Introduction
Staking Sui can be an excellent choice for those looking to hold SUI 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 Sui (SUI) Tokens
To stake Sui, you first need to acquire it. To obtain Sui, you'll need to buy it. You can select from these popular exchanges available in South Africa.
2. Select a Sui Wallet
Once you have SUI, you'll need to choose a Sui wallet to store your tokens securely. Here are some solid options to consider.
3. Delegate Your SUI
We recommend using a staking pool when staking SUI. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their SUI, 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 Sui network. You'll be rewarded with SUI 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
Sui (SUI) is currently priced at US$1,7 with a 24-hour trading volume of US$1,93B. The market cap of Sui stands at US$14,6B, with 3,01B SUI in circulation. For those looking to buy or trade Sui, Uphold offers avenues to do so securely and efficiently
- Market capitalisation
- US$14,6B
- 24-hour trading volume
- US$1,93B
- Circulating supply
- 3,01B SUI
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