How to Stake Sonic (prev. FTM) (S) in Canada

Introduction to Cryptocurrency in Canada

Staking Sonic (prev. FTM) can be an excellent choice for Canadians looking to hold S 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 Sonic (prev. FTM) (S) Tokens in Canada

   To stake Sonic (prev. FTM), you first need to acquire it. To obtain Sonic (prev. FTM), you'll need to purchase it from one of these popular Canadian exchanges.

   Platform	Coin	Cost
   Nexo	Sonic (prev. FTM) (S)	0.09
   PrimeXBT	Sonic (prev. FTM) (S)	0.08
   YouHodler	Sonic (prev. FTM) (S)	0.08
   Binance	Sonic (prev. FTM) (S)	0.08
   Coinbase	Sonic (prev. FTM) (S)	0.08
   Kraken	Sonic (prev. FTM) (S)	0.08

   See all 41 prices in Canada

2. 2. Select a Sonic (prev. FTM) Wallet in Canada

   Once you have S, you'll need to choose a Sonic (prev. FTM) wallet to store your tokens. Here are some great options available in Canada.

   Platform	Coin	Staking rewards in Canada
   Binance	Sonic (prev. FTM) (S)	Up to 3.5% APY in Canada

   See all 5 staking rewards in Canada

3. 3. Delegate Your S in Canada

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