Earn up to
10.35% APY in Canada
An in-depth guide on how to stake SKALE (SKL) in Canada
We have a wealth of information on staking SKALE (SKL) and we're excited to share some of this with you.
We present you with various staking options featuring other cryptocurrencies that may pique your interest.
SKALE (SKL) is currently priced at US$10.35 with a 24-hour trading volume of US$25.01M. The market cap of SKALE stands at US$227.6M, with 5.18B SKL in circulation. For those looking to buy or trade SKALE, Chainode Tech offers avenues to do so securely and efficiently
Staking SKALE can be an excellent choice for Canadians looking to hold SKL 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 SKALE, you first need to acquire it. To obtain SKALE, you'll need to purchase it from one of these popular Canadian 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 |
Once you have SKL, you'll need to choose a SKALE wallet to store your tokens. Here are some great options available in Canada.
We recommend using a staking pool when staking SKL. It's simpler and faster to get started. A staking pool is a group of validators who combine their SKL, 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 SKALE network. You'll be rewarded with SKL 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.
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