Introduction

Staking Onomy Protocol can be an excellent choice for individuals in the UAE looking to hold NOM 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.

Step-by-Step Guide for UAE Residents

1. 1. Acquire Onomy Protocol (NOM) Tokens

   To stake Onomy Protocol, you first need to acquire it. To obtain Onomy Protocol, you will need to purchase it from one of the popular exchanges available in the UAE.

   Platform	Cryptocurrency	Price
   BingX	Onomy Protocol (NOM)	0.03
   Kucoin	Onomy Protocol (NOM)	0.01

2. 2. Select a Onomy Protocol Wallet

   Once you have NOM, you'll need to select a Onomy Protocol wallet to securely store your tokens. Here are some excellent options available in the UAE market.

3. 3. Delegate Your NOM in the UAE

   We recommend utilizing a staking pool when staking NOM. It’s more straightforward and quicker to get started. A staking pool consists of a group of validators who pool their NOM, increasing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 4. Begin Verification

   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 Onomy Protocol network. For these validations, you will be rewarded with NOM.

What to Consider in the UAE Market

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.