop: The minimum staking amount varies depending on the validator you choose.
• Coinbase: The minimum staking amount is 10 ORDER tokens.

2. Can I stake ORDER tokens in a hardware wallet?

• Yes, you can stake ORDER tokens in a hardware wallet using the Orderly Swoop wallet.

3. How often are staking rewards distributed?

• Swoop: Staking rewards are distributed weekly.
• Coinbase: Staking rewards are distributed daily.

4. Are there any fees for staking ORDER tokens?

• Swoop: There are no fees associated with staking ORDER tokens through Swoop.
• Coinbase: Coinbase charges a small transaction fee for staking ORDER tokens.

5. Can I unstake my ORDER tokens at any time?

• Swoop: Yes, you can unstake your ORDER tokens at any time without penalty.
• Coinbase: You need to wait for the unstaking period to end before you can withdraw your ORDER tokens.