How to Stake Fetch.ai (FET) and Get More Out of Your Crypto
One of the biggest perks of investing in cryptocurrency is something called staking. Staking is where you allow your crypto to be used by a third party, or validator, to secure and strengthen a blockchain network.
In return, you receive more crypto.
We’ve shown you how to use Coinbase to stake coins like Ethereum (ETH) and Cosmos (ATOM) – two of the six cryptos in Chief Crypto Strategist Nick Black‘s starter portfolio – and it’s a fairly quick and easy process.
But even though you can buy all of Nick’s starter picks on Coinbase, they’re not all available to stake on the platform.
Cardano (ADA), for example, requires a bit more effort, which is why American Institute for Crypto Investors Advisory Board member David Zeiler created this guide to show you how to do it.
Then, there’s Fetch.ai (FET), another of Nick’s core investments. Fetch also requires a few more steps to stake – but they’re well worth taking when you can earn up to a 14% annual percentage rate (APR).
And it doesn’t have to be difficult when you have our team of experts on your side.
We’ve put together this easy-to-follow guide that walks you through the process of staking Fetch, step-by-step, so you can get more out of your crypto investment – starting today…
Step 1: Have Your Coinbase and MetaMask Accounts Ready
You will need a Coinbase account and a MetaMask account to continue. Make sure you have those set up.
You can access our guide to creating a Coinbase account here, then check out our MetaMask 101 guide here.
Step 2: Download Cosmostation
To stake Fetch, we’ll be using Cosmostation – a mobile wallet that prides itself on transparent reward distribution, community-driven governance, high and stable staking rewards, and secure validator infrastructure to prevent slashing.
After creating a Coinbase and MetaMask account, the first thing you need to do is download Cosmostation on your smartphone.
You can download Cosmostation on Android and iOS.
Once you download and open the app, press “Start:”
Now, scroll down until you see “Fetch.ai.” Click it.
This will take you to your personal wallet for staking Fetch. Even if you currently own Fetch, it will not show up in the wallet until you transfer it over. So, don’t be concerned if your wallet says $0.000.
At the very top of the main page, you’ll see a key with a very long address next to it beginning with “fetch.” This is your personal address for your Fetch staking wallet, which you should never, ever share with anyone:
Step 3: Transfer Your Fetch from Coinbase to MetaMask
Coinbase does not support the native Fetch coin and is only using the ERC-20 version. It doesn’t support the updated version of Fetch, so you will need to access the Fetch.ai Token Bridge website to transfer the Coinbase Fetch into the newer version.
Here’s how to get started.
Once you have your Fetch in your Coinbase account, you want to go to the “Home” section and click “Send:”
Once you’ve selected the amount of Fetch you want to stake, click “Continue.” You will need to pay a small amount for the transfer, so make sure to have a few tokens reserved for this.
Once you press “Continue,” you’ll be given an address option where you will enter your MetaMask address. Then, you can preview your transfer and click “Send now.”
Step 4: Transfer Your Fetch from MetaMask to Cosmostation Using Token Bridge
Once you have sent your Fetch to MetaMask, enter token-bridge.fetch.ai into your browser. You will see this image when you access the token-bridge website:
This is because you haven’t yet connected your MetaMask to the token bridge website. Once you click “Unlock,” the option to connect your MetaMask wallet will appear:
Simply enter your password and sign in to your account to have access. Once you’ve connected MetaMask, the home screen will change to this:
You want to make sure that “ERC20 to Native” is selected since you are depositing your Fetch into the staking pool and not taking it out.
In the section titled “Ethereum Address,” you want your MetaMask address to be entered.
Under “Native Address” you need to go into Cosmostation and copy your Fetch wallet address, which is displayed at the top of your wallet next to a key symbol.
Then, you will enter the amount you want to transfer to Cosmostation to stake.
This might take a minute, but you will know it is working if “Transfer” changes to “Waiting for approval:”
You’ll see several notifications and confirmations like this from MetaMask during the transfer:
These are just extra safety measures to make sure this is what you want to do and that you are aware of how to keep your crypto safe.
Once the transfer is confirmed, go into your Fetch wallet in the Cosmostation app. You’ll know your transfer was a success when you see the “Available Balance” is the amount of Fetch you transferred from your Coinbase account.
Step 5: Stake Your Fetch in Cosmostation
Now that you have your Fetch transferred over, it’s time to stake it.
Step 5A: In the Cosmostation app, click on “Delegate” and then “Top:”
This will take you to the list of top validators for Fetch. Each one has a list of its “Voting Power” and “Est. APR” (estimated annual percentage rate).
Step 5B: The validator you select is completely up to you. However, make sure you do your research on which one is a good fit for you. Once you select a validator, you’ll have four steps to complete, displayed at the top of the page.
Step 5C: Choose how much FET you want to stake for this validator. If you chose to only stake half your Fetch you can always come back and stake the other half once you know how much will be needed or not needed for gas fees. You could even stake the second half with a different validator if you choose.
Step 5D: Feel free to add a note about this transaction for your records. It’s a simple step but could come in handy in the future.
Step 5E: The gas fees will vary based on many different factors, but for our team, the gas fees were $0.000. Click next.
Step 5F: This is the last step before you can stake. Simply look over the information you’ve entered, make sure it’s correct, and click “Confirm:”
You will receive one final “Delegate Notice” informing you of the risks and rewards of staking. If you accept these risks, click “Continue:”
You’ll know that you have successfully staked Fetch when you see a green checkmark next to the word “Success” on the “Transaction Details” page.
You may want to screenshot this page for your records. Once you have looked over this page and made sure everything is correct, click “Done:”
You’ll then be taken to the main page of your wallet. If you look under the “FET” section, you’ll notice that your FET previously listed under “Available” is now listed under “Delegated:”
If you decide to stake more Fetch in the future, your newly added and unstaked Fetch will appear under the “Available” section until delegated to a validator.
Congratulations, you have officially staked Fetch!
Now you can watch your rewards come rolling in every day. What you do with these rewards is up to you, but many people reinvest them by clicking “Delegate,” selecting your validator, and then “Re-Invest.”
If you would rather access your staking rewards to hold, trade, or spend, then choose “Claim Reward” instead.
If you are having difficulty deciding which to choose, remember that the more money you stake the more rewards you earn.
In staking $300 worth of Fetch at current prices, our team is estimated to receive about $10 a month in rewards. However, if we continuously reinvest our rewards each month, our monthly rewards will increase as well.
Happy staking,
The American Institute for Crypto Investors Research Team