Where and How to Stake SKALE (SKL)

Introduction

Staking SKALE can be a great option for those who want to hold SKL 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 Guide

1. 1. Obtain SKALE (SKL) Tokens

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

   Platform	Coin	Price
   Bitpanda	SKALE (SKL)	0.03
   Uphold	SKALE (SKL)	0.03
   OKX	SKALE (SKL)	0.03
   Binance	SKALE (SKL)	0.03
   Coinbase	SKALE (SKL)	0.03
   BTSE	SKALE (SKL)	0.03

   See all 16 prices

2. 2. Choose a SKALE Wallet

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

   Platform	Coin	Staking rewards
   Bitmart	SKALE (SKL)	Up to 3.00 APY

3. 3. Delegate Your SKL

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