How to Stake Kusama (KSM)

Introduction

Staking Kusama can be an excellent choice for those looking to hold KSM 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 Kusama (KSM) Tokens

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

   Platform	Mint	Cost
   Nexo	Kusama (KSM)	15,87
   Binance	Kusama (KSM)	10,01
   BTSE	Kusama (KSM)	10,04
   Coinbase	Kusama (KSM)	10,01
   Kraken	Kusama (KSM)	9,89
   OKX	Kusama (KSM)	18,08

   View all 48 prices

2. 2. Select a Kusama Wallet

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

   Platform	Mint	Staking rewards in South Africa
   Uphold	Kusama (KSM)	Up to 4,8% APY
   Binance	Kusama (KSM)	Up to 10,9% APY
   Bitpanda	Kusama (KSM)	Up to 14% APY

   View all 17 staking rewards available

3. 3. Delegate Your KSM

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