How to Stake Optimism (OP)

Introduction

Staking Optimism can be an excellent choice for those looking to hold OP 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 Optimism (OP) Tokens

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

   Platform	Mint	Cost
   Nexo	Optimism (OP)	0,27
   PrimeXBT	Optimism (OP)	0,27
   YouHodler	Optimism (OP)	0,27
   Binance	Optimism (OP)	0,27
   BTSE	Optimism (OP)	0,27
   OKX	Optimism (OP)	0,72

   View all 45 prices

2. 2. Select a Optimism Wallet

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

3. 3. Delegate Your OP

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