How to Stake Symbol (XYM) in Australia

Introduction

Staking Symbol can be a great option for those who want to hold XYM 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 Symbol (XYM) Tokens

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

   Platform	Coin	Cost
   BingX	Symbol (XYM)	0.01
   Bitpanda	Symbol (XYM)	0.03
   CoinEx	Symbol (XYM)	0.01
   FMFW.io	Symbol (XYM)	0.01
   Gate.io	Symbol (XYM)	0.01
   Kucoin	Symbol (XYM)	0.01

   See all 15 prices

2. 2. Choose a Symbol Wallet

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

   Platform	Coin	Staking returns
   Kucoin	Symbol (XYM)	Up to 3.8% % p.a.

3. 3. Delegate Your XYM

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