How to Stake Velas (VLX) for better returns

Introduction

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

Step-by-Step Guide

1. 1. Acquire Velas (VLX) Tokens

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

   Platform	Coin	Price
   BingX	Velas (VLX)	0 APY
   CoinEx	Velas (VLX)	0 APY
   FMFW.io	Velas (VLX)	0 APY
   Gate.io	Velas (VLX)	0 APY
   HTX	Velas (VLX)	0 APY
   MEXC Global	Velas (VLX)	6.57 APY

   View all 13 prices

2. 2. Select a Velas Wallet for Your Needs

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

   Platform	Coin	Staking returns
   MyCointainer	Velas (VLX)	Up to 8.7% APY

3. 3. Delegate Your VLX for Enhanced Returns

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

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.