- SOL (Solana) can be staked
- What is the SOL (Solana)?
- There are two methods of staking the SOL (Solana)
- How to Stake SOL (Solana) with Phantom.app
- How to Stake SOL on Binance
- Summary of SOL (Solana) Staking
SOL (Solana) can be staked
Solana (Solana/SOL) is available for staking.
Solana is the native token of the Solana blockchain with fast transaction processing and low fees.
Solana was listed in 2020, but in January 2021, the price was about $2. By November, the price had risen 120-fold to about $250.
It is also a token with a very promising future, with the possibility of further price increases depending on future updates.
The benefits of staking out such a Solana include
- Simply leave Solana with a validator and receive Solana as a reward.
- Possibility of receiving airdrops and other benefits from holding a certain amount of Solana
and others.
In this article, we will introduce the staking method of Solana, which is highly promising, but first let us summarize the conclusions of this article.
- Solana’s staking yield/interest rate (APY) is about 6%.
- If you are staking Solana, I recommend BINANCE or Phantom.
- BINANCE is the best place to buy Solana
To start staking, Solana must be purchased.
BINANCE is the best place to buy Solana.
Because,
- BINANCE is one of the largest exchanges in the world
- Achievement of overwhelmingly low remittance fees
- With BINANCE, staking is possible by simply owning Solana
This is because it is
If you want to buy Solana, buy BINANCE first.
What is the SOL (Solana)?
The SOL (Solana/Solana) is the seventh largest in the market.
Solana was just listed in 2020, but in just one year, 2021, the price increased about 120 times.
Solana is characterized by the following two features
- High-speed transaction processing capability
- By far the lowest commission rates
Solana has faster transaction processing capabilities than other brands.
In fact, compared to the transaction processing capacity of other stocks
| Number of transactions processed (seconds) | transaction fee | |
| BTC (Bitcoin) | Approx. 48,000 | Approx. 10 dollars |
| ETH (Ethereum) | approx. 10 | Approximately $10-15 |
| SOL (Solana) | approximately 20 | Approximately $0.00005 |
Thus, Solana boasts unparalleled transaction processing capacity and low transaction fees.
This Solana feature is due to Solana’s proprietary hybrid protocol, which results in a significant reduction in validation time for both transaction and smart contract execution.
Also, anyone is free to issue their own tokens on the Solana blockchain. For this reason, many different projects are being developed using the Solana blockchain.
Solana’s future potential is very strong, and prices may continue to rise in the future.
Therefore, we recommend staking Solana before prices rise.
APY for staking SOL (Solana)
| Staking Method | expected yield | Recommendation |
| Staking with BINANCE’s regular staking and Phantom.app |
6% | ★★★☆☆☆ |
Solana’s interest rate/yield for staking is 6%.
According to Staking Rewards, as of January 2022, Solana’s staking yields an interest rate of approximately 6%.
There are two methods of staking the SOL (Solana)
Note that there are two methods of staking Solana
- BINANCE regular staking (for beginners)
- Staking with Phantom.app (for intermediate and above)
The major exchange BINANCE offers Solana’s staking service for its regular staking.
Staking yields vary depending on the lock period (the period of staking). Please note that it is not possible to choose the validator for the staking.
On the other hand, there is also staking in Phantom, Solana’s blockchain wallet.
Staking with “Phantom.app” requires more work, such as preparing your own wallet, but you can choose the validator (verifier) to which you want to stake your account.
| Staking Method | interest | Validator’s Choice |
| BINANCE’s regular staking | 8% to 11 | without |
| Staking with phantom | 6% | existence (at the present moment) |
If you would like to see Solana staking for the first time, we recommend that you start with regular staking at BINANCE.
Because with BINANCE periodic staking, simply lock (deposit) Solana in BINANCE.
Yields on BINANCE’s regular staking range from 8% to 11%.
Yields on BINANCE’s Solana fixed-term staking vary with the lock period (30, 60, or 90 days).
