Polkadot-JS UI: How Can I Change the Destination Account of My Staking Rewards? Print
Modified on: Mon, 12 Aug, 2024 at 11:45 AM
Start your staking journey or explore more information about staking on Polkadot's Home Page. Discover the new Staking Dashboard that makes staking much easier and check our extensive article list to help you get started.
‼️ IMPORTANT
Polkadot-JS UI is a web wallet meant for power users and developers. For everyday use, there are several user-friendly wallets funded by the Polkadot Treasury that support a plethora of features and platforms. Discover them on Polkadot's homepage.⚠️ ATTENTION
Controller accounts are being deprecated. You can still use existing ones for now, but creating new ones is no longer possible.
It is recommended to set your stash account as its own controller (learn how to do it here) and create a staking proxy to obtain the same benefits and greater flexibility.
Check out the article on creating a proxy account for more information.
You can choose to direct your staking rewards to any account you want to, and you can change your mind anytime.
To send your staking rewards to a different account:
1. Make sure you staking account is connected to the site, and go to the Account Actions in the Staking section of Polkadot-JS UI.
2. Click on the three dots next to your stash account.
3. Select "Change reward destination" from the menu.
You can choose the following options:
- Stash account as stake. Send your staking rewards to your stash and bond them so your stash keeps growing and your rewards compound.
- Stash account as free balance. Send your staking rewards to your stash without bonding them so they remain transferrable and you can send them out of your account anytime.
- Controller account. Send them to your controller account. It might be the stash account itself.
- Specific payment account. Send them to any other account you own and have listed on your accounts page. You can send your rewards to any account by pasting it into the additional field.
⛔ READ THIS FIRST!
Make sure that you have at least 1 DOT in the account that you are directing your staking rewards to. If you receive rewards of less than 1 DOT and they are sent to an empty account, you will lose them. This has to do with the existential deposit on Polkadot.
4. Once you've made your selection, click on "Set Rewards Destination" and confirm the transaction.
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Disclaimer: We always strive to provide you with the best support we can and we take all care to ensure that our instructions are accurate and concise. However, following these instructions properly, as well as the general management of your accounts and funds, is ultimately your responsibility. Web3 Foundation cannot be held liable for any accidental loss of funds or any other damage you might incur.
