How to Stake Polymesh (POLYX)

Introduction

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

Step-by-Step Anleitung

1. 1. Acquire Polymesh (POLYX) Tokens

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

   Plattform	Kryptowährung	Price
   PrimeXBT	Polymesh (POLYX)	0,06 APY
   Binance	Polymesh (POLYX)	0,06 APY
   BingX	Polymesh (POLYX)	0,06 APY
   Bitget	Polymesh (POLYX)	0,06 APY
   Bitmart	Polymesh (POLYX)	0,06 APY
   Bitpanda	Polymesh (POLYX)	0,36 APY

   View all 25 prices

2. 2. Select a Polymesh Wallet

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

   Plattform	Kryptowährung	Staking rewards
   Binance	Polymesh (POLYX)	Up to 12,13 % APY
   MyCointainer	Polymesh (POLYX)	Up to 21 % APY

3. 3. Delegate Your POLYX

   We recommend using a staking pool when staking POLYX. It's simpler and faster to get started. A staking pool is a collective of validators who pool their POLYX, 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 Polymesh network. For these validations, you will be rewarded with POLYX.

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.