How to Stake Celo (CELO)

Introduction

Staking Celo can be an excellent choice for those looking to hold CELO while earning APY in a secure manner and supporting the network. The process might seem a bit overwhelming, particularly if you're doing it for the first time. That's why we've created this guide specifically for you.

Step-by-Step Guide for Ugandan Investors

1. 1. Acquire Celo (CELO) Tokens

   To stake Celo, you first need to acquire it. To obtain Celo, you will have to buy it. You can select from these well-known exchanges available in Uganda.

   E-platform	Coin	Cost
   Uphold	Celo (CELO)	0.34 APY
   OKX	Celo (CELO)	0.31 APY
   Binance	Celo (CELO)	0.3 APY
   Coinbase	Celo (CELO)	0.3 APY
   Bake	Celo (CELO)	0.3 APY
   BingX	Celo (CELO)	0.3 APY

   See all 50 prices in Uganda

2. 2. Select a Celo Wallet

   Once you have CELO, you'll need to select a Celo wallet to securely store your tokens. Here are some reliable options to consider.

   E-platform	Coin	Staking rewards in Uganda
   Binance	Celo (CELO)	Up to 0.79% APY

   View all 4 staking rewards available.

3. 3. Delegate Your CELO

   We recommend using a staking pool when staking CELO. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their CELO, which increases their chances of validating transactions and earning rewards. You can manage 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 Celo network. You'll be rewarded with CELO for these validations.

What to Keep in Mind

There are transaction and staking pool fees you need to keep in mind. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, which can take a bit of time.