How to Stake GMX (GMX)

Introduction

Staking GMX can be an excellent choice for those 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've created this guide to assist you.

Step-by-Step Anleitung

1. 1. Acquire GMX (GMX) Tokens

   To stake GMX, you first need to acquire it. To obtain GMX, you'll need to purchase it. You can choose from these well-known exchanges available in Germany.

   Plattform	Kryptowährung	Price
   Nexo	GMX (GMX)	8 APY
   PrimeXBT	GMX (GMX)	7,96 APY
   Binance	GMX (GMX)	7,98 APY
   OKX	GMX (GMX)	7,99 APY
   Uphold	GMX (GMX)	16,06 APY
   BingX	GMX (GMX)	8 APY

   View all 37 prices

2. 2. Select a GMX Wallet

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

   Plattform	Kryptowährung	Staking rewards
   Binance	GMX (GMX)	Up to 5,9 % APY

3. 3. Delegate Your GMX

   We recommend using a staking pool when staking GMX. It's simpler and faster to get started. A staking pool is a collective of validators who pool their GMX, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 4. Start Validating

   You will need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you will automatically validate transactions on the GMX network. For these validations, you will be rewarded with GMX.

What to Consider

There are transaction and staking pool fees you need to consider. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, and this process can take some time.