The Ultimate Keplr Staking Guide

Apr 20, 2021 5 min read
The Ultimate Keplr Staking Guide

Why choose one asset if you can stake them all? See which assets you can stake and learn how to do it with Keplr wallet.

Hi Readers👩‍💻,

Some of you might already be familiar with Keplr Wallet, the browser extension wallet for the Inter blockchain ecosystem. The Keplr multi-asset wallet has recently had its 1st birthday and today we’d like to share an in-depth guide with you on staking with this unique wallet.

So, what are the current Keplr wallet features? Well, the Keplr Extension supports transfers and staking for many blockchains in the Cosmos ecosystem, including the Cosmos Hub, as well as Kava, Akash, Secret Network, Certik, Irisnet, Regen and more. The team behind Keplr has been shipping consistently and if your favorite assets are not supported yet, there’s a chance they will be very soon. There’s also the possibility for users to manually add compatible digital assets. In addition to integrating new assets, the team is working on improvements to signing non-standard transaction messages for application-specific transactions.. That said, let’s have a look at setting up your wallet and staking.

Part 1 — Setting Up Your Keplr Wallet

To set-up, a new Keplr wallet, go to the webpage. On the Keplr web page, select “Create New Account’’ to start setting up your account. There is also an option to Sign in with Google, powered by Torus. In case you already have a Keplr wallet, select “Import Existing Account.”

If you’ve selected “Create New Account”, Keplr will ask if you’d like to have a Mnemonic Seed of 12 or 24 words. Remember to store your seed phrase securely offline and never share it with anyone. If you lose your seed phrase, you will lose the assets within the wallet.

Once you’ve copied your seed phrase, fill out your account name, desired password and confirm by selecting “Next”.

You will then be asked to fill out your seed phrase in the correct order to register. Click on the words to create the sentence, then select “Register”. That’s it! You’ve now created your Keplr wallet. Select “Done” to close the registration webpage, and your wallet should now be opened in the extension. Go to: https://wallet.keplr.app/#/dashboard to continue.

Part 2 — Staking Your Assets

In part 1, we showed you how to set-up your Keplr wallet. Once that’s done, it’s time to start staking. If you don’t have any assets in your wallet, please copy your account address to send $ATOM or any other supported asset to your Keplr wallet from any exchange or wallet. You can switch between assets via the left tab. Once you’ve sent assets to your wallet, wait a couple of seconds, grab yourself a cup of coffee and return to get started with staking!

Let’s say you’d want to stake $ATOM, on the dashboard’s left drop-down menu, select “Cosmos” and then “Stake”, this will take you to the validator overview. You can also use the extension and simply press “Stake” on the pop-up’s bottom right (it will take you to the same page).

The Keplr wallet currently doesn’t have a manual search bar, so you will have to scroll down to select your choice’s validator. Once you’ve found the validator of your choice, click on “manage” on the right (see image below).

When you press “manage,” a pop-up will appear on which you can redelegate, undelegate and delegate to the selected validator.

Select “Delegate”, then fill out the amount of digital assets that you’d like to delegate (keep in mind that you’ll have to pay some fees, so leave some assets in your account for that). Select “Delegate” once again to continue.

The Keplr extension will open itself up, and on it, you can decide to pay a low, average, or high fee. It’s also possible to add a memo. Once selected, click on “set fee”. Next, double-check all the details of the transaction and choose “Approve” when ready.

Congratulations!! You’ve now staked with Keplr!

If you’d like to see how your assets are doing, how much you staked etc., select “Dashboard” in the left drop-down menu on the web browser. When you’re eligible to claim rewards, you can do so on the right after your staked amount (see image below).

Part 3 — Governance

Besides staking, it is also possible to vote for governance proposals with the Keplr Wallet. As per the paragraph above, we will be using Cosmos as an example in this tutorial. However, voting for governance proposals for other networks is also possible in the app.

First, go to the Keplr Wallet dashboard. Once there, select the network that you’d like to vote on the left side drop-down navigation menu. Click on “Governance”.

Once you are on the governance page, you will see all the information about current and previous on-chain proposals. You will be able to see the upcoming proposals as well and read all about them if you click on “details”. The proposals that are available for voting simply have a “vote” button and the end time marked.

Please note that it is very important to first consult all the information and links available on the page to get a complete idea of the community’s position as well as what the proposal would entail. Once you are sure about your standpoint, it is time to vote.

Select the blue “vote” button at the top right of the numbered proposal (in this case, #41).

A pop-up menu will appear giving you four different options: yes, no, no with veto and abstain. Click on your choice, and select “confirm” to complete the vote.

A window will be opened on which you will have to select the fee that you’d like to pay (between low, average and high). In case you’re unfamiliar as to why this choice is given, it is to accelerate the speed at which your transaction completes. Right now, the Cosmos Networks aren’t congested so low/average/high doesn’t affect much. However, in the future when a network gets extremely popular, your transaction may take a few seconds using high fees and a few minutes with low fees. That said, select “approve” once you are ready.

You will be sent a final summary where you can confirm all the information and that’s it.


DISCLAIMER: This is not financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the failure of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.

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