How to Stake Sky (SKY)

Introduction

Staking Sky can be an excellent choice for those looking to hold SKY while earning APY in a secure manner and supporting the network. The process may seem a bit intimidating, particularly for first-timers. That’s why we’ve created this guide to assist you.

Step-by-Step Guide for Italian Investors

1. 1. Acquire Sky (SKY) Tokens

   To stake Sky, you must first acquire it. To obtain Sky, you'll need to buy it. You can select from these well-known exchanges available in Italy.

   Piattaforma	Criptovaluta	Value
   Nexo	Sky (SKY)	0,06 APY
   PrimeXBT	Sky (SKY)	0,06 APY
   YouHodler	Sky (SKY)	0,06 APY
   Binance	Sky (SKY)	0,06 APY
   Coinbase	Sky (SKY)	0,06 APY
   Kraken	Sky (SKY)	0,06 APY

   Check out all 24 prices

2. 2. Select a Sky Wallet

   Once you have SKY, you'll need to select a Sky wallet to securely store your tokens. Here are some excellent options tailored for the Italian market.

   Piattaforma	Criptovaluta	Staking rewards
   Binance	Sky (SKY)	Up to 12,75% APY

3. 3. Delegate Your SKY

   We recommend using a staking pool when staking SKY. It's more straightforward and quicker to get started. A staking pool is a collective of validators who pool their SKY, enhancing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 4. Begin the Validation Process

   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. For these validations, you'll receive rewards in SKY.

What to Consider in Italy

When engaging in staking, it's important to factor in the transaction and staking pool fees. Additionally, you may encounter a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time.