How to Stake SKALE (SKL) in Australia

Introduction

Staking SKALE can be a great option for those who want to hold SKL 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 SKALE (SKL) Tokens

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

   Platform	Coin	Cost
   Binance	SKALE (SKL)	0.01
   BTSE	SKALE (SKL)	0.01
   Coinbase	SKALE (SKL)	0.01
   OKX	SKALE (SKL)	0.03
   Uphold	SKALE (SKL)	0.02
   Azbit	SKALE (SKL)	0.01

   See all 50 prices

2. 2. Choose a SKALE Wallet

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

3. 3. Delegate Your SKL

   We recommend using a staking pool when staking SKL. It's simpler and quicker to get started. A staking pool is a group of validators who combine their SKL, 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 SKALE network. You'll be rewarded with SKL 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.