Introduction

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

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

   E-platform	Coin	Cost
   Binance	Biconomy (BICO)	0.04 APY
   Coinbase	Biconomy (BICO)	0.04 APY
   Kraken	Biconomy (BICO)	0.04 APY
   OKX	Biconomy (BICO)	0.13 APY
   Uphold	Biconomy (BICO)	0.11 APY
   BingX	Biconomy (BICO)	0.04 APY

   See all 44 prices in Uganda

2. 2. Select a Biconomy Wallet

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

3. 3. Delegate Your BICO

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