How to Stake Moonriver (MOVR)

Introduction

Staking Moonriver can be an excellent choice for those looking to hold MOVR 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 Moonriver (MOVR) Tokens

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

   E-platform	Coin	Cost
   Uphold	Moonriver (MOVR)	6.57 APY
   Kraken	Moonriver (MOVR)	5.68 APY
   OKX	Moonriver (MOVR)	5.8 APY
   Binance	Moonriver (MOVR)	5.68 APY
   BingX	Moonriver (MOVR)	5.68 APY
   Bitget	Moonriver (MOVR)	5.69 APY

   See all 60 prices in Uganda

2. 2. Select a Moonriver Wallet

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

   E-platform	Coin	Staking rewards in Uganda
   Binance	Moonriver (MOVR)	Up to 2.9% APY

   View all 5 staking rewards available.

3. 3. Delegate Your MOVR

   We recommend using a staking pool when staking MOVR. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their MOVR, 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 Moonriver network. You'll be rewarded with MOVR 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.