Where and How to Stake Sky (SKY)

Introduction

Staking Sky can be a great option for those who want to hold SKY but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That's why we've put this guide together for you.

Step-by-Step Guide

1. 1. Obtain Sky (SKY) Tokens

   In order to stake Sky, you need to have it. To obtain Sky, you'll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Nexo	Sky (SKY)	0.06
   PrimeXBT	Sky (SKY)	0.06
   YouHodler	Sky (SKY)	0.06
   Binance	Sky (SKY)	0.06
   Coinbase	Sky (SKY)	0.06
   Kraken	Sky (SKY)	0.06

   See all 24 prices

2. 2. Choose a Sky Wallet

   Once you have SKY, you'll need to choose a Sky wallet to store your tokens. Here are some good options.

   Platform	Coin	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 simpler and faster to get up-and-running. A staking pool is a group of validators who combine their SKY, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Start Validating

   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. You'll be rewarded with SKY for these validations.

What to be Aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.