How to Stake Amp (AMP)

Introduction

Staking Amp can be an excellent choice for those looking to hold AMP 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 Amp (AMP) Tokens

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

   E-platform	Coin	Cost
   Binance	Amp (AMP)	0 APY
   Coinbase	Amp (AMP)	0 APY
   Uphold	Amp (AMP)	0 APY
   BingX	Amp (AMP)	0 APY
   Bitget	Amp (AMP)	0 APY
   Bitmart	Amp (AMP)	0 APY

   See all 27 prices in Uganda

2. 2. Select a Amp Wallet

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

3. 3. Delegate Your AMP

   We recommend using a staking pool when staking AMP. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their AMP, 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 Amp network. You'll be rewarded with AMP 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.