How to stake Cardano in Canada

Bitbuy makes it easy for Canadians to stake Cardano and start earning crypto rewards in Canada

Take Your ADA to the Next Level by Earning Staking Rewards

Earn up to 2.25% in Cardano (ADA) staking rewards on Bitbuy by staking all or some of your holdings in a stable and regulated environment. Enjoy a passive income paid to you every 5 days.

Cardano (ADA)
Earn 2.25% Yearly
Minimum
1 ADA
Payout period
Every 5 days
Bonding period
25 days
Unbonding period
Instant

*Please note that bonding/unbonding periods are subject to change based on the requirements of each network..
Note: The reward rate posted here is an estimation, and may be updated on a monthly basis.

Calculate my rewards

Earn Passive Income with ADA Staking Rewards

By staking your ADA assets, you can receive up to 2.25% in passive income and watch your holdings grow by locking in your cryptocurrency for any length you want. How does it work? Your earnings from staking rewards are issued every 5 days, and each encrypted transaction is secure using SSL technology and two-factor authentication. This high level of security gives you peace of mind that your assets are protected. Ultimately, Bitbuy offers its clients some of the best staking reward rates in Canada today, meaning that more of your money is allocated directly to you! Check out our handy calculator to see how much you can earn here.

Bitbuy Makes Staking Cardano Crypto Simple

With ADA staking, you can take comfort in the fact that the entire process is smooth, fast, and easy:

Step 1: Deposit funds via Interac eTransfer or bank wire.

Step 2: Select the amount you want to invest and purchase ADA.

Step 3: Choose ADA as the cryptocurrency you want to stake.

It should be noted that your cryptocurrency holdings will never leave your account, and funds will be paid out on every five days. Because Bitbuy is your leading digital platform, you can rest assured that all your assets are safe and secure. You can also take comfort in the fact that you can unstake your ADA investment at any time and withdraw any amount.

How ADA Staking Rewards Work

Here is how staking your ADA holdings works:

· Cardano employs a Proof-of-Stake (PoS) cryptocurrency consensus mechanism that confirms transactions and constructs new blocks through randomly chosen validators.

· ADA is the native cryptocurrency of Cardano.

· Any investor who holds even a single ADA coin can stake their assets to one or more validators.

· ADA holders can stake on the Cardano network.

· After the tokens are chosen to validate as a block, stakers will earn an ADA staking reward.

Why Bitbuy is Your Best Choice for ADA Staking

Safe and Secure

Bitbuy is the nation’s most reputable cryptocurrency platform. It is also the first Toronto Stock Exchange-listed firm and one of the few Ontario Securities Commission-registered crypto trading platforms in Canada to be granted regulatory approval to offer clients staking.

Since Bitbuy does not participate in fractional reserves, you can be confident that we will never loan out your assets to earn rewards. Your assets are always maintained at a 1:1 ratio. Be sure to check out our latest Proof-of-Reserves audit here!

 

Speed & Efficiency

Clients who choose to stake on the Bitbuy platform will have the advantage of low minimum amounts to stake. You can get started with just 1 ADA.

The Lowest Fees

In Canada today, Bitbuy offers the lowest staking fees. And by choosing a Canadian-based digital platform, clients no longer need to be concerned about foreign-exchange fees.

Award-Winning Customer Support

The Bitbuy customer service team can answer all questions, concerns, and inquiries that users may have. You can reach out to our impeccable customer support staff. You can also visit our support page, where you’ll find a long list of answers to common questions.

FAQ

What is Cardano (ADA)?

ADA is the main digital currency used on Cardano, which is a type of technology that allows people to create and use smart contracts. The Cardano Foundation is in charge of overseeing the development of the Cardano Network, with help from companies like Input Output HK and EMURGO. Cardano was created by Charles Hoskinson and Jeremy Wood, who founded Input Output HK.

How Much Cardano (ADA) do I Need to Stake?

You can start staking with just 1 ADA. You can choose stake only one token or thousands without a maximum. 

The philosophy of staking rewards is simple: The more you stake, the more you earn.

 

How do I Buy Cardano (ADA) in Canada?

The only way to purchase tokens is to buy ADA on a cryptocurrency exchange like Bitbuy. The process is easy enough: open a Bitbuy account and then acquire as much or as little ADA as you want.

Where is the Best Place to Stake Cardano (ADA)?

For the most part, cryptocurrency was challenging to access more than a decade ago. You either had to mine digital currencies, or you had to find others to exchange. Since then, however, the crypto sector has blossomed, whether it is the opening of crypto exchanges across the globe or valuation levels. One of the best online crypto trading platforms is the Canadian-owned and operated Bitbuy. This crypto platform is an oasis for all types of investors, from the novice interested in crypto to the seasoned veteran who monitors the market all day. Bitbuy has the best tools to buy and sell crypto. So, be it low fees or incredible security features, Bitbuy gives clients exposure to a long list of coins, including ADA.

