How to Stake Binance-Peg IoTeX (IOTX): A Comprehensive Guide for Australians

Introduction

Staking Binance-Peg IoTeX can be a great option for those who want to hold IOTX while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.

Step-by-Step Guide

1. Obtain Binance-Peg IoTeX (IOTX) Tokens
To stake Binance-Peg IoTeX, you need to own it. To obtain Binance-Peg IoTeX, you'll need to buy it. You can choose from these popular exchanges.
Platform Coin Cost
Azbit Binance-Peg IoTeX (IOTX) 0.01
FMFW.io Binance-Peg IoTeX (IOTX) 0.01
Kucoin Binance-Peg IoTeX (IOTX) 0.01
See all 4 prices
2. Choose a Binance-Peg IoTeX Wallet
Once you have IOTX, you'll need to choose a Binance-Peg IoTeX wallet to store your tokens. Here are some great options.
Platform Coin Staking returns
Kucoin Binance-Peg IoTeX (IOTX) Up to 2% % p.a.
3. Delegate Your IOTX
We recommend using a staking pool when staking IOTX. It's simpler and quicker to get started. A staking pool is a group of validators who combine their IOTX, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
4. Begin Validation
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 Binance-Peg IoTeX network. You'll be rewarded with IOTX for these validations.

Platform	Coin	Cost
Azbit	Binance-Peg IoTeX (IOTX)	0.01
FMFW.io	Binance-Peg IoTeX (IOTX)	0.01
Kucoin	Binance-Peg IoTeX (IOTX)	0.01

Platform	Coin	Staking returns
Kucoin	Binance-Peg IoTeX (IOTX)	Up to 2% % p.a.

What to Be Aware Of

There are transaction and staking pool fees to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.