How to Stake WAX (WAXP) in Australia

Introduction

Staking WAX can be a great option for those who want to hold WAXP 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 WAX (WAXP) Tokens

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

   Platform	Coin	Cost
   OKX	WAX (WAXP)	0.02
   Binance	WAX (WAXP)	0.02
   BingX	WAX (WAXP)	0.02
   Bitget	WAX (WAXP)	0.02
   Bitmart	WAX (WAXP)	0.02
   Bitpanda	WAX (WAXP)	0.05

   See all 29 prices

2. 2. Choose a WAX Wallet

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

   Platform	Coin	Staking returns
   Kucoin	WAX (WAXP)	Up to 4% % p.a.

3. 3. Delegate Your WAXP

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