Introduction

Staking OMG Network can be a great option for those who want to hold OMG but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-step

1. 1. Obtain OMG Network (OMG) tokens

   In order to stake OMG Network, you need to have it. To obtain OMG Network, you'll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Bitpanda	OMG Network (OMG)	$0.21
   YouHodler	OMG Network (OMG)	$0.2064
   Wirex	OMG Network (OMG)	$0.3859
   Kraken	OMG Network (OMG)	$0.2091
   OKX	OMG Network (OMG)	$0.2749
   Binance	OMG Network (OMG)	$0.383

   See all 15 prices

2. 2. Choose a OMG Network wallet

   Once you have OMG, you’ll need to choose a OMG Network wallet to store your tokens. Here are some good options.

3. 3. Delegate your OMG

   We recommend using a staking pool when staking OMG. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their OMG, which gives them a higher chance of validating transactions and earning rewards. You can do 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 OMG Network network. You’ll be rewarded with OMG for these validations.

What to be aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.