Introduction
Staking SKALE can be a great option for those who want to hold SKL but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-step
- 1
Obtain SKALE (SKL) tokens
In order to stake SKALE, you need to have it. To obtain SKALE, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a SKALE wallet
Once you have SKL, you’ll need to choose a SKALE wallet to store your tokens. Here are some good options.
- 3
Delegate your SKL
We recommend using a staking pool when staking SKL. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their SKL, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
- 4
Start validating
You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the SKALE network. You’ll be rewarded with SKL for these validations.
What to be aware of
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
Latest movements
SKALE (SKL) is currently priced at $0.0483, with a 24-hour trading volume of $27.91M. In the last 24 hours, SKALE has experienced a decrease to -0.77. The market cap of SKALE stands at $242.49M, with 5.38B in circulation. For those looking to buy or trade SKALE, reputable platforms like Uphold, Binance, OKX, Coinbase, BTSE and Bitmart offer avenues to do so securely and efficiently.
- Market cap
- $242.49M
- Volume
- $27.91M
- Circulating supply
- $5.38B
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