How to Stake Sommelier (SOMM) in Canada

Introduction to Cryptocurrency in Canada

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.

Step-by-Step Guide for Canadians

1. 1. Acquire Sommelier (SOMM) Tokens in Canada

   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

   See all 4 prices in Canada

2. 2. Select a Sommelier Wallet in Canada

   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

   See all 4 staking rewards in Canada

3. 3. Delegate Your SOMM 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.

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 Sommelier network. You'll be rewarded with SOMM 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.