How to Stake Sky (SKY)

Introduction

Staking Sky can be an excellent choice for those looking to hold SKY 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 Sky (SKY) Tokens

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

   Platform	Mint	Cost
   Nexo	Sky (SKY)	0,06
   PrimeXBT	Sky (SKY)	0,06
   YouHodler	Sky (SKY)	0,06
   Binance	Sky (SKY)	0,06
   Coinbase	Sky (SKY)	0,06
   Kraken	Sky (SKY)	0,06

   View all 24 prices

2. 2. Select a Sky Wallet

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

   Platform	Mint	Staking rewards in South Africa
   Binance	Sky (SKY)	Up to 12,75% APY

3. 3. Delegate Your SKY

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