Introduction

Staking Smart Layer Network can be an excellent choice for those looking to hold SLN 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 Smart Layer Network (SLN) Tokens

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

   Platform	Mint	Cost
   Bitmart	Smart Layer Network (SLN)	0,04
   Bitpanda	Smart Layer Network (SLN)	0,27
   CoinEx	Smart Layer Network (SLN)	0,03
   Crypto.com	Smart Layer Network (SLN)	0,03
   Gate.io	Smart Layer Network (SLN)	0
   Phemex	Smart Layer Network (SLN)	0,07

   View all 11 prices

2. 2. Select a Smart Layer Network Wallet

   Once you have SLN, you'll need to choose a Smart Layer Network wallet to store your tokens securely. Here are some solid options to consider.

3. 3. Delegate Your SLN

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