How to Stake SKALE (SKL) for optimal returns

Introduction

Staking SKALE can be an excellent choice for those looking to hold SKL 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 SKALE (SKL) Tokens

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

   플랫폼	코인	Price
   Binance	SKALE (SKL)	0.01 APY
   BTSE	SKALE (SKL)	0.01 APY
   Coinbase	SKALE (SKL)	0.01 APY
   OKX	SKALE (SKL)	0.03 APY
   Uphold	SKALE (SKL)	0.02 APY
   Azbit	SKALE (SKL)	0.01 APY

   Check out all 50 prices

2. 2. Select a SKALE Wallet

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

3. 3. Delegate Your SKL in South Korea

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

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.