Do the 2.25% Staking Rewards Fluctuate?

Yes, ADA staking rewards do fluctuate. However, if holders average their rewards over a period, it will be roughly equal, and the variability averages out.

Is Cardano (ADA) Proof of Stake or Proof of Work?

Cardano (ADA) is a Proof of Stake (PoS) blockchain, which means that instead of using a Proof of Work (PoW) consensus mechanism like Bitcoin, it uses a PoS mechanism to validate transactions and add new blocks to the blockchain. In a PoS system, validators (or "stakers") are chosen to validate transactions and add new blocks based on the amount of cryptocurrency they hold and are willing to "stake" (or temporarily lock up) as collateral. This approach is seen as more energy-efficient and cost-effective than PoW, as it does not require the same level of computational power and electricity consumption as PoW.

How Often Does Bitbuy Pay Staking Rewards?

Your ADA staking rewards are paid out by Bitbuy every 5 days.

How Much Can I Earn Staking Cardano (ADA)?

You can earn up to 2.25% on the amount you staked.

Is There a Risk of Losing Cardano (ADA) by Staking?

Staking is considered a secure and effective investment strategy in the cryptocurrency world. However, like any investment, it does come with its own set of risks.

A common concern associated with staking in some blockchains is slashing, which refers to penalties imposed due to validator errors or infrastructure downtime. However, this is not a concern for Cardano (ADA) stakers as Cardano's staking system does not involve slashing. Validators on the Cardano network do not face penalties for misbehavior, making slashing extraordinarily unlikely.

It's also worth noting that crypto staking, particularly in networks like Cardano, is often deemed safer than crypto lending. This is because staking rewards are derived from the blockchain protocol itself, while lending involves credit risks. In staking, your earnings come from the issuance of new tokens, rather than relying on a borrower to repay a loan.

In partnership with leading infrastructure providers in the digital economy today, such as Figment, platforms like Bitbuy ensure a secure staking environment, further minimizing the chances of any loss occurrence. Therefore, staking Cardano (ADA) is generally a safe and profitable investment decision.

How Long Can You Stake Cardano (ADA)?

Clients can stake ADA for as long as they want. There is no minimum or maximum limit to how long you can stake. There is also no unbonding period for ADA, you can unstake at any time and your tokens will be available instantly.

What is the Best Staking Crypto?

· Ethereum: A PoS cryptocurrency and decentralized global software platform powered by open-source blockchain technology with smart contract functionality.

· Polkadot: A PoS blockchain and cryptocurrency that connects blockchains, facilitating the movement of data and value across multiple networks.

· Polygon: A PoS network that employs on-chain transactions, depending on Ethereum for enhanced security mechanisms.

· Solana: The protocol utility, which is one of the world’s largest smart contract cryptocurrencies, is a decentralized and permissionless high-speed layer-1 blockchain. The project looks to offer efficient, scalable, and user-friendly applications for the worldwide cryptocurrency sector.

· Cosmos (Coming Soon in 2023): A PoS cryptocurrency that bolsters a pool of blockchains that can scale and communicate with others. The long-term objective is to establish what is called an Internet of Blockchains.

How Safe is Staking Cardano (ADA)?

Staking your ADA on Bitbuy is a safe and secure decision. All your staked crypto assets will be stored in institutional-grade cold storage from BitGo, a digital asset custody solutions firm and market leader. For ADA, all your holdings will be locked in a deposit smart contract that will be in the care of BitGo on Bitbuy’s behalf.

Earn rewards by staking your crypto

Sign up
Polkadot (DOT)
Earn 10.07% yearly
Stake DOT
Ethereum (ETH)
Earn up to 2.89% yearly
Stake ETH
Polygon (MATIC)
Earn 4.55% yearly
Stake MATIC
Solana (SOL)
Earn 5.04% yearly
Stake SOL
Cardano (ADA)
Earn 2.25% yearly
Stake ADA
NEAR Protocol (NEAR)
Earn 5.15% yearly
Stake NEAR
Cosmos (ATOM)
Earn 11.23% yearly
Stake ATOM
Injective (INJ)
Earn 10.73% yearly
Stake INJ
*Please note that this estimate is for illustrative purposes only. Earning may be variant when you make a staking transaction and dependant on the price of the coin at any given time.
See Staking Asset Details for more information on each stakeable token.

Start earning staking rewards in 3 easy steps

1
Buy and hold eligible crypto
Choose one of the eligible coins and purchase it if you do not own it
2
Choose an amount to stake
Once you own the eligible coin, choose how much you would like to stake

3

Earn staking rewards
Start earning rewards paid out frequently while you HODL