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)

Binance Wallet of ICP Tokens

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.

Register using Internet Identity

Step 3: Click Register with Internet Identity

Step 4: Confirm the registration

Once, you are done. It will look something like this

After Registration

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.

The Network Nervous System(NNS)

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.

The Network Nervous System(NNS) Dashboard

Step 8: Copy the Address below the text Main using the copy icon

Total ICP Tokens

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

Withdraw form Binance

Step 10: Click withdraw, select coin ICP and enter the new address from NNS, select Network ICP and click with draw

Withdraw from Binance

The ICP Tokens will reflect in NNS Dashboard

NNS after withdraw

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

Adding Neurons

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.

Click Increase Dissolve Delay

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

Interaction Designer