Introduction

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

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

   E-platform	Coin	Cost
   BTSE	BVM (BVM)	0.05 APY
   Gate.io	BVM (BVM)	0.03 APY

   See all 4 prices in Uganda

2. 2. Select a BVM Wallet

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

3. 3. Delegate Your BVM

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