How to Stake Songbird (SGB)

Introduction

Staking Songbird can be an excellent choice for those looking to hold SGB 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 Songbird (SGB) Tokens

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

   Plattform	Kryptowährung	Price
   YouHodler	Songbird (SGB)	0 APY
   Kraken	Songbird (SGB)	0 APY
   Uphold	Songbird (SGB)	0,01 APY
   Bitstamp	Songbird (SGB)	0 APY
   CoinEx	Songbird (SGB)	0 APY
   Gate.io	Songbird (SGB)	0 APY

   View all 14 prices

2. 2. Select a Songbird Wallet

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

   Plattform	Kryptowährung	Staking rewards
   Uphold	Songbird (SGB)	Up to 6,06 % APY

3. 3. Delegate Your SGB

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

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.