How to Stake Secret (SCRT) for optimal returns

Introduction

Staking Secret can be an excellent choice for those looking to hold SCRT 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 Secret (SCRT) Tokens

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

   플랫폼	코인	Price
   Kraken	Secret (SCRT)	0.18 APY
   Binance	Secret (SCRT)	0.18 APY
   BingX	Secret (SCRT)	0.43 APY
   Bitmart	Secret (SCRT)	0.18 APY
   Bitpanda	Secret (SCRT)	0.68 APY
   Bybit	Secret (SCRT)	0.18 APY

   Check out all 24 prices

2. 2. Select a Secret Wallet

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

   플랫폼	코인	Staking 보상
   Bitpanda	Secret (SCRT)	Up to 10% APY
   MyCointainer	Secret (SCRT)	Up to 23.1% APY
   Stakely.io	Secret (SCRT)	Up to 20.21% APY

   Check out all 9 staking rewards available.

3. 3. Delegate Your SCRT in South Korea

   We recommend using a staking pool when staking SCRT. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their SCRT, 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 Secret network. For these validations, you will be rewarded with SCRT.

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.