How to Stake Chromia (CHR)

Introduction

Staking Chromia can be an excellent choice for those looking to hold CHR 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 Chromia (CHR) Tokens

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

   Platform	Mint	Cost
   PrimeXBT	Chromia (CHR)	0,04
   Binance	Chromia (CHR)	0,04
   Uphold	Chromia (CHR)	0,09
   BingX	Chromia (CHR)	0,04
   Bitget	Chromia (CHR)	0,04
   Bitmart	Chromia (CHR)	0,05

   View all 25 prices

2. 2. Select a Chromia Wallet

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

   Platform	Mint	Staking rewards in South Africa
   Binance	Chromia (CHR)	Up to 2,4% APY

   View all 4 staking rewards available

3. 3. Delegate Your CHR

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