How to Stake Pyth Network (PYTH) in Australia

Introduction

Staking Pyth Network can be a great option for those who want to hold PYTH 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 Pyth Network (PYTH) Tokens

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

   Platform	Coin	Cost
   PrimeXBT	Pyth Network (PYTH)	0.06
   YouHodler	Pyth Network (PYTH)	0.06
   Binance	Pyth Network (PYTH)	0.06
   BTSE	Pyth Network (PYTH)	0.06
   Coinbase	Pyth Network (PYTH)	0.06
   Kraken	Pyth Network (PYTH)	0.06

   See all 59 prices

2. 2. Choose a Pyth Network Wallet

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

   Platform	Coin	Staking returns
   Bitmart	Pyth Network (PYTH)	Up to 1% % p.a.

3. 3. Delegate Your PYTH

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