Earn up to
2.66% APY in Canada
An in-depth guide on how to stake Sommelier (SOMM) in Canada
We have a wealth of information on staking Sommelier (SOMM) 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.
Sommelier (SOMM) is currently priced at US$2.66 with a 24-hour trading volume of US$7,002.83. The market cap of Sommelier stands at US$4.53M, with 310.79M SOMM in circulation. For those looking to buy or trade Sommelier, Everstake offers avenues to do so securely and efficiently
Staking Sommelier can be an excellent choice for Canadians looking to hold SOMM 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 Sommelier, you first need to acquire it. To obtain Sommelier, you'll need to purchase it from one of these popular Canadian exchanges.
| Platform | Coin | Cost |
|---|---|---|
| CoinEx | Sommelier (SOMM) | 0 |
| Gate.io | Sommelier (SOMM) | 0.000991 |
Once you have SOMM, you'll need to choose a Sommelier wallet to store your tokens. Here are some great options available in Canada.
| Platform | Coin | Staking rewards in Canada |
|---|---|---|
| Everstake | Sommelier (SOMM) | Up to 2.66% APY in Canada |
| Stakewolle | Sommelier (SOMM) | Up to 10.3% APY in Canada |
We recommend using a staking pool when staking SOMM. It's simpler and faster to get started. A staking pool is a group of validators who combine their SOMM, 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 Sommelier network. You'll be rewarded with SOMM 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.
SOMM
ADA
BCH
BNB
BTC
DOGE
ETH
FIGR_HELOC
LINK
SOL
STETH
TRX
USDC
