How to Stake Stellar (XLM): A Step-by-Step Guide for Ugandans

Introduction

Staking Stellar can be an excellent choice for those looking to hold XLM 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 Stellar (XLM) Tokens
To stake Stellar, you first need to acquire it. To obtain Stellar, you will have to buy it. You can select from these well-known exchanges available in Uganda.
E-platform Coin Cost
Nexo Stellar (XLM) 0.22 APY
PrimeXBT Stellar (XLM) 0.22 APY
EarnPark Stellar (XLM) 0.22 APY
YouHodler Stellar (XLM) 0.22 APY
Binance Stellar (XLM) 0.22 APY
Coinbase Stellar (XLM) 0.22 APY
See all 70 prices in Uganda
2. Select a Stellar Wallet
Once you have XLM, you'll need to select a Stellar wallet to securely store your tokens. Here are some reliable options to consider.
E-platform Coin Staking rewards in Uganda
YouHodler Stellar (XLM) Up to 9% APY
3. Delegate Your XLM
We recommend using a staking pool when staking XLM. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their XLM, 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 Stellar network. You'll be rewarded with XLM for these validations.

E-platform	Coin	Cost
Nexo	Stellar (XLM)	0.22 APY
PrimeXBT	Stellar (XLM)	0.22 APY
EarnPark	Stellar (XLM)	0.22 APY
YouHodler	Stellar (XLM)	0.22 APY
Binance	Stellar (XLM)	0.22 APY
Coinbase	Stellar (XLM)	0.22 APY

E-platform	Coin	Staking rewards in Uganda
YouHodler	Stellar (XLM)	Up to 9% 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.