How to stake ICP tokens in Network Nervous System (NNS)?
Step1: You need to buy ICP from any exchange like Binance or Coinbase or any exchange that offers ICP tokens to stake in NNS ( Network Nervous System)
The above image is from Binance, and that’s how much I have in my wallet.
Step 2: Go to https://identity.ic0.app/ on your browser and create an account.
Step 3: Click Register with Internet Identity
Step 4: Confirm the registration
Once, you are done. It will look something like this
Step 5: Make a backup of this device by safely storing your backup keys and the device you are using to get authenticated.
Step 6: Next head to Network Nervous System(NNS ) https://nns.ic0.app/#/auth on the next tab and authorize this page using the internet identity page.
Step 7: Now you will see the NNS Dashboard which looks like this. There are 4 Tabs ICP, Neurons, Voting, and Canisters. I shall talk about them in later steps.
Step 8: Copy the Address below the text Main using the copy icon
Step 9: Next head on to Binance or Coinbase, as I use Binance, I shall show you using Binance to withdraw the ICP to NNS
Step 10: Click withdraw, select coin ICP and enter the new address from NNS, select Network ICP and click with draw
The ICP Tokens will reflect in NNS Dashboard
Step 11: Click Neurons and click on stake neurons
Step 12: Add the total number of neurons you need to stake and click create, it will take up to a minute
Step 13: After clicking create, you can see ICP Deposited. Click on that
Step 14: Click Increase Dissolve Delay and set dissolve delay to 8 years.
And yes you are almost done. You will get more voting power after 6 months.
Now forget this for 8 years.
Thanks. Clap if you found it useful