How to Stake Kusama (KSM)

Introduction

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

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

   E-platform	Coin	Cost
   Nexo	Kusama (KSM)	14.72 APY
   Binance	Kusama (KSM)	14.68 APY
   BTSE	Kusama (KSM)	14.66 APY
   Coinbase	Kusama (KSM)	14.71 APY
   Kraken	Kusama (KSM)	14.71 APY
   OKX	Kusama (KSM)	18.08 APY

   See all 48 prices in Uganda

2. 2. Select a Kusama Wallet

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

   E-platform	Coin	Staking rewards in Uganda
   Uphold	Kusama (KSM)	Up to 4.8% APY
   Binance	Kusama (KSM)	Up to 10.9% APY
   Bitpanda	Kusama (KSM)	Up to 14% APY

   View all 17 staking rewards available.

3. 3. Delegate Your KSM

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