How to Stake Solana with Phantom Wallet (Native Staking & JitoSOL Tutorial)

How to Stake Solana with Phantom Wallet (Native Staking & JitoSOL Tutorial)

this video is how to stake salana I’m going to show you exactly how to do this step by step which wallets to use or if you’re a beginner maybe some other options which may be more suitable for you time stamps down below for everything if you are a beginner and you have soul you just want to stake it to earn some rewards but you’re not willing to create your own wallet and manage and custody your assets then use the exchange that you bought sold on most of them will allow you to actually stake it on the platforms now you have to be careful because some platforms may be lending out your assets and some may actually just be passing that through to stake on the blockchain and also there may be lockups for this as well so on binance you can go to the earn feature Soul right here has a product where you can lock up for anywhere from 14 to 120 days and that’ll give you some sort of APR all the way up to 8.9% on binance right now this may not be staking so read the terms in what you’re doing because you may be lending which is different to staking and it has its own set of risks on coinbase as you can see they actually help you stake as well so if you buy salano right here you can just click this go to stake it again there may be a lock up but they pass the staking rewards back to you the benefit of this is that you don’t have to manage your own wallet it’s super easy you get the staking rewards the downside is that your assets are on a centralized exchange and so you have to trust that the exchange isn’t going to do anything crazy or shut down or prevent you from having your assets or whatever so there’s pros and cons but for beginners this might be a good option if you want to take custody of your salana and stake it yourself on the blockchain then you’re going to need a crypto wallet Phantom wallet is really the main wallet for salana so I’ll show you staking with Phantom wallet now if you have a different type of wallet like binance web 3 wallet okx web 3 wallet if you have a hardware wallet like Ledger or you have trust wallet or coinbase wallet as hot wallets these are fine too because they support the salana blockchain so it’s easy and you can stake now there’s a difference between these wallets and also Phantom wallet in that Phantom wallet allows direct staking through validators and you can place your stake with the validator and stake with them some of these wallets may not allow you to do that however there is an easy way to get the staking rewards in these wallets which is known a as a liquid staking token which I will explain so if you’re just looking to use validators Phantom wallet is great trust wallet allows you to do that as well the others we have to have a little work around but it’s actually the more modern way of doing things and the better way of doing things so in any case you can use the wallet that you’re using now you don’t have to have a salana wallet specifically in any case if you don’t have a wallet and you want to set one up on salana I’ll show you how to use Phantom and how to stake here but then I’ll also show you how to use a different wallet so you can go to Phantom doapp I’ll link it down below press download come and download the app for your device you can download it for a browser you can also download it on your phone as well so come and download and set this up now I’m not going to go through the setup process in this video it’s too much but there is a separate video linked down in the description which shows you exactly how to set up the wallet super simple it will take 2 minutes you can get your recovery phrase get your wallet set up and then once it’s set up we can then go and actually get Salon into the wallet and stake it once we have a wallet set up if we have Phantom wallet or one of the other wallets we of course need to use a salana blockchain which means we need soul to pay for gas of course we also need sold to stake so however much you want to stake you’re going to need the so token there plus a little bit left over for gas so for me I’ve got the Phantom wallet up here so I’m just going to press receive and then I’m going to say salana and this is my wallet address so I’m just going to copy that then I’m going to go to my exchange where I’ve bought the S and I’m going to withdraw it over the salana network to my wallet address if you have a different type of wallet it’s exactly the same get the receive address for Soul on the salon Network and your receive address is your wallet address so what I’m going to do is paste in my wallet address it has Auto matched me to the salana network so I’ve bought some salana I’m going to withdraw this out to my wallet uh so if you don’t have an exchanger or buy salana I’ll leave links below to deposit and trading bonuses on the exchanges I use you can check the details by the link below once you’ve got some sold into your wallet to go ahead and stake I’ll show you how to do this on Phantom but also a different wallet it’s the same process so go into your account you have the so tokens right here so we’re going to click on that and then from here it says your stake now I’ve done this for this video but if it