How to Stake Kusama (KSM) for optimal returns

Introduction

Staking Kusama can be an excellent choice for those looking to hold KSM while earning APY 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 to assist you.

Step-by-Step Guide for South Korea's Financial Landscape 1

1. 1. Acquire Kusama (KSM) Tokens

   To stake Kusama, you first need to acquire it. To obtain Kusama, you'll need to purchase it from a cryptocurrency exchange. You can choose from these popular platforms available in South Korea.

   플랫폼	코인	Price
   Nexo	Kusama (KSM)	14.77 APY
   Binance	Kusama (KSM)	14.72 APY
   BTSE	Kusama (KSM)	14.74 APY
   Coinbase	Kusama (KSM)	14.7 APY
   Kraken	Kusama (KSM)	14.75 APY
   OKX	Kusama (KSM)	18.08 APY

   Check out all 48 prices

2. 2. Select a Kusama Wallet

   Once you have KSM, you'll need to select a Kusama wallet to securely store your tokens. Here are some recommended options that are popular among Korean users.

   플랫폼	코인	Staking 보상
   Uphold	Kusama (KSM)	Up to 4.8% APY
   Binance	Kusama (KSM)	Up to 10.9% APY
   Bitpanda	Kusama (KSM)	Up to 14% APY

   Check out all 17 staking rewards available.

3. 3. Delegate Your KSM in South Korea

   We recommend using a staking pool when staking KSM. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their KSM, increasing their chances of validating transactions and earning rewards. You can easily manage 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's confirmed, you will automatically validate transactions on the Kusama network. For these validations, you will be rewarded with KSM.

What to Keep in Mind

You should be aware of the transaction and staking pool fees that apply. Additionally, there may be a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time in the process.