How to Stake Sky (SKY) in Canada

Introduction to Cryptocurrency in Canada

Staking Sky can be an excellent choice for Canadians looking to hold SKY 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 Sky (SKY) Tokens in Canada

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

2. 2. Select a Sky Wallet in Canada

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

   Platform	Coin	Staking rewards in Canada
   Binance	Sky (SKY)	Up to 12.75% APY in Canada

3. 3. Delegate Your SKY in Canada

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