Earn up to
10,35% APY
A comprehensive guide on how to stake SKALE (SKL)
We have a wealth of information on staking SKALE (SKL) and we're excited to share some of this with you.
We present some staking options with other cryptocurrencies that may pique your interest.
SKALE (SKL) is currently priced at US$10,35 with a 24-hour trading volume of US$25,01M. The market cap of SKALE stands at US$227,6M, with 5,18B SKL in circulation. For those looking to buy or trade SKALE, Chainode Tech offers avenues to do so securely and efficiently
Staking SKALE can be an excellent choice for those looking to hold SKL 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.
To stake SKALE, you first need to acquire it. To obtain SKALE, you'll need to buy it. You can select from these popular exchanges available in South Africa.
| Platform | Mint | Cost |
|---|---|---|
| Binance | SKALE (SKL) | 0,01 |
| BTSE | SKALE (SKL) | 0,01 |
| Coinbase | SKALE (SKL) | 0,01 |
| OKX | SKALE (SKL) | 0,03 |
| Uphold | SKALE (SKL) | 0,02 |
| Azbit | SKALE (SKL) | 0,01 |
Once you have SKL, you'll need to choose a SKALE wallet to store your tokens securely. Here are some solid options to consider.
We recommend using a staking pool when staking SKL. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their SKL, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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 SKALE network. You'll be rewarded with SKL for these validations.
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.
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