How to Stake WAX (WAXP) for better returns

Introduction

Staking WAX can be an excellent choice for individuals looking to hold WAXP 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 WAX (WAXP) Tokens

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

   Platform	Coin	Price
   Binance	WAX (WAXP)	0.01 APY
   OKX	WAX (WAXP)	0.02 APY
   BingX	WAX (WAXP)	0.01 APY
   Bitget	WAX (WAXP)	0.01 APY
   Bitmart	WAX (WAXP)	0.02 APY
   Bitpanda	WAX (WAXP)	0.05 APY

   View all 29 prices

2. 2. Select a WAX Wallet for Your Needs

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

   Platform	Coin	Staking returns
   Kucoin	WAX (WAXP)	Up to 4% APY

3. 3. Delegate Your WAXP for Enhanced Returns

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

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.