How to Stake Waves (WAVES)

Introduction

Staking Waves can be an excellent choice for those looking to hold WAVES 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 Waves (WAVES) Tokens

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

   E-platform	Coin	Cost
   Binance	Waves (WAVES)	1.08 APY
   Azbit	Waves (WAVES)	0.69 APY
   BingX	Waves (WAVES)	0.69 APY
   Bitfinex	Waves (WAVES)	2.33 APY
   Bitget	Waves (WAVES)	0.69 APY
   Bitmart	Waves (WAVES)	0.69 APY

   See all 28 prices in Uganda

2. 2. Select a Waves Wallet

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

3. 3. Delegate Your WAVES

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