How to Stake Velas (VLX) in Australia

Introduction

Staking Velas can be a great option for those who want to hold VLX 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 Velas (VLX) Tokens

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

   Platform	Coin	Cost
   BingX	Velas (VLX)	0
   CoinEx	Velas (VLX)	0
   FMFW.io	Velas (VLX)	0
   Gate.io	Velas (VLX)	0
   HTX	Velas (VLX)	0
   Probit	Velas (VLX)	0

   See all 12 prices

2. 2. Choose a Velas Wallet

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

   Platform	Coin	Staking returns
   MyCointainer	Velas (VLX)	Up to 8.7% % p.a.

3. 3. Delegate Your VLX

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