Introduction
Staking NEO can be an excellent choice for those looking to hold NEO 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. Acquire NEO (NEO) Tokens
To stake NEO, you first need to acquire it. To obtain NEO, you'll need to buy it. You can select from these popular exchanges available in South Africa.
2. Select a NEO Wallet
Once you have NEO, you'll need to choose a NEO wallet to store your tokens securely. Here are some solid options to consider.
3. Delegate Your NEO
We recommend using a staking pool when staking NEO. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their NEO, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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 NEO network. You'll be rewarded with NEO 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.
Latest Movements in the Market
missing en-za translation: common.latest-movements-copy
- Market capitalisation
- US$1,03B
- 24-hour trading volume
- US$62,74M
- Circulating supply
- 70,53M NEO
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