How to Stake Stellar (XLM) in Canada

Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   Nexo	Stellar (XLM)	0.21
   PrimeXBT	Stellar (XLM)	0.21
   EarnPark	Stellar (XLM)	0.21
   YouHodler	Stellar (XLM)	0.21
   Binance	Stellar (XLM)	0.21
   Coinbase	Stellar (XLM)	0.21

   See all 70 prices in Canada

2. 2. Select a Stellar Wallet in Canada

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

   Platform	Coin	Staking rewards in Canada
   YouHodler	Stellar (XLM)	Up to 9% APY in Canada

3. 3. Delegate Your XLM in Canada

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