How to Stake Sommelier (SOMM): A Step-by-Step Guide for South Africans

Introduction

Staking Sommelier can be an excellent choice for those looking to hold SOMM 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 Sommelier (SOMM) Tokens
To stake Sommelier, you first need to acquire it. To obtain Sommelier, you'll need to buy it. You can select from these popular exchanges available in South Africa.
Platform Mint Cost
CoinEx Sommelier (SOMM) 0
Gate.io Sommelier (SOMM) 0,000991
View all 4 prices
2. Select a Sommelier Wallet
Once you have SOMM, you'll need to choose a Sommelier wallet to store your tokens securely. Here are some solid options to consider.
Platform Mint Staking rewards in South Africa
Everstake Sommelier (SOMM) Up to 2,66% APY
Stakewolle Sommelier (SOMM) Up to 10,3% APY
View all 4 staking rewards available
3. Delegate Your SOMM
We recommend using a staking pool when staking SOMM. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their SOMM, 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 Sommelier network. You'll be rewarded with SOMM for these validations.

Platform	Mint	Cost
CoinEx	Sommelier (SOMM)	0
Gate.io	Sommelier (SOMM)	0,000991

Platform	Mint	Staking rewards in South Africa
Everstake	Sommelier (SOMM)	Up to 2,66% APY
Stakewolle	Sommelier (SOMM)	Up to 10,3% APY

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.