The Quick-Start Staking Guide

How to Buy
Your First Coin

Welcome to the Sonarch Quick-Start Staking Guide; a quick-start tutorial to help you invest in a digital future.

If you’ve already got coin, then congratulations! Read no further and choose the next step below. If not, read on and see how to purchase your first token. If you are new to this experience we promise, it’s easier than it seems.

How to Choose A Wallet
Read Article
How To Set Up Your Wallet
Read Article
How To Stake
Read Article
Getting Started

The first thing you’ll learn about is converting dollars to cryptocurrency. We’ll cover all the questions from: Where do you buy cryptocurrency? How do you buy crypto? And why should you buy crypto?

Find An Exchange

To buy your first token, you need an on-ramp to convert cash to crypto. Typically, that’s an exchange. Coinbase is the easiest, but any will do. Sign up for a profile, log in, and the first step is completed.

Purchase Your First Token

Once you’re logged in, you can start converting dollars to a coin like Cardano (ADA). Follow the steps below:

  • 1. Create an account.
  • 2. Click “Buy” (typically on the upper right-hand side of the navigation bar).
  • 3. Enter the amount of currency you’d like to convert to cryptocurrency.
  • 4. Select your payment method (typically a bank account or stablecoin balance).
  • 5. Confirm your purchase order (verification and two-party authentication may apply).
  • 6. Congrats! You just bought your first token.
Now What?

You might have to wait 1-3 business days for your coin to hit your account as you become verified. After that you have several options:

You can “trade” on your crypto.

Just note that the price for cryptocurrency can fluctuate wildly, and unlike most financial markets, it is running 24/7/365. Ultimately people do this to make short term profits and convert their coin back to dollars.

You can “hodl”.

This is comparable to any asset or commodity that you might accrue and let it sit, hoping the value rises over the long term. With many coins, this is actually a safe bet as only 6% of people worldwide own crypto, and that number will only continue to grow.

You can “hodl & stake”.

This is a unique method of holding, similar to a bank, where you delegate coin to a network using the “proof of stake” protocol that earns yield (passive income through rewards) for the person who delegates. This means you can earn additional coin (5%+ APY) and help secure the Cardano network.

As a stake pool, you might guess that staking is our preferred option. You’re right. If you want to learn the next step to take towards staking, read more here. If you want to learn more about staking. Read our article: What is Staking (And Why Does It Matter)?

But remember: Protocols matter. Do your research before investing, or use us as a proxy through our in-depth articles that break down the why and how of choosing the coins we back.

Thought Leadership
Why Sonarch Chose to Stake Cardano?
TL;DR. Sonarch spent months vetting protocols to stake crypto. We chose Cardano for these reasons: 1. Leadership we believe in. 2. That gave power and resources to their people (who they’ll never meet). 3. They support decentralization with a fully-researched proof of Stake design that’s more than lip service. 4. They incentivize small pools to succeed. 5. They have a really, really cool name.
Thought Leadership
Why Sonarch Chose to Stake Avalanche?
TL;DR. In a space that rightfully prizes security over speed, Avalanche is a rarity that supplies both. The combination of low fees, high efficiency, and potential growth are worth a pinch to the arm, followed by a purchase.
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