How to Stake Flare (FLR)

Introduction

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

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

   E-platform	Coin	Cost
   YouHodler	Flare (FLR)	0.01 APY
   Coinbase	Flare (FLR)	0.01 APY
   Kraken	Flare (FLR)	0.01 APY
   OKX	Flare (FLR)	0.02 APY
   Uphold	Flare (FLR)	0.02 APY
   BingX	Flare (FLR)	0.01 APY

   See all 42 prices in Uganda

2. 2. Select a Flare Wallet

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

   E-platform	Coin	Staking rewards in Uganda
   Uphold	Flare (FLR)	Up to 5.07% APY
   CEX.io	Flare (FLR)	Up to 5% APY

   View all 4 staking rewards available.

3. 3. Delegate Your FLR

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