How to Stake Sky (SKY)

Introduction

Staking Sky can be an excellent choice for those looking to hold SKY 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 Sky (SKY) Tokens

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

   Plattform	Kryptowährung	Price
   Nexo	Sky (SKY)	0,06 APY
   PrimeXBT	Sky (SKY)	0,06 APY
   YouHodler	Sky (SKY)	0,06 APY
   Binance	Sky (SKY)	0,06 APY
   Coinbase	Sky (SKY)	0,06 APY
   Kraken	Sky (SKY)	0,06 APY

   View all 24 prices

2. 2. Select a Sky Wallet

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

   Plattform	Kryptowährung	Staking rewards
   Binance	Sky (SKY)	Up to 12,75 % APY

3. 3. Delegate Your SKY

   We recommend using a staking pool when staking SKY. It's simpler and faster to get started. A staking pool is a collective of validators who pool their SKY, 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 Sky network. For these validations, you will be rewarded with SKY.

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.