Introduction

Staking Onomy Protocol can be an excellent choice for those looking to hold NOM 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 Onomy Protocol (NOM) Tokens

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

   E-platform	Coin	Cost
   BingX	Onomy Protocol (NOM)	0.03 APY
   Kucoin	Onomy Protocol (NOM)	0.01 APY

2. 2. Select a Onomy Protocol Wallet

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

3. 3. Delegate Your NOM

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