How to Stake aelf (ELF)

Introduction

Staking aelf can be an excellent choice for those looking to hold ELF while earning APY in a secure manner and supporting the network. The process might seem a bit overwhelming, particularly if you're doing it for the first time. That's why we've created this guide specifically for you.

Step-by-Step Guide for Ugandan Investors

1. 1. Acquire aelf (ELF) Tokens

   To stake aelf, you first need to acquire it. To obtain aelf, you will have to buy it. You can select from these well-known exchanges available in Uganda.

   E-platform	Coin	Cost
   Binance	aelf (ELF)	0.23 APY
   OKX	aelf (ELF)	0.25 APY
   Uphold	aelf (ELF)	0.22 APY
   Bake	aelf (ELF)	0.08 APY
   BingX	aelf (ELF)	0.2 APY
   Bitget	aelf (ELF)	0.11 APY

   See all 25 prices in Uganda

2. 2. Select a aelf Wallet

   Once you have ELF, you'll need to select a aelf wallet to securely store your tokens. Here are some reliable options to consider.

3. 3. Delegate Your ELF

   We recommend using a staking pool when staking ELF. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their ELF, which increases their chances of validating transactions and earning rewards. You can manage 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 aelf network. You'll be rewarded with ELF for these validations.

What to Keep in Mind

There are transaction and staking pool fees you need to keep in mind. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, which can take a bit of time.