Introduction
Staking Sonic (prev. FTM) can be an excellent choice for those looking to hold S while earning returns in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this guide specifically for you.
Step-by-Step Guide for Indian Investors
1. Acquire Sonic (prev. FTM) (S) Tokens in India
To stake Sonic (prev. FTM), you first need to acquire it. To obtain Sonic (prev. FTM), you will have to purchase it from a cryptocurrency exchange. You can select from these popular platforms available in India.
2. Choose a Sonic (prev. FTM) Wallet in India
Once you have S, you'll need to choose a Sonic (prev. FTM) wallet to securely store your tokens. Here are some reliable options available in India.
View all 5 staking rewards available in IndiaPlatform Coin Staking rewards in India Binance Sonic (prev. FTM) (S) Up to 3.5% APY 3. Delegate Your S in India
We recommend using a staking pool when staking S. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their S, increasing their chances of validating transactions and earning rewards. You can easily do this through your wallet's interface.
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 Sonic (prev. FTM) network. For these validations, you will be rewarded with S.
What to Keep in Mind
When engaging in staking, it's important to factor in transaction fees and staking pool charges. Additionally, there may be a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take some time to accomplish.
Latest Trends in India
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- Market capitalization
- $205.13Cr
- 24-hour trading volume
- $31.48L
- Circulating supply in the market
- 317.5Cr S
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