How to Stake NEO (NEO)

Introduction

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

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

   E-platform	Coin	Cost
   PrimeXBT	NEO (NEO)	3.54 APY
   Binance	NEO (NEO)	3.54 APY
   OKX	NEO (NEO)	3.57 APY
   Uphold	NEO (NEO)	7.18 APY
   BingX	NEO (NEO)	3.54 APY
   Bitfinex	NEO (NEO)	3.56 APY

   See all 34 prices in Uganda

2. 2. Select a NEO Wallet

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

   E-platform	Coin	Staking rewards in Uganda
   Binance	NEO (NEO)	Up to 3.39% APY

3. 3. Delegate Your NEO

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