doesn’t say your stake here it should say stake salana if you haven’t done already so click this and then from here you can see I’ve got a stake here but you should be blank if you’ve not done it before so there should be a list of validators here I’m just going to press plus to show this list from here choose a validator to stake with so you can choose the Phantom validator if you want or different ones you can see the estimated apy here and this may change dependent on the uh validator that you use as well and they take different Commissions in any case I’ll just show Phantom validator so click this and then you can choose how much stake that you actually want to put over whatever the amount that you want is and what we can do is press stake you can see the estimated apy is almost 7% right now commission they’re taking 9% of the staking rewards so whatever they make they’re taking 9% as a commission passing the rest back to you for running the validator and everything so stake that’s it and it’s going to start to stake for you so once you have that there that will be a blockchain transaction so always keep a little bit of soul back in order to pay for transactions for example if you want to unstake in the future or send tokens around in your wallet you always need some soul to pay for gas so never stake the entire amount because then you’ll have to reload Soul into the wallet in order to unstake and send the tokens out again so that will just go ahead and stake for you press close right here you should see this so this is activ ating so I’m actually staking soul with uh Phantom validator right now and that’s activating that will take a little while this one right here is actually one that I have withdrawn so once you stake you may want to unstake so what you can do is go back to the salana Token page and go to your stake here click this you’ll see that there’s two different accounts right so you can go and choose validators and state with the ones that you want but if you want to unstake then you’re going to have to click on um active Stakes right so this one is inactive right now because I’ve withdrawn it and so I’m actually waiting for that to be withdrawn that may take a couple of days actually to be withdrawn uh so just be aware of that but we’re going to go to Phantom validator here and it says unstake so if you have staked you’ve got soell tokens in there that you’re staking press unstake right here and that will actually go through to unstaking so that’s a transaction you can see view transaction so every one of these I’m paying a small amount of gas in the sell token in order to use these transactions press close you can now see that both of these are inactive because I’m not staking anymore so I staked I saw my stake and then I unstaked it each one is a blockchain transaction but once that has been unstaked what happens is that that so actually goes back into your balance and is then available to spend on gas fees for other transactions what we just did with Phantom olet is take our salana and lock it up with a validator and St it with them that’s absolutely fine but we are locking our salana with that validator so when we’re staking we can’t actually do anything with those Soul tokens we can lock it up with them and if we want them back we have to unstake and wait for the unstaking to happen that’s what happens on many proof of State networks which is totally fine but maybe you want some liquidity for your token right so you want a stake but you also want kind of instant access if you want unstake or if you want to sell for dollars or something else you want to send it back into an exchange then you want to do things instantly and not have your tokens locked up well that’s where liquid staking tokens come in so what this really does is it’s a a project which is goo I’ll show you here and this works on ethereum exactly the same way with many projects like Lio rocket pool where they go ahead and stake for you but instead of locking up our stake with the validator what we doing is giving our coins over to a project they are staking it through smart contracts and everything and then giving us a token back which represents our Stak salana and we acrew the staking rewards just as we would usually however we now have a separate token that is like a receipt token for the state so that we have this token is liquid meaning it’s not locked up so we can actually get this token and if we have it in our wallet it’s the same as Stak salana but we can buy and sell it can send it around to different wallets we can liquidate it easily for something else and so we don’t have the lockup so we get the benefits but we don’t have the lock up here’s how it works you take your soul you put it with a project now goo is kind of the main one on salana this is like the Lio of salana so what they do is they take the so they stake it and they pass the rewards back to us they give us G sell which is the Stak cell right so it has the staking rewards and because it’s just the salana token we can have and own this token in pretty much any wallet that supports the salana blockchain so we don’t have to choose a validator we don’t have to lock up our salana we can just get this token and if the token’s in our wallet it’s earning the staking rewards and we get the