How to Stake Sifchain (EROWAN)

Introduction

Staking Sifchain can be an excellent choice for those looking to hold EROWAN 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've created this guide to assist you.

Step-by-Step Anleitung

1. 1. Acquire Sifchain (EROWAN) Tokens

   To stake Sifchain, you first need to acquire it. To obtain Sifchain, you'll need to purchase it. You can choose from these well-known exchanges available in Germany.

2. 2. Select a Sifchain Wallet

   Once you have EROWAN, you'll need to select a Sifchain wallet to securely store your tokens. Here are some solid options to consider.

   Plattform	Kryptowährung	Staking rewards
   Stakewolle	Sifchain (EROWAN)	Up to 62,93 % APY

3. 3. Delegate Your EROWAN

   We recommend using a staking pool when staking EROWAN. It's simpler and faster to get started. A staking pool is a collective of validators who pool their EROWAN, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 4. Start Validating

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

What to Consider

There are transaction and staking pool fees you need to consider. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, and this process can take some time.