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An in-depth guide on how to stake Sky (SKY)
We have a lot of data on staking Sky (SKY) and we share some of this with you.
We show you some staking options with other coins that could be of interest.
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Staking Sky can be a great option for those who want to hold SKY but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
In order to stake Sky, you need to have it. To obtain Sky, you'll need to purchase it. You can choose from these popular exchanges.
Once you have SKY, you’ll need to choose a Sky wallet to store your tokens. Here are some good options.
We recommend using a staking pool when staking SKY. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their SKY, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the Sky network. You’ll be rewarded with SKY for these validations.
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
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