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Staking Klaytn can be an excellent choice for those looking to hold KLAY 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.
To stake Klaytn, you first need to acquire it. To obtain Klaytn, you'll need to buy it. You can select from these popular exchanges available in South Africa.
| Platform | Mint | Cost |
|---|---|---|
| Binance | Klaytn (KLAY) | 0,13 |
| Uphold | Klaytn (KLAY) | 0,26 |
| Kucoin | Klaytn (KLAY) | 0,12 |
| Probit | Klaytn (KLAY) | 0,1 |
Once you have KLAY, you'll need to choose a Klaytn wallet to store your tokens securely. Here are some solid options to consider.
We recommend using a staking pool when staking KLAY. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their KLAY, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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 Klaytn network. You'll be rewarded with KLAY for these validations.
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.
