In this tutorial, we'll walk you through the process of staking your $SOL coins using Kiln directly within your SafePal software wallet to earn annual percentage rates (APR). Staking with Kiln is a secure way to participate in the Solana network validation while earning passive incomes.
Prerequisites
Before you begin, make sure you have: SafePal wallet installed (Version 4.8.15 or above), $SOL coins in your SafePal wallet, a small amount of SOL for transaction fees (recommended at least 0.01 SOL), Stable internet connection.
This tutorial contains the following four sections:
- Step 1: Navigate to the Staking Section
- Step 2: Stake $SOL in Kiln
- Step 3: Complete
- Step 4: Unstake your $SOL
Step 1: Navigate to the Staking Section
Launch the SafePal mobile App, enter your password or use biometric authentication to unlock your wallet, and tap the Earn tab on the bottom of the screen.
Select to click $Solana (SOL) from the list of supported assets.
You can see the staking service provider Kiln, check the APR and your $SOL asset details, click Stake when you are ready to go.
Step 2: Stake $SOL in Kiln
Enter the amount of $SOL that you would like to stake, after you review the staking terms and details, click Confirm to proceed next steps.
Notes:
1.The minimum staking amount is 0.01 $SOL
2.Review the unstaking period (typically 2-3 days for Solana)
Check the network fees and tap confirm.
Enter your SafePal App password to confirm the staking signature.
Step 3: Complete
Wait for the transaction to complete (usually takes <1 minute)
Step4 : Unstake your $SOL
On the SOL staking page, click Unstake.
Select one SOL epoch to unstake.
Click confirm.
Enter your App password to authorize the unstaking signature, wait for the unstaking period to complete.
You will see a prompt message Success appearing for a while, then disappears, which means you have successfully unstaked the $SOL, click withdraw to check your unstaked SOL.
Click the withdrwabe $SOL tab on the above withdraw page, enter your App Password to withdraw the $SOL funds to your SafePal wallet if you wish to.
Tips for Optimal Staking
- Consider compounding your rewards by staking them periodically
- Maintain a small amount of unstaked SOL for transaction fees
Staking SOL with Kiln through SafePal wallet provides a convenient way to earn passive income while contributing to the Solana network's security. By following this guide, you've successfully put your SOL to work and can now monitor your growing rewards directly within your SafePal wallet interface.Remember that cryptocurrency investments carry risk, and APY rates may fluctuate based on network conditions. Always do your own research before making financial decisions.
