Learn how to create an account, stake ICX, claim rewards, and unstake ICX with Citadel.one and Ledger Nano S and X.
Citadel.one is a non-custodial platform where you can easily manage ICON (ICX), Secret Network ($SCRT), Cosmos ($ATOM), IOST, Orbs, and Tezos ($XTZ), and a lot more. They also offer a feature where the rewards you received will be compounded automatically (depending on the crypto and wallet). Fiat on & off-ramp and swapping to other types of assets are also supported.
That being said, let’s explore how to stake our ICX using Ledger Nano via their service!
Table of contents:
- Go to https://citadel.one/ and press “PLATFORM” at the top right.
2. Enter your email address or use your Facebook, Twitter, Google, or LinkedIn to sign up. For this tutorial, I will use my email.
3. Go to your email service provider and check your inbox, promotions, and spam to find the verification code. Enter it and confirm.
Creating/adding a wallet
- You will be presented with six options. For this tutorial, we will use our Ledger Nano (works both for S and X). So select “Link hardware wallet” in the list, click next, then proceed with Ledger.
2. Since we are staking ICON (ICX), we will choose it in the drop-down list. Make sure your Ledger Nano’s firmware, as well as your ICON app, is updated. If you are using Windows 10 (latest build), there will be some security warning pop-ups. Just let it pass by and wait for your first 5 addresses to load. Once done, select the wallet address that you want to import.
1. After importing, choose stake and click add nodes. The list of nodes is presented in alphabetical order. You can search for the P-rep that you have in mind. For this example, we will search for our node, Stakin.
2. Press the P-rep name, and you can enter the amount or percentage of ICX that you want to stake. Press stake, confirm, and finish the transaction by approving it using your Ledger Nano. If you have 0 staked balance, you will be asked to confirm the transaction two times. To vote for another P-rep, you can check the list and do the same steps.
Claiming the rewards
For the first time staking and voting, rewards are paid after 2 terms (~48 hours). After that, you will receive the rewards per term (~24 hours).
After waiting for a few days, check back the web app again, and a claim button will be available. Press it, confirm the operation, and the claimed ICX will transfer immediately to the “Available balance.” You can stake it again if you wish to compound your rewards.
Note: Claiming doesn’t have to be done every day. You can do it weekly, bi-weekly, monthly, etc. Your claimable ICX will stack, so don’t worry.
- Click the unstake icon near the amount of staked ICX to a certain P-rep. Validate the operation and confirm the transaction in your Ledger Nano. If you voted for multiple P-reps, you need to lower each P-rep's staked amount to 0%, select “Stake,” and confirm the tx.
2. After confirming, it will be transferred to your “Non-delegated stake.” Press the unstake button again and confirm the operation. Currently, the unstaking period is ~8 days. So, wait for a while until your ICX becomes available.
Note: The unstaking period depends on the % of the network staked. The higher the % of network staked, the lower the unstaking period. You can track it here: https://icxstakr.io/. For further information, please read our article about it (click here).
Stakin (POS Bakerz) is one of the P-reps! Please support us. 🙌
We are an infrastructure operator for Proof-of-Stake (PoS) public blockchains, offering public delegation services and staking-as-a-service on major PoS protocols.
Get to know more about ICON!
- Stakin P-Rep Proposal
- [DApp] No-loss Staking Lottery on ICON
- ICON Website
- ICON Tracker
- ICON Github
- ICON Official Telegram Channel
- ICON Non-Official European Community Telegram
- Stakin Medium on ICON
- Daily updates about ICON
- Stakin’s Twitter
- Stakin’s Facebook
- Stakin’s Telegram Channel
DISCLAIMER: This is not financial advice. Staking and cryptocurrency investment involves a high degree of risk, and there is always the possibility of loss, including the loss of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some PoS protocols. We advise you to DYOR before choosing a validator.