How to Stake Onyxcoin (XCN) in Australia

Introduction

Staking Onyxcoin can be a great option for those who want to hold XCN 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 Onyxcoin (XCN) Tokens

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

   Platform	Coin	Cost
   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

   See all 29 prices

2. 2. Choose a Onyxcoin Wallet

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

   Platform	Coin	Staking returns
   MyCointainer	Onyxcoin (XCN)	Up to 34.85% % p.a.

3. 3. Delegate Your XCN

   We recommend using a staking pool when staking XCN. It's simpler and quicker to get started. A staking pool is a group of validators who combine their XCN, 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 Onyxcoin network. You'll be rewarded with XCN 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.