How to Stake Kusama (KSM) in Canada

Introduction to Cryptocurrency in Canada

Staking Kusama can be an excellent choice for Canadians looking to hold KSM 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.

Step-by-Step Guide for Canadians

1. 1. Acquire Kusama (KSM) Tokens in Canada

   To stake Kusama, you first need to acquire it. To obtain Kusama, you'll need to purchase it from one of these popular Canadian exchanges.

   Platform	Coin	Cost
   Nexo	Kusama (KSM)	7.44
   Binance	Kusama (KSM)	7.41
   BTSE	Kusama (KSM)	7.4
   Coinbase	Kusama (KSM)	7.41
   Kraken	Kusama (KSM)	7.38
   OKX	Kusama (KSM)	18.08

   See all 48 prices in Canada

2. 2. Select a Kusama Wallet in Canada

   Once you have KSM, you'll need to choose a Kusama wallet to store your tokens. Here are some great options available in Canada.

   Platform	Coin	Staking rewards in Canada
   Uphold	Kusama (KSM)	Up to 4.8% APY in Canada
   Binance	Kusama (KSM)	Up to 10.9% APY in Canada
   Bitpanda	Kusama (KSM)	Up to 14% APY in Canada

   See all 17 staking rewards in Canada

3. 3. Delegate Your KSM in Canada

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

4. 4. Start Validating

   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 Kusama network. You'll be rewarded with KSM for these validations.

What Canadians Should Be Aware Of

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.