How to Stake Velas (VLX)

Introduction

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

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

   E-platform	Coin	Cost
   BingX	Velas (VLX)	0 APY
   CoinEx	Velas (VLX)	0 APY
   FMFW.io	Velas (VLX)	0 APY
   Gate.io	Velas (VLX)	0 APY
   HTX	Velas (VLX)	0 APY
   MEXC Global	Velas (VLX)	6.39 APY

   See all 13 prices in Uganda

2. 2. Select a Velas Wallet

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

   E-platform	Coin	Staking rewards in Uganda
   MyCointainer	Velas (VLX)	Up to 8.7% APY

3. 3. Delegate Your VLX

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