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Staking FTX can be an excellent choice for individuals looking to hold FTT while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-time users. That's why we have created this comprehensive guide to assist you.
To stake FTX, you first need to acquire it. To obtain FTX, you can purchase it from these well-known exchanges.
Once you have FTT, you'll need to select a FTX wallet to securely store your tokens. Here are some excellent options to consider.
We recommend utilizing a staking pool when staking FTT. It is more straightforward and quicker to get started. A staking pool consists of a collective of validators who pool their FTT, enhancing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.
You will need to wait for your deposit to be confirmed by your wallet. Once it is confirmed, you will automatically validate transactions on the FTX network. For these validations, you will be rewarded with FTT.
When engaging in transactions and participating in staking pools, it's important to factor in the associated fees. Additionally, there may be a waiting period before you begin to receive rewards. The staking pool must successfully generate blocks, which can require some time to accomplish.
