How to Stake Pyth Network (PYTH)

Introduction

Staking Pyth Network can be an excellent choice for those looking to hold PYTH 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 Pyth Network (PYTH) Tokens

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

   Plattform	Kryptowährung	Price
   PrimeXBT	Pyth Network (PYTH)	0,06 APY
   YouHodler	Pyth Network (PYTH)	0,06 APY
   Binance	Pyth Network (PYTH)	0,06 APY
   BTSE	Pyth Network (PYTH)	0,06 APY
   Coinbase	Pyth Network (PYTH)	0,06 APY
   Kraken	Pyth Network (PYTH)	0,06 APY

   View all 59 prices

2. 2. Select a Pyth Network Wallet

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

   Plattform	Kryptowährung	Staking rewards
   Bitmart	Pyth Network (PYTH)	Up to 1 % APY

3. 3. Delegate Your PYTH

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

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.