How to Stake Amp (AMP)

Introduction

Staking Amp can be an excellent choice for those looking to hold AMP while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.

Step-by-Step Guide for South African Investors

1. 1. Acquire Amp (AMP) Tokens

   To stake Amp, you first need to acquire it. To obtain Amp, you'll need to buy it. You can select from these popular exchanges available in South Africa.

   Platform	Mint	Cost
   Binance	Amp (AMP)	0
   Coinbase	Amp (AMP)	0
   Uphold	Amp (AMP)	0
   BingX	Amp (AMP)	0
   Bitget	Amp (AMP)	0
   Bitmart	Amp (AMP)	0

   View all 27 prices

2. 2. Select a Amp Wallet

   Once you have AMP, you'll need to choose a Amp wallet to store your tokens securely. Here are some solid options to consider.

3. 3. Delegate Your AMP

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

What to Keep in Mind

There are transaction and staking pool fees you need to take into account. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this process can take some time.