The longer the lock period, the higher the yield.
| lock period | interest |
| 30 days | 8% |
| 60 days | 9%. |
| 90 days | 11%. |
The minimum staking volume is 0.01 SOL, which allows for staking with a relatively small number of holdings.
If you are going to try Solana staking, start with BINANCE regular staking.
Compared to PHANTOM, there is the advantage of eliminating the transfer procedure from Binance.
However, there are the following disadvantages
- Binance’s regular staking is often lower APY.
- No staking if sold out.
Click here to register for BINANCE.
How to Stake SOL (Solana) with Phantom.app
Staking is also possible with Phantom.app, a wallet compatible with Solana’s blockchain.
The procedure for staking with Phantom.app is the following 4 steps.
- Add the Phantom.app Chrome extension and create an account
- Buy SOL at BINANCE
- Solana remittance to Phantom.app
- Select a validator and start Solana staking
Add the Phantom Chrome extension and create an account
Phantom is Solana’s official digital wallet that anyone can use for free.
It is easily available as a Chrome extension, so download it first.
Once the download is complete, the next step is to create an account.
Click on the Extensions tab in the upper right corner of Chrome and launch phantom.
After startup, first save the “Secret Recovery Phrase” that appears on the screen by copying it to a memo or by other means.
This Secret Recovery Phrase is the only phrase that will allow you to log in if you forget your login password, so do not lose it. Likewise, keep it in a safe place so that others cannot easily check it.
Finally, set a password to complete your account creation.
To launch phantom in the future, simply click on the phantom logo in the list of Chrome extensions in the upper right corner.
Convert BTC to SOL with BINANCE
Next, convert the BTC deposited in BINANCE to Solana (SOL).
The BTC to be used as the conversion source should be purchased at BINANCE.
The method for converting BTC to SOL is as follows
- Launch the BINANCE application
- Tap “Convert” from the menu bar below the wallet
- Select “BTC” as the conversion source and “SOL” as the conversion destination
- Enter the amount of conversion
- Performing a Conversion
Transfer purchased Solana (SOL) to Phantom.app
The Solana prepared by BINANCE is now transferred to PHANTOM.
The procedure for transferring money to Solana for phantom is a bit more complicated and will be explained in detail.
Copy the receiving address of the SOL in phantom
First, copy the Solana-specific receiving address in Phantom.
Copying addresses is easy.
When you hover the cursor over the top of the activated PHANTOM tab, a copy of the display will automatically appear.
- Launch Phantom from Chrome Extensions
- Move the cursor to the top of the tab and tap “Copy to clipboard
If you can copy the address to the clipboard, you are good to go.
Register your remittance address with BINANCE and make a test remittance
Tap “Add Withdrawal Address” to register the copied remittance address (or the QR code you scanned) to the BINANCE remittance address.
Once you have registered the payee, make your test remittance.
First, send the minimum remittance.
The reason why you should do a test transfer from BINANCE to PHANTOM is that if there is an error in the transfer address, you risk losing the Solana you transferred.
If you fail to transfer , you could lose your assets forever, so be sure to test the transfer and confirm in advance that the wallet is correct for the destination.
SOL remittance in real
If the test money transfer is successful, you can actually send the money.
Since the amount of money transferred should be larger than the test money transfer, it may take slightly longer to receive the money than the test money transfer, but it will take about 1 to 5 minutes to receive the money.
When payment is received, the SOL balance in PHANTOM should increase, so please refresh the screen to check.
Select a validator and start staking
Once you have successfully received the money, you can now set up the staking.
The procedure for staking with phantom is as follows
- Tap the SOL tab after starting phantom
- Tap “Start earning SOL”
- Enter the amount to be staked and tap “Stake” in the lower right corner
- From the list of validators, select the validator to be staked
- Staking is complete when the “SoL Staked” screen appears
First, tap the SOL tab on the TOP screen.
Then tap “Start earning SOL” and move on to the staking screen.
Next, select the validator to be staked.
A validator is like a depository for the SOL, and the SOL is locked to the validator for a certain period of time.
After selecting the validator, then enter the amount to be staked and tap the “Stake” button in the lower right corner.
