How to Stake Solana (SOL) in Australia

Introduction

Staking Solana can be a great option for those who want to hold SOL 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 Solana (SOL) Tokens

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

   Platform	Coin	Cost
   Nexo	Solana (SOL)	140.09
   PrimeXBT	Solana (SOL)	139.6
   EarnPark	Solana (SOL)	140.26
   YouHodler	Solana (SOL)	139.87
   Binance	Solana (SOL)	139.76
   BTSE	Solana (SOL)	139.73

   See all 84 prices

2. 2. Choose a Solana Wallet

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

   Platform	Coin	Staking returns
   YouHodler	Solana (SOL)	Up to 13% % p.a.
   Uphold	Solana (SOL)	Up to 5.8% % p.a.
   Validator.com	Solana (SOL)	Up to 8.62% % p.a.
   Bake	Solana (SOL)	Up to 5.25% % p.a.
   Binance	Solana (SOL)	Up to 5.5% % p.a.

   View all 41 staking rewards

3. 3. Delegate Your SOL

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