How to Stake Wormhole (W): A Comprehensive Guide for Australians

Introduction

Staking Wormhole can be a great option for those who want to hold W 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. Obtain Wormhole (W) Tokens
To stake Wormhole, you need to own it. To obtain Wormhole, you'll need to buy it. You can choose from these popular exchanges.
Platform Coin Cost
PrimeXBT Wormhole (W) 0.04
YouHodler Wormhole (W) 0.04
Binance Wormhole (W) 0.04
BTSE Wormhole (W) 0.04
Coinbase Wormhole (W) 0.04
OKX Wormhole (W) 0.08
See all 44 prices
2. Choose a Wormhole Wallet
Once you have W, you'll need to choose a Wormhole wallet to store your tokens. Here are some great options.
3. Delegate Your W
We recommend using a staking pool when staking W. It's simpler and quicker to get started. A staking pool is a group of validators who combine their W, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
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 Wormhole network. You'll be rewarded with W for these validations.

Platform	Coin	Cost
PrimeXBT	Wormhole (W)	0.04
YouHodler	Wormhole (W)	0.04
Binance	Wormhole (W)	0.04
BTSE	Wormhole (W)	0.04
Coinbase	Wormhole (W)	0.04
OKX	Wormhole (W)	0.08

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.