Introduction

Staking Merlin Chain can be an excellent choice for those looking to hold MERL 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 Merlin Chain (MERL) Tokens

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

   Platform	Mint	Cost
   PrimeXBT	Merlin Chain (MERL)	0,31
   BTSE	Merlin Chain (MERL)	0,31
   Kraken	Merlin Chain (MERL)	0,31
   OKX	Merlin Chain (MERL)	0,11
   BingX	Merlin Chain (MERL)	0,31
   Bitget	Merlin Chain (MERL)	0,31

   View all 32 prices

2. 2. Select a Merlin Chain Wallet

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

3. 3. Delegate Your MERL

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