Introduction
Staking MMX can be a great option for those who want to hold MMX 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
Obtain MMX (MMX) tokens
In order to stake MMX, you need to have it. To obtain MMX, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a MMX wallet
Once you have MMX, you’ll need to choose a MMX wallet to store your tokens. Here are some good options.
- 3
Delegate your MMX
We recommend using a staking pool when staking MMX. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their MMX, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
- 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 MMX network. You’ll be rewarded with MMX 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.
