How to Stake SKALE (SKL)

Introduction

Staking SKALE can be an excellent choice for those looking to hold SKL 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 SKALE (SKL) Tokens

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

   E-platform	Coin	Cost
   Binance	SKALE (SKL)	0.02 APY
   BTSE	SKALE (SKL)	0.02 APY
   Coinbase	SKALE (SKL)	0.02 APY
   OKX	SKALE (SKL)	0.03 APY
   Uphold	SKALE (SKL)	0.02 APY
   Azbit	SKALE (SKL)	0.02 APY

   See all 49 prices in Uganda

2. 2. Select a SKALE Wallet

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

3. 3. Delegate Your SKL

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