How to Stake Sommelier (SOMM)

Introduction

Staking Sommelier can be an excellent choice for those looking to hold SOMM 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 Sommelier (SOMM) Tokens

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

   Piattaforma	Criptovaluta	Value
   CoinEx	Sommelier (SOMM)	0 APY
   Gate.io	Sommelier (SOMM)	0,000991 APY

   Check out all 4 prices

2. 2. Select a Sommelier Wallet

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

   Piattaforma	Criptovaluta	Staking rewards
   Everstake	Sommelier (SOMM)	Up to 2,66% APY
   Stakewolle	Sommelier (SOMM)	Up to 10,3% APY

   Discover all 4 staking rewards available to you

3. 3. Delegate Your SOMM

   We recommend using a staking pool when staking SOMM. It's more straightforward and quicker to get started. A staking pool is a collective of validators who pool their SOMM, 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 Sommelier network. For these validations, you'll receive rewards in SOMM.

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.