How to Stake Velas (VLX) in Canada

Introduction to Cryptocurrency in Canada

Staking Velas can be an excellent choice for Canadians looking to hold VLX 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 Velas (VLX) Tokens in Canada

   To stake Velas, you first need to acquire it. To obtain Velas, you'll need to purchase it from one of these popular Canadian 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
   MEXC Global	Velas (VLX)	6.39

   See all 13 prices in Canada

2. 2. Select a Velas Wallet in Canada

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

   Platform	Coin	Staking rewards in Canada
   MyCointainer	Velas (VLX)	Up to 8.7% APY in Canada

3. 3. Delegate Your VLX in Canada

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