How to Stake Chainlink (LINK)

Introduction

Staking Chainlink can be an excellent choice for those looking to hold LINK 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 Chainlink (LINK) Tokens

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

   Platform	Mint	Cost
   Nexo	Chainlink (LINK)	13,77
   PrimeXBT	Chainlink (LINK)	13,72
   YouHodler	Chainlink (LINK)	13,71
   Binance	Chainlink (LINK)	13,72
   BTSE	Chainlink (LINK)	13,73

   View all 73 prices

2. 2. Select a Chainlink Wallet

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

   Platform	Mint	Staking rewards in South Africa
   YouHodler	Chainlink (LINK)	Up to 9% APY

3. 3. Delegate Your LINK

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