Latest Movements in the Market
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- Market capitalisation
- US$4,53M
- 24-hour trading volume
- US$7 002,83
- Circulating supply
- 310,79M SOMM
Earn up to
2,66% APY
A comprehensive guide on how to stake Sommelier (SOMM)
We have a wealth of information on staking Sommelier (SOMM) and we're excited to share some of this with you.
We present some staking options with other cryptocurrencies that may pique your interest.
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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.
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 |
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 |
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.
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.
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.