How to Stake Onyxcoin (XCN): A Step-by-Step Guide for UAE Investors

Introduction

Staking Onyxcoin can be an excellent choice for individuals in the UAE looking to hold XCN while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-time users. That’s why we’ve created this guide to assist you.

Step-by-Step Guide for UAE Residents

1. Acquire Onyxcoin (XCN) Tokens
To stake Onyxcoin, you first need to acquire it. To obtain Onyxcoin, you will need to purchase it from one of the popular exchanges available in the UAE.
Platform Cryptocurrency Price
Coinbase Onyxcoin (XCN) 0.01
Kraken Onyxcoin (XCN) 0.01
Uphold Onyxcoin (XCN) 0.02
BingX Onyxcoin (XCN) 0.01
Bitget Onyxcoin (XCN) 0
Bitmart Onyxcoin (XCN) 0.01
View all 29 prices
2. Select a Onyxcoin Wallet
Once you have XCN, you'll need to select a Onyxcoin wallet to securely store your tokens. Here are some excellent options available in the UAE market.
Platform Cryptocurrency Staking rewards in the UAE
MyCointainer Onyxcoin (XCN) Up to 34.85% APY
3. Delegate Your XCN in the UAE
We recommend utilizing a staking pool when staking XCN. It’s more straightforward and quicker to get started. A staking pool consists of a group of validators who pool their XCN, increasing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
4. Begin Verification
You will need to wait for your deposit to be confirmed by your digital wallet. Once it's confirmed, you will automatically validate transactions on the Onyxcoin network. For these validations, you will be rewarded with XCN.

Platform	Cryptocurrency	Price
Coinbase	Onyxcoin (XCN)	0.01
Kraken	Onyxcoin (XCN)	0.01
Uphold	Onyxcoin (XCN)	0.02
BingX	Onyxcoin (XCN)	0.01
Bitget	Onyxcoin (XCN)	0
Bitmart	Onyxcoin (XCN)	0.01

Platform	Cryptocurrency	Staking rewards in the UAE
MyCointainer	Onyxcoin (XCN)	Up to 34.85% APY

What to Consider in the UAE Market

In the UAE, it's important to factor in transaction and staking pool fees when engaging in cryptocurrency activities. Additionally, you may experience a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take some time to accomplish.