Earn up to
9.5% APY in the UAE.
An in-depth guide on how to stake Kusama (KSM) in the UAE
We have extensive information on staking Kusama (KSM), and we are pleased to share some of these insights with you.
We present you with various staking options featuring different cryptocurrencies that may pique your interest.
Kusama (KSM) is currently priced at $10 with a 24-hour trading volume of $19.06M. The market cap of Kusama stands at $484.59M, with 15.96M KSM in circulation. For those looking to buy or trade Kusama, Uphold offers avenues to do so securely and efficiently
Staking Kusama can be an excellent choice for individuals in the UAE looking to hold KSM while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-time users. That’s why we’ve created this guide to assist you.
To stake Kusama, you first need to acquire it. To obtain Kusama, you will need to purchase it from one of the popular exchanges available in the UAE.
| Platform | Cryptocurrency | Price |
|---|---|---|
| Nexo | Kusama (KSM) | 7.62 |
| Binance | Kusama (KSM) | 7.59 |
| BTSE | Kusama (KSM) | 7.58 |
| Coinbase | Kusama (KSM) | 7.59 |
| Kraken | Kusama (KSM) | 7.57 |
| OKX | Kusama (KSM) | 18.08 |
Once you have KSM, you'll need to select a Kusama wallet to securely store your tokens. Here are some excellent options available in the UAE market.
| Platform | Cryptocurrency | Staking rewards in the UAE |
|---|---|---|
| Uphold | Kusama (KSM) | Up to 4.8% APY |
| Binance | Kusama (KSM) | Up to 10.9% APY |
| Bitpanda | Kusama (KSM) | Up to 14% APY |
We recommend utilizing a staking pool when staking KSM. It’s more straightforward and quicker to get started. A staking pool consists of a group of validators who pool their KSM, increasing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
You will need to wait for your deposit to be confirmed by your digital wallet. Once it's confirmed, you will automatically validate transactions on the Kusama network. For these validations, you will be rewarded with KSM.
In the UAE, it's important to factor in transaction and staking pool fees when engaging in cryptocurrency activities. Additionally, you may experience a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take some time to accomplish.
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