How to Stake Polymesh (POLYX) in Australia

Introduction

Staking Polymesh can be a great option for those who want to hold POLYX 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 Polymesh (POLYX) Tokens

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

   Platform	Coin	Cost
   PrimeXBT	Polymesh (POLYX)	0.06
   Binance	Polymesh (POLYX)	0.06
   BingX	Polymesh (POLYX)	0.06
   Bitget	Polymesh (POLYX)	0.06
   Bitmart	Polymesh (POLYX)	0.06
   Bitpanda	Polymesh (POLYX)	0.36

   See all 25 prices

2. 2. Choose a Polymesh Wallet

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

   Platform	Coin	Staking returns
   Binance	Polymesh (POLYX)	Up to 12.13% % p.a.
   MyCointainer	Polymesh (POLYX)	Up to 21% % p.a.

3. 3. Delegate Your POLYX

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