Introduction
Staking Sui can be an excellent choice for individuals in the UAE looking to hold SUI 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. Acquire Sui (SUI) Tokens
To stake Sui, you first need to acquire it. To obtain Sui, you will need to purchase it from one of the popular exchanges available in the UAE.
2. Select a Sui Wallet
Once you have SUI, you'll need to select a Sui wallet to securely store your tokens. Here are some excellent options available in the UAE market.
3. Delegate Your SUI in the UAE
We recommend utilizing a staking pool when staking SUI. It’s more straightforward and quicker to get started. A staking pool consists of a group of validators who pool their SUI, increasing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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 Sui network. For these validations, you will be rewarded with SUI.
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.
Recent Developments
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- Market capitalization
- $14.6B
- 24-hour trading volume
- $1.93B
- Circulating supply
- 3.01B SUI
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