benefits of it being liquid instead of choosing a validator then and locking up our s what we can do is use the application GTO s to do exactly the same thing so what we can do is connect our wallet so I’m going to connect wallet here in the top right hand corner and I connect my Fantom wallet now if you have a different type of wallet like trust wallet or something else as long as it supports the salana blockchain and you have some SE in there you can connect it to an app like GTO right you can just essentially choose wallet connect or these options and you can connect your wallet if it supports a salana blockchain you’ll be able to do this it’s just using an application on the blockchain so wet connect if you want to scan a QR code with your phone wallet you can do that and I’m going to connect my Phantom just to show you so what we have to do is take our soul put it with them and they’re going to give us some back so let’s put an amount in and for right here what they’re going to do is swap it into GTO cell so we can press convert to GTO cell like this and then it’s going to go through the blockchain transactions so I’m going to have to accept this and pay the gas fee no problems there press confirm so what it’s doing is swapping Soul into GTO Soul which is this token that represents staked soul and it will ACR the staking rewards and as you can see right now it’s 7.49% now GTO sell is a reward bearing token think of it as a receipt of the big fund of salana that’s being staked and of course Stak salana ACR staking rewards and other types of rewards from blockchain so how are those rewards paid out to us well they’re paid out by essentially the GTO soell token getting more expensive in relation to salana because it is salana plus staking rewards so it should be worth one salana and then every year plus like whatever the staking reward is this is a reward token so it’s going to get more expensive over time you have the same amount of tokens in your wallet but after a year it’s going to get more expensive by how much um the staking rewards were this is different to a rebasing token which actually you get more tokens over time to represent value that’s not what GTO is doing GTO just gets more expensive over time now you can see that I’ve got GTO so in my Phantom wallet this is a staked token and so it’s the value of sell plus the staking rewards and it’s a separate token to salana notice that it is a liquid token so I can send this around to another wallet right now or I can actually sell it as well but if you want to unstake then go over to the GTO protocol press unstake here here when your wallet is connected you can see that it shows me I’ve got a balance of GTO Soul right here and there’s two ways to do this I can either um get out immediately via Jupiter that’s actually a decentralized exchange which I’ll show you in a second or you can wait 2 days to actually unstake it so what we can do is press unstake sell here and that will go through the blockchain transaction you’ll wait 2 days cuz they actually have to unstake it and then give you back the salana plus all of your rewards so if you want to unstake and wait a couple of days you can un stake directly on GTO because GTO soul and other liquid staking tokens are just simply tokens they can be traded just like any other token you can send it from your wallet to someone else’s wallet or you can just trade out of the token and into it as well so you don’t even need to use the staking platform itself so I’ve got my wallet connected to Jupiter which is a decentralized exchange on salana I am going to be actually selling a token in my wallet which you can see is GTO sell here and then I’m I’m going to actually sell that back into some salana token so I can put half right here and what I’m doing is just selling the GTO so token whatever value that may be back into salana now I can do this instantly however you’re using an exchange here so you’re going to be paying gas fees and also a trading fee on the exchange right so you’re going to have to factor that in as to whether you want to do this or not because there will be trading fees and other fees so if I press swap pending approval go through and make sure that these tokens are actually approved on the exchange right so you can see here these are the exchange that’s going to take place I’m going to swap GTO into salana press confirm and that will swap the GTO sell back into salana or you can even swap it into usdc or another stable coin or anything like that but you will have to pay trading fees if you don’t want to pay trading fees and you can wait then press unstake it’s going to be a lot cheaper you won’t pay a trading fee and you’ll get your soulle Tok back into your wallet I’ll leave the other helpful salana videos linked down in the description exchange bonuses there as well I’m James is myg CH for watching and I’ll see you in the next one

How to stake SOlana with Phantom wallet and other wallets with JitoSOL
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TIMESTAMPS:
0:00 How to stake Solana SOL Phantom Wallet
0:11 Stake Solana on Coinbase
1:28 Solana wallets
3:21 Get SOL
4:18 Sol staking Phantom wallet
7:26 JitoSOL tutorial
12:04 Unstake JitoSOL
12:59 Trade JitoSOL on Jupiter

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