How to Stake Sifchain (EROWAN) in Australia

Introduction

Staking Sifchain can be a great option for those who want to hold EROWAN while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.

Step-by-Step Guide

1. 1. Obtain Sifchain (EROWAN) Tokens

   To stake Sifchain, you need to own it. To obtain Sifchain, you'll need to buy it. You can choose from these popular exchanges.

2. 2. Choose a Sifchain Wallet

   Once you have EROWAN, you'll need to choose a Sifchain wallet to store your tokens. Here are some great options.

   Platform	Coin	Staking returns
   Stakewolle	Sifchain (EROWAN)	Up to 62.93% % p.a.

3. 3. Delegate Your EROWAN

   We recommend using a staking pool when staking EROWAN. It's simpler and quicker to get started. A staking pool is a group of validators who combine their EROWAN, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Begin Validation

   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 Sifchain network. You'll be rewarded with EROWAN for these validations.

What to Be Aware Of

There are transaction and staking pool fees to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.