How to Stake WAX (WAXP)

Introduction

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

Step-by-Step Anleitung

1. 1. Acquire WAX (WAXP) Tokens

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

   Plattform	Kryptowährung	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

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

   Plattform	Kryptowährung	Staking rewards
   Kucoin	WAX (WAXP)	Up to 4 % APY

3. 3. Delegate Your WAXP

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

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.