How to Stake Chromia (CHR)

Introduction

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

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

   E-platform	Coin	Cost
   PrimeXBT	Chromia (CHR)	0.04 APY
   Binance	Chromia (CHR)	0.04 APY
   Uphold	Chromia (CHR)	0.09 APY
   BingX	Chromia (CHR)	0.04 APY
   Bitget	Chromia (CHR)	0.04 APY
   Bitmart	Chromia (CHR)	0.05 APY

   See all 25 prices in Uganda

2. 2. Select a Chromia Wallet

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

   E-platform	Coin	Staking rewards in Uganda
   Binance	Chromia (CHR)	Up to 2.4% APY

   View all 4 staking rewards available.

3. 3. Delegate Your CHR

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