How to Stake GMX (GMX) in Canada

Introduction to Cryptocurrency in Canada

Staking GMX can be an excellent choice for Canadians looking to hold GMX while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this guide specifically for you.

Step-by-Step Guide for Canadians

1. 1. Acquire GMX (GMX) Tokens in Canada

   To stake GMX, you first need to acquire it. To obtain GMX, you'll need to purchase it from one of these popular Canadian exchanges.

   Platform	Coin	Cost
   Nexo	GMX (GMX)	8.56
   PrimeXBT	GMX (GMX)	8.55
   Binance	GMX (GMX)	8.56
   OKX	GMX (GMX)	8.55
   Uphold	GMX (GMX)	16.06
   BingX	GMX (GMX)	8.58

   See all 37 prices in Canada

2. 2. Select a GMX Wallet in Canada

   Once you have GMX, you'll need to choose a GMX wallet to store your tokens. Here are some great options available in Canada.

   Platform	Coin	Staking rewards in Canada
   Binance	GMX (GMX)	Up to 5.9% APY in Canada

3. 3. Delegate Your GMX in Canada

   We recommend using a staking pool when staking GMX. It's simpler and faster to get started. A staking pool is a group of validators who combine their GMX, which increases their chances of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Start Validating

   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 GMX network. You'll be rewarded with GMX for these validations.

What Canadians Should Be Aware Of

In Canada, it's important to consider transaction and staking pool fees. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, which can take some time.