How to Stake GMX (GMX) for better returns

Introduction

Staking GMX can be an excellent choice for individuals 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-time users. That's why we have created this comprehensive guide to assist you.

Step-by-Step Guide

1. 1. Acquire GMX (GMX) Tokens

   To stake GMX, you first need to acquire it. To obtain GMX, you can purchase it from these well-known exchanges.

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

   View all 37 prices

2. 2. Select a GMX Wallet for Your Needs

   Once you have GMX, you'll need to select a GMX wallet to securely store your tokens. Here are some excellent options to consider.

   Platform	Coin	Staking returns
   Binance	GMX (GMX)	Up to 5.9% APY

3. 3. Delegate Your GMX for Enhanced Returns

   We recommend utilizing a staking pool when staking GMX. It is more straightforward and quicker to get started. A staking pool consists of a collective of validators who pool their GMX, enhancing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.

4. 4. Begin Verification

   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 GMX network. For these validations, you will be rewarded with GMX.

What to Consider in the Chinese Market

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.