Introduction
Staking Polymesh can be a great option for those who want to hold POLYX 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 Polymesh (POLYX) tokens
In order to stake Polymesh, you need to have it. To obtain Polymesh, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Polymesh wallet
Once you have POLYX, you’ll need to choose a Polymesh wallet to store your tokens. Here are some good options.
- 3
Delegate your POLYX
We recommend using a staking pool when staking POLYX. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their POLYX, 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 Polymesh network. You’ll be rewarded with POLYX 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.
Latest movements
Polymesh (POLYX) is currently priced at $0.3853, with a 24-hour trading volume of $21.15M. In the last 24 hours, Polymesh has seen an increase to 4.19. The market cap of Polymesh stands at $399.59M, with 1.05B in circulation. For those looking to buy or trade Polymesh, reputable platforms like Binance and Crypto.com offer avenues to do so securely and efficiently.
- Market cap
- $399.59M
- Volume
- $21.15M
- Circulating supply
- $1.05B
