Earn 6.5% APY staking with Solana Compass
Help decentralize and secure the Solana network delegating your stake to us and earn an impressive 6.5% APY yield on your SOL, while supporting us to create new guides and tools. Learn more
Zero fees until Feb 2022, then just 0.39% annualized. APY based on last 3 epochs average
- Click to connect your wallet
- Enter the amount you wish to stake
- Kick back and enjoy your returns
Solana Coin Mining Guide: Profitability, Rewards & Hardware
Can you mine Solana coins?
No, as a proof of stake coin Solana cannot be mined, no matter how powerful your hardware or deep your pockets.
However Solana does offer two key ways you can help out the network in exchange for rewards:
Staking , where you can stake Solana you already own with a validator to earn rewards. Much as a bank pays interest on your deposits - in exchange for using your savings to fund mortgages and other investments - a Validator in the Solana network will pay your rewards of roughly 8% for allowing your coins to be staked to help confirm transactions on the network.
Validation, where you run a highly powered server in a datacentre that works to confirm transactions on the Solana network. As a validator you can earn a commission on all the rewards generated by people who 'stake' their coins with you, however the startup costs can be prohibitive for many.
How profitable can it be? Do you have a calculator?
For staking you can assume a return of about 8% on the coins you stake. You may wish to check our Solana staking profit calculator to play with some numbers. You
On the flip side becoming a validator is an altogether different undertaking. You'll need considerable linux devops skills, access to an expensive server (roughly $30k per year), and either an impressive stash of your own SOL (50,000 would be ideal) or the diamond hands to spend 100s of SOL yourself on voting fees while you grow your own validator's share of stake. Check our article on how much validators make for more.
What kind of hardware do you need to be a validator?
The faster the better, but expect to need :
- A 12+ core CPU, ideally with a high clock speed (eg old Xeons may be too slow)
- 128GB RAM minimum
- 1TB NvME SSD or more
- Some also recommend a modern GPU
- 1 gbps unmetered connection
What's the difficulty like?
To be a Solana staker - easy! You can get started in as little as 3 clicks.
To be a validator .. lets be honest, the learning curve is pretty steep!
In that case.. can you recommend a Solana staking pool?
In the world of Solana staking we call them 'Validators', and you can find our guide to choosing the best solana validators here. You can also explore our list of the top validators to find some great smaller validators with excellent APY returns. By staking with a smaller validator you help secure and decentralize the Solana network, as well as often beating the returns in APY of the larger validators.
We also run a small Solana validator ourselves that has great hardware, low active stake, high APY, and is located in a less crowded datacenter. If you decide to stake with us you not only will get a great APY return, but you'll be doing your bit to help decentralize Solana and protect your investment in the long term. And you'll also help us build more guides and tools to help the ecosystem - win-win! 🤝
An alternative to staking directly with a validator is to use a Solana staking pool, where your stake will be automatically split and distributed amongst multiple validators.
On this page
- Our Validator
- Liquidity Pools
- Token Swaps & Trading
- Yield Farming
- Solana Explained
- Is Solana an Ethereum killer?
- Transaction Fees
- Why Is Solana Going Up?
- Solana's History
- What makes Solana Unique?
- What Is Solana?
- How To Buy Solana
- Solana's Best Projects: Dapps, Defi & NFTs
- Choosing The Best Solana Validator
- Staking Rewards Calculator
- Can You Mine Solana?
- Solana Staking Pools
- Staking On Solana
- How validators earn
- Best Wallets For Solana