How to Stake Sky (SKY) in Australia

Introduction

Staking Sky can be a great option for those who want to hold SKY 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 Sky (SKY) Tokens

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

   Platform	Coin	Cost
   Nexo	Sky (SKY)	0.06
   PrimeXBT	Sky (SKY)	0.06
   YouHodler	Sky (SKY)	0.06
   Binance	Sky (SKY)	0.06
   Coinbase	Sky (SKY)	0.06
   Kraken	Sky (SKY)	0.06

   See all 24 prices

2. 2. Choose a Sky Wallet

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

   Platform	Coin	Staking returns
   Binance	Sky (SKY)	Up to 12.75% % p.a.

3. 3. Delegate Your SKY

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