You will then be taken to a process screen to approve the staking, and when you finally see “SOL Staked!”, Solana staking is complete.
How to Stake SOL on Binance
With BINANCE’s regular staking, staking Solana is easy.
The specific procedure is the following five steps
- Open a BINANCE account
- Staking SOL for regular staking of SOL in BINANCE
Open a BINANCE account
First, open a BINANCE account.
Once you have opened a BINANCE account, complete STEP 1 of the identity verification process in order to begin trading.
STEP 1.
- passport
- driver’s license
Identification documents such as the following are acceptable.
Identity verification is available up to STEP2, where a certificate of residence is submitted, but there is no problem with only STEP1.
Click here to register for BINANCE.
Lock Solana in regular staking of BINANCE
Finally, the converted SOL is deposited in the BINANCE staking.
BINANCE offers a staking feature called periodic staking.
This is a staking service whereby you simply lock (deposit) in BINANCE for a certain period of time and receive the APY (yield) amount. The only condition for participation is to lock the minimum number of holdings for each issue.
Please note that the minimum holding for regular SOL staking is 0.01 SOL.
The following is how to do regular staking in the BINANCE application.
- Tap the bottom right corner of the app → Tap “Earnings” → Tap “Earn Products
- Tap “Subscribe” under Periodic Staking, enter the SOL you hold, and tap “Subscribe”.
Staking rewards will be reflected on the application the following day.
Recommended staking stocks other than the SOL (Solana)
Finally, here are some recommended staking brands other than Solana.
Looking at other stakable issues, Cosmos (ATOM) and AVAX are expected to yield more than Solana.
ステーキング銘柄 | 利回り（APY） | おススメ度（0～5） | コメント |
|---|---|---|---|
| ADA | 4.61% | 4.0 | ・ETHの共同開発者がPoWの課題解決のために開発 ・独自のウロボロスコンセンサスを実装 |
| ATOM | 9.70% | 5.0 | ・Cosmosチェーンのトークン ・相互運用性が無いブロックチェーン同士を連携 |
| AVAX | 9.38% | 4.8 | ・高速処理に強い「イーサリアムキラー」の1つ ・大手監査法人のデロイトグループが採用 |
| BNB | 8.69% | 4.5 | ・Binanceが運営するBSC（バイナンススマートチェーン）のトークン ・BSCのエコシステムの拡大に伴い注目度は高い |
| CAKE | 36.60% | 3.8 | ・DEX（分散型取引所）のパンケーキスワップでステーキングが可能 ・非常に高い期待利回りが特徴 |
| ETH2.0 | 4.70% | 5.0 | ・市場規模第2位の銘柄 ・NFTやDeFiでの活用事例多数 |
| KAVA | 35.68% | 4.4 | ・クロスチェーンのDeFiプラットフォームのトークン ・USDXをMintすると定期的にKAVAが付与 |
| SAND | 15.00% | 4.0 | ・ブロックチェーンゲーム「TheSandbox」のトークン ・運営会社はSoftbankBFから106億円を資金調達済み |
| DOT | 15.00% | 4.4 | ・ETHのセカンドレイヤーチェーンのトークン ・パラチェーン機能で高い注目 |
| SOL | 5.9% | 4.5 | ・2021年に価格が約120倍上昇した「イーサリアムキラー」銘柄 ・高速なトランザクション能力と圧倒的に低い手数料が強み |
Also, if you expect higher yields than Cosmos, BNB, or Solana, we recommend the CAKE/AVAX pair, which can be staked with pancake swaps on the DEX (decentralized exchange).
The yield is approximately 40%, which is outstandingly high among staking issues.
Remember, however, that the higher the expected yield, the higher the risk may be.
Summary of SOL (Solana) Staking
Finally, this article is a summary of this article.
- Solana’s staking yield/interest rate (APY) is about 6%.
- If you are staking Solana, I recommend BINANCE or Phantom.
- BINANCE is the best place to buy Solana
If you’re ready to start staking with Solana, I recommend you open a BINANCE account first!
