how to stake tron

How to Stake Tron (TRX)

Staking is becoming a hotter topic in 2020, and today we will show you how to stake Tron using TronWallet Play on the computer or smartphone.

UPDATE:

The latest version of Ledger Live allows the staking of Tron and withdrawal of staking rewards without using a third-party Tron wallet such as TronWallet Play discussed in this article. To learn how to use Ledger Live to stake Tron, go to Staking Tron with Ledger Live at the bottom of this page.

If you are using the TronWallet Play on the desktop or smartphone, read on.

For this article, we will be staking Tron (TRX) using the TronWallet Play for Mac OS X (which you can run on an iMac or MacBook) connected to a Ledger Nano S.

The following assumptions are made:

  • you already know what Tron is, as we will not be discussing about this cryptocurrency in this article.
  • you already own Tron, or know how to buy it from an exchange like Binance.
  • you know how to withdraw or transfer cryptocurrencies from one address to another.
  • you know the basic operations of your hardware wallet.

You will also need to ensure that your Ledger hardware wallet is updated to the latest firmware. This is done via Ledger Live desktop app.

Note that a Ledger hardware wallet is not compulsory in the procedure below. If you are using TronWallet Play without a hardware wallet, your TronWallet password will be used to confirm actions in lieu of button presses on the hardware wallet. However, we would highly recommend using a Ledger hardware wallet for better security and a more convenient way to access TronWallet.
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Ledger hardware wallet
 

Installing and Setting Up TronWallet Play

  1. Download and install the latest version of TronWallet Play from github.com. The version used in this article is v.1.1.18.
  2. Follow the instructions to set up as a new wallet, OR set it up with your hardware wallet. In this article, we are using the TronWallet connected to a Ledger Nano S as an example.
  3. Once you have fully set up your TronWallet, send some Tron (TRX) into this wallet. You can purchase Tron from exchanges such as Binance and Bittrex.

If you wish to use the TronWallet for iOS and Android, you may download the wallet directly by clicking one of the two buttons below on your smartphone, or do a search for TronWallet on the App Store or Google Play on your smartphone.

tronwallet iphonetronwallet android

 

The download page on the App Store appears as follows. Observe for the correct app icon on your iPhone as shown below. Check for the same details on Google Play if you are using an Android device.

tronwallet app store

 

For brevity, the staking process on the smartphone will not be shown below. You may use the cues and steps for the desktop version below and apply on the smartphone.

A. Begin Staking Tron on TronWallet Play

how to stake tron
A1. Start by depositing some TRX into your TronWallet. This could be from an exchange or from another wallet. As seen here, there is a total of 20,781.3 TRX in the Balance.
how to stake tron
A2. To begin staking, click on the FREEZE button.
how to stake tron
A3. On the pop-up window, enter the amount you would like to stake. The amount 20,500 TRX is keyed in above. You can also select by percentage of your holding in increments of 25%. Click the FREEZE button.
how to stake tron
A4. Connect and launch the TRX wallet on your Ledger hardware wallet if you haven’t already done so, and follow the instructions on the screen of your hardware wallet.
NOTE: If you are not using a hardware wallet, ignore the hardware wallet instructions below. Instead, follow the instructions on the screen and use your TronWallet password and continue from Step A12 below.
how to stake tron
A5. In the TRX Wallet on your Ledger, scroll to and go into Settings, and if the Transaction Data shown is NOT Allowed, click both buttons…
how to stake tron
A6. …to allow it.
how to stake tron
A7. When Review freeze is shown on the Ledger, press the right button to cycle through the information…
how to stake tron
A8. …to verify that the amount is correct…
how to stake tron
A9. …and that the delegated Freeze to address (i.e. your TronWallet Play address) is correct.
how to stake tron
A10. Press the right button until the end of the Freeze to address, and press the right button one more time…
how to stake tron
A11. …to reach the confirmation screen. Press both buttons to Accept and send.
how to stake tron
A12. On the main window now, you will see the amount staked shown under Frozen, and the confirmation status of the transaction shown in the panel below. We are not quite done yet.
how to stake tron
A13. Next, click on Votes.
how to stake tron
A14. Select one of the Super Representatives (SR) in the list, and key in the amount of TRX you would like to delegate to that pool. Note that 1 TRX = 1 vote and you can delegate up to 5 pools simultaneously. Here, the amount of 20,500 TRX was delegated to Binance Staking.
NOTE: You may refer to the rewards calculator and records of the Super Representatives listed at https://www.tokengoodies.com/voterrewards. Remember to key in your actual vote quantity near the top right of the screen to get a more accurate calculation.
how to stake tron
A15. The amount delegated appears next to the SR name. Click Submit Vote.
how to stake tron
A16. Refer to your Ledger hardware wallet and confirm the submission of votes by pressing both buttons.
how to stake tron
A17. A notification appears to inform that the Votes have been submitted successfully.
how to stake tron
A18. The Vote is confirmed after a short while.
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B. Withdrawing Staking Rewards

Note that you can only withdraw rewards once every 24 hours.

how to withdraw staking rewards
B1. To withdraw rewards, click on Votes.
how to withdraw staking rewards
B2. The amount of claimable rewards appear as shown above, i.e. 4.18211 TRX.
how to withdraw staking rewards
B3. If you hover your mouse pointer over the Withdraw button, you will see a notification that “You can only withdraw once in 24h” followed by the time remaining before you can withdraw. Click on Withdraw.
how to withdraw staking rewards
B4. Check your Ledger hardware wallet and press both buttons to confirm the withdrawal of rewards.
how to withdraw staking rewards
B5. A notification appears to inform that the request to withdraw rewards has been submitted successfully.
how to withdraw staking rewards
B6. The Rewards Withdraw status is confirmed after a short while. A new balance is now shown i.e. 285.479 TRX. Click Refresh (located next to the word Dashboard) if required. Remember to withdraw your subsequent rewards in the next 24 hours.
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Staking Rewards = Passive Income

The above procedure shows how earning recurring rewards can be easily achieved with Tron (TRX) using the TronWallet Play and a Ledger hardware wallet.

Just to verify that expectations and calculations are correct, the reward of 4.18 TRX equates to (4.18 x 365)/20,500 x 100% = 7.4% per annum. This tallies with the estimated 7 – 9% APR returns for Tron staking. Note that the daily reward varies by the day and is not a fixed figure.

Reminder: The procedure above doesn’t require a hardware wallet, and can be done by keying in your TronWallet password in lieu of the hardware wallet button presses.

You can also do the same with the TronWallet on your iOS and Android devices.

Now, you may be thinking that since it is also possible to stake your Tron on an exchange like Binance, why stake on your own then? Well, when you stake using your own wallet, your TRX resides with your private keys, and this becomes even more secure when a hardware wallet is used. You remove the risks associated with leaving large quantities of crypto assets at the exchange.

Staking Tron with Ledger Live

UPDATE: If you are using the Ledger Nano S to store your Tron, you can use Ledger’s desktop app (Ledger Live) to do your staking and withdraw your staking rewards (without using a third-party wallet like TronWallet Play. See Earn Tron Staking Rewards with Ledger, or watch the video below:

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Ledger Nano X - The secure hardware wallet
Ledger Nano X - The secure hardware wallet