How to Stake Ethena (ENA)

Introduction

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

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

   E-platform	Coin	Cost
   PrimeXBT	Ethena (ENA)	0.2 APY
   YouHodler	Ethena (ENA)	0.2 APY
   Binance	Ethena (ENA)	0.2 APY
   BTSE	Ethena (ENA)	0.2 APY
   Coinbase	Ethena (ENA)	0.2 APY
   Kraken	Ethena (ENA)	0.2 APY

   See all 55 prices in Uganda

2. 2. Select a Ethena Wallet

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

   E-platform	Coin	Staking rewards in Uganda
   YouHodler	Ethena (ENA)	Up to 15% APY

3. 3. Delegate Your ENA

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