How to Stake Sommelier (SOMM) in the UK

Introduction

Staking Sommelier can be an excellent option for those who wish to hold SOMM while earning AER in a secure manner and contributing to the network. The process may seem a bit overwhelming, particularly the first time you undertake it. That's why we've compiled this guide for you.

Step-by-Step Guide

1. 1. Obtain Sommelier (SOMM) Tokens

   To stake Sommelier, you need to possess it. To obtain Sommelier, you'll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   CoinEx	Sommelier (SOMM)	0
   Gate.io	Sommelier (SOMM)	0.000991

   View all 4 prices

2. 2. Choose a Sommelier Wallet

   Once you have SOMM, you'll need to choose a Sommelier wallet to store your tokens. Here are some suitable options.

   Platform	Coin	Staking rewards
   Everstake	Sommelier (SOMM)	Up to 2.66% AER
   Stakewolle	Sommelier (SOMM)	Up to 10.3% AER

   View all 4 staking rewards

3. 3. Delegate Your SOMM

   We recommend using a staking pool when staking SOMM. It's simpler and quicker to get started. A staking pool is a group of validators who combine their SOMM, which increases their chances of validating transactions and earning rewards. You can do 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 is confirmed, you will automatically validate transactions on the Sommelier network. You will be rewarded with SOMM for these validations.

What to Be Aware Of

There are transaction and staking pool fees you need to consider. There may also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.