How to Stake Sonic (prev. FTM) (S): A Step-by-Step Guide for Ugandans

Introduction

Staking Sonic (prev. FTM) can be an excellent choice for those looking to hold S 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 Sonic (prev. FTM) (S) Tokens

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

E-platform	Coin	Cost
Nexo	Sonic (prev. FTM) (S)	0.07 APY
PrimeXBT	Sonic (prev. FTM) (S)	0.07 APY
YouHodler	Sonic (prev. FTM) (S)	0.07 APY
Binance	Sonic (prev. FTM) (S)	0.07 APY
Coinbase	Sonic (prev. FTM) (S)	0.07 APY
Kraken	Sonic (prev. FTM) (S)	0.07 APY

See all 41 prices in Uganda

2. Select a Sonic (prev. FTM) Wallet
Once you have S, you'll need to select a Sonic (prev. FTM) wallet to securely store your tokens. Here are some reliable options to consider.
E-platform Coin Staking rewards in Uganda
Binance Sonic (prev. FTM) (S) Up to 3.5% APY
View all 5 staking rewards available.
3. Delegate Your S
We recommend using a staking pool when staking S. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their S, 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 Sonic (prev. FTM) network. You'll be rewarded with S for these validations.

E-platform	Coin	Staking rewards in Uganda
Binance	Sonic (prev. FTM) (S)	Up to 3.5% APY

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.