Introduction

Staking Lisk can be an excellent choice for those looking to hold LSK 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 Lisk (LSK) Tokens

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

   Platform	Mint	Cost
   Binance	Lisk (LSK)	0,21
   Kraken	Lisk (LSK)	0,21
   OKX	Lisk (LSK)	0,58
   BingX	Lisk (LSK)	0,21
   Bitget	Lisk (LSK)	0,2
   Bitpanda	Lisk (LSK)	1,22

   View all 29 prices

2. 2. Select a Lisk Wallet

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

3. 3. Delegate Your LSK

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