How to Stake Solana (SOL): A Step-by-Step Guide for South Africans

Introduction

Staking Solana can be an excellent choice for those looking to hold SOL 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. Acquire Solana (SOL) Tokens
To stake Solana, you first need to acquire it. To obtain Solana, you'll need to buy it. You can select from these popular exchanges available in South Africa.
Platform Mint Cost
Nexo Solana (SOL) 137,81
PrimeXBT Solana (SOL) 137,48
EarnPark Solana (SOL) 138,13
YouHodler Solana (SOL) 137,44
Binance Solana (SOL) 137,56
BTSE Solana (SOL) 137,46
View all 84 prices

Platform	Mint	Cost
Nexo	Solana (SOL)	137,81
PrimeXBT	Solana (SOL)	137,48
EarnPark	Solana (SOL)	138,13
YouHodler	Solana (SOL)	137,44
Binance	Solana (SOL)	137,56
BTSE	Solana (SOL)	137,46

2. Select a Solana Wallet

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

Platform	Mint	Staking rewards in South Africa
YouHodler	Solana (SOL)	Up to 13% APY
Uphold	Solana (SOL)	Up to 5,8% APY
Validator.com	Solana (SOL)	Up to 8,62% APY
Bake	Solana (SOL)	Up to 5,25% APY
Binance	Solana (SOL)	Up to 5,5% APY

View all 41 staking rewards available

3. Delegate Your SOL
We recommend using a staking pool when staking SOL. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their SOL, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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 Solana network. You'll be rewarded with SOL 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.

Latest Movements in the Market

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Market capitalisation: US$91,18B
24-hour trading volume: US$4,55B
Circulating supply: 483,75M SOL

Check the latest updates

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