How to Stake Symbol (XYM)

Introduction

Staking Symbol can be an excellent choice for those looking to hold XYM 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 Symbol (XYM) Tokens

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

   E-platform	Coin	Cost
   BingX	Symbol (XYM)	0.01 APY
   Bitpanda	Symbol (XYM)	0.03 APY
   CoinEx	Symbol (XYM)	0.01 APY
   FMFW.io	Symbol (XYM)	0.01 APY
   Gate.io	Symbol (XYM)	0.01 APY
   Kucoin	Symbol (XYM)	0.01 APY

   See all 15 prices in Uganda

2. 2. Select a Symbol Wallet

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

   E-platform	Coin	Staking rewards in Uganda
   Kucoin	Symbol (XYM)	Up to 3.8% APY

3. 3. Delegate Your XYM

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