How to Stake Sommelier (SOMM)

Introduction

Staking Sommelier can be an excellent choice for those looking to hold SOMM 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 Sommelier (SOMM) Tokens

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

   Plattform	Kryptowährung	Price
   CoinEx	Sommelier (SOMM)	0 APY
   Gate.io	Sommelier (SOMM)	0,000991 APY

   View all 4 prices

2. 2. Select a Sommelier Wallet

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

   Plattform	Kryptowährung	Staking rewards
   Everstake	Sommelier (SOMM)	Up to 2,66 % APY
   Stakewolle	Sommelier (SOMM)	Up to 10,3 % APY

   Discover all 4 staking rewards available

3. 3. Delegate Your SOMM

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

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.