Introduction

Staking Onomy Protocol can be an excellent choice for those looking to hold NOM 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 Onomy Protocol (NOM) Tokens

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

   Platform	Mint	Cost
   BingX	Onomy Protocol (NOM)	0,03
   Kucoin	Onomy Protocol (NOM)	0,01

2. 2. Select a Onomy Protocol Wallet

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

3. 3. Delegate Your NOM

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