Introduction

Staking Merit Circle can be an excellent choice for those looking to hold MC 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 Merit Circle (MC) Tokens

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

   Platform	Mint	Cost
   Binance	Merit Circle (MC)	0,49
   Kraken	Merit Circle (MC)	0,04
   Bitget	Merit Circle (MC)	0,07
   Bitpanda	Merit Circle (MC)	0,48
   Gate.io	Merit Circle (MC)	0,45

   View all 7 prices

2. 2. Select a Merit Circle Wallet

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

3. 3. Delegate Your MC

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