Staking Komodo on Guarda Mobile Wallet + 3 Useful Tips

Step-by-step instructions to stake Komodo with Guarda Mobile Wallet

Have you heard of Komodo Platform? If yes, you must know that one can get percentage from simply having Komodo in a wallet, or, as it is called, staking Komodo. This article will show you, how to stake Kmd with Guarda Mobile Wallet. As a bonus, you’ll learn 3 useful tips concerning recent changes in the rules of getting a reward, implemented by Komodo Inc.

As usual, there are two parts in the tutorial: Part 1 for those who don’t have a Guarda Mobile Wallet for Komodo, and Part 2 explaining the staking process itself.

You can learn a bit more about Guarda — Komodo interaction in the articles we have already published.

Part 1 — The preliminary stagefor those who don’t have a Guarda Mobile Komodo Wallet:

Create a new wallet or tap “Restore”, type in the mnemonic phrase and enter the wallet you’ve already had.
The home screen of Guarda Komodo Mobile Wallet
Take care of your safety — tap “Wallet Security”
Copy the mnemonic phrase and save it in a good place.

Part 2 — The main stage:

  1. Transfer kmd from another account, or
  2. Import another kmd wallet directly into the Guarda Mobile wallet, or
  3. Buy kmd by a bank card right in the app, using one of the exchange services.

In the example given we’ve transferred the funds from another account.

When you have more than 10 kmd on your account, you’re nearly ready to start earning the percentage.
Tap the field with the date of a transaction to see more details of the Tx.
Watch your reward growing, and claim it (but not earlier than it becomes more than 0.01)

Important Tip #1: There is no point to collect an amount smaller than 0.01 as you have to pay ~0.0001 or more as tx fee thanks for the tip to the Komodo Support!

Important Tip #2: One of this days Komodo is going to update the bonus politics. The main difference is that now users have to perform at least 1 action per month with their kmd actives, and not just hold them passively, as it used to be. You can read more here, at the Komodo Official FAQ .

A piece of advice from Guarda: the easiest action seems to be simply transferring all your kmd funds from one your account to another, just like you did in the beginning, when adding the Lock Time setting to your kmd.

Important Tip #3: After 1 month the reward will stop accruing until you claim them. Then it will stop again in 1 month from the time of the last tx — thanks again, the Komodo support team!

So, as it seems logical, the optimal solution would be to claim your reward once a month, when it’s bigger than 0.01, and then perform an action with your funds, and wait the next month to repeat the cycle.

We hope the material was useful to you. If you still have any questions or doubts concerning staking Komodo — reach us out, and we’ll do our best to help you.

PS. Watching the bonus amount increasing is an assuring vision indeed, so enjoy staking kmd with Guarda, and share your impressions with us! ;)

Learn more on our official site https://guarda.co/

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Guarda Team

We write about essential updates and news around Guarda Wallet Ecosystem