How to Stake BitMart (BMX) in Australia

Introduction

Staking BitMart can be a great option for those who want to hold BMX 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. 1. Obtain BitMart (BMX) Tokens

   To stake BitMart, you need to own it. To obtain BitMart, you'll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Cost
   Bitmart	BitMart (BMX)	0.3
   Kucoin	BitMart (BMX)	0.3

   See all 4 prices

2. 2. Choose a BitMart Wallet

   Once you have BMX, you'll need to choose a BitMart wallet to store your tokens. Here are some great options.

   Platform	Coin	Staking returns
   Bitmart	BitMart (BMX)	Up to 2.75% % p.a.

3. 3. Delegate Your BMX

   We recommend using a staking pool when staking BMX. It's simpler and quicker to get started. A staking pool is a group of validators who combine their BMX, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 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 BitMart network. You'll be rewarded with BMX for these validations.

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.