How to Stake Merlin Chain (MERL): A Step-by-Step Guide for Ugandans

Introduction

Staking Merlin Chain can be an excellent choice for those looking to hold MERL 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. Acquire Merlin Chain (MERL) Tokens

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

E-platform	Coin	Cost
PrimeXBT	Merlin Chain (MERL)	0.32 APY
BTSE	Merlin Chain (MERL)	0.32 APY
Kraken	Merlin Chain (MERL)	0.32 APY
OKX	Merlin Chain (MERL)	0.11 APY
BingX	Merlin Chain (MERL)	0.32 APY
Bitget	Merlin Chain (MERL)	0.32 APY

See all 32 prices in Uganda

2. Select a Merlin Chain Wallet
Once you have MERL, you'll need to select a Merlin Chain wallet to securely store your tokens. Here are some reliable options to consider.
3. Delegate Your MERL
We recommend using a staking pool when staking MERL. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their MERL, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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 Merlin Chain network. You'll be rewarded with MERL 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.