Introduction

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

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

   E-platform	Coin	Cost
   Binance	Lisk (LSK)	0.21 APY
   Kraken	Lisk (LSK)	0.21 APY
   OKX	Lisk (LSK)	0.58 APY
   BingX	Lisk (LSK)	0.21 APY
   Bitget	Lisk (LSK)	0.2 APY
   Bitpanda	Lisk (LSK)	1.22 APY

   See all 29 prices in Uganda

2. 2. Select a Lisk Wallet

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

3. 3. Delegate Your LSK

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