How to Stake GMX (GMX): A Step-by-Step Guide for German Investors

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. 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) 8,56 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. 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. 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. 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.

Plattform	Kryptowährung	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

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

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.