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Staking Klaytn can be an excellent choice for Canadians looking to hold KLAY while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this guide specifically for you.
To stake Klaytn, you first need to acquire it. To obtain Klaytn, you'll need to purchase it from one of these popular Canadian exchanges.
| Platform | Coin | Cost |
|---|---|---|
| Binance | Klaytn (KLAY) | 0.13 |
| Uphold | Klaytn (KLAY) | 0.26 |
| Kucoin | Klaytn (KLAY) | 0.12 |
| Probit | Klaytn (KLAY) | 0.1 |
Once you have KLAY, you'll need to choose a Klaytn wallet to store your tokens. Here are some great options available in Canada.
We recommend using a staking pool when staking KLAY. It's simpler and faster to get started. A staking pool is a group of validators who combine their KLAY, which increases their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
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 Klaytn network. You'll be rewarded with KLAY for these validations.
In Canada, it's important to consider transaction and staking pool fees. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, which can take some time.
