How to Stake Polymesh (POLYX) for better returns

Introduction

Staking Polymesh can be an excellent choice for individuals looking to hold POLYX 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 Polymesh (POLYX) Tokens

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

   平台	Coin	Price
   Binance	Polymesh (POLYX)	0.13 APY
   BingX	Polymesh (POLYX)	0.13 APY
   Bitget	Polymesh (POLYX)	0.13 APY
   Bitmart	Polymesh (POLYX)	0.11 APY
   Bitpanda	Polymesh (POLYX)	0.36 APY
   Bybit	Polymesh (POLYX)	0.13 APY

   View all 23 prices

2. 2. Select a Polymesh Wallet for Your Needs

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

   平台	Coin	Staking returns
   Binance	Polymesh (POLYX)	Up to 8.9% APY
   MyCointainer	Polymesh (POLYX)	Up to 21% APY

3. 3. Delegate Your POLYX for Enhanced Returns

   We recommend utilizing a staking pool when staking POLYX. It is more straightforward and quicker to get started. A staking pool consists of a collective of validators who pool their POLYX, 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 Polymesh network. For these validations, you will be rewarded with POLYX.

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.