How to Stake SKALE (SKL) for better returns

Introduction

Staking SKALE can be an excellent choice for individuals looking to hold SKL while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-time users. That's why we have created this comprehensive guide to assist you.

Step-by-Step Guide

1. 1. Acquire SKALE (SKL) Tokens

   To stake SKALE, you first need to acquire it. To obtain SKALE, you can purchase it from these well-known exchanges.

   平台	Coin	Price
   Binance	SKALE (SKL)	0.02 APY
   BTSE	SKALE (SKL)	0.02 APY
   Coinbase	SKALE (SKL)	0.02 APY
   OKX	SKALE (SKL)	0.03 APY
   Uphold	SKALE (SKL)	0.02 APY
   Azbit	SKALE (SKL)	0.02 APY

   View all 49 prices

2. 2. Select a SKALE Wallet for Your Needs

   Once you have SKL, you'll need to select a SKALE wallet to securely store your tokens. Here are some excellent options to consider.

3. 3. Delegate Your SKL for Enhanced Returns

   We recommend utilizing a staking pool when staking SKL. It is more straightforward and quicker to get started. A staking pool consists of a collective of validators who pool their SKL, enhancing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.

4. 4. Begin Verification

   You will need to wait for your deposit to be confirmed by your wallet. Once it is confirmed, you will automatically validate transactions on the SKALE network. For these validations, you will be rewarded with SKL.

What to Consider in the Chinese Market

When engaging in transactions and participating in staking pools, it's important to factor in the associated fees. Additionally, there may be a waiting period before you begin to receive rewards. The staking pool must successfully generate blocks, which can require some time to accomplish.