Where & how to stake Onomy (NOM)

Introduction

Staking Onomy can be a great option for those who want to hold NOM 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 Onomy (NOM) tokens

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

   Platform	Coin	Price
   Bitmart	Onomy (NOM)	$0.1091
   BingX	Onomy (NOM)	$0.0378

2. 2. Choose a Onomy wallet

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

   Platform	Coin	Staking rewards
   MyCointainer	Onomy (NOM)	Up to 18.1% APY
   Stakewolle	Onomy (NOM)	Up to 200% APY

3. 3. Delegate your NOM

   We recommend using a staking pool when staking NOM. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their NOM, 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 Onomy network. You’ll be rewarded with NOM 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.