Introduction
Staking Axie Infinity can be a great option for those who want to hold AXS but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-Step Guide
1. Obtain Axie Infinity (AXS) Tokens
In order to stake Axie Infinity, you need to have it. To obtain Axie Infinity, you'll need to purchase it. You can choose from these popular exchanges.
2. Choose a Axie Infinity Wallet
Once you have AXS, you’ll need to choose a Axie Infinity wallet to store your tokens. Here are some good options.
See all 5 staking rewardsPlatform Coin Staking rewards Binance Axie Infinity (AXS) Up to 18.9 APY Bitmart Axie Infinity (AXS) Up to 1 APY 3. Delegate Your AXS
We recommend using a staking pool when staking AXS. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their AXS, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
4. Start Validating
You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the Axie Infinity network. You’ll be rewarded with AXS for these validations.
What to be Aware of
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
Latest Movements
Axie Infinity (AXS) is currently priced at $14.31 with a 24-hour trading volume of $213.4M. The market cap of Axie Infinity stands at $982.07M, with $157.48M AXS in circulation. For those looking to buy or trade Axie Infinity, Binance offers avenues to do so securely and efficiently}
- Market cap
- $982.07M
- 24h volume
- $213.4M
- Circulating supply
- $157.48M
Frequently Asked Questions About Staking Axie Infinity (AXS)
- What is Axie Infinity (AXS) staking?
- Axie Infinity (AXS) staking is a process where you lock up AXS tokens to earn staking rewards. By staking AXS, you support the network's security and gain additional AXS as rewards over time.
- How often are staking rewards distributed?
- Staking rewards for Axie Infinity (AXS) are typically distributed on a regular basis, often daily. However, the exact frequency can vary. It's important to stay informed through reliable platforms like Bitcompare for updates on distribution schedules.
- What is the current staking reward rate for AXS?
- The current staking reward rate for AXS can fluctuate based on network conditions and governance decisions. For up-to-date rates, check real-time comparisons on the Bitcompare platform.
- Can I unstake AXS at any time?
- Yes, you can unstake AXS, but there might be a lock-up period or delay before you can access your tokens. Always check the specific terms of the staking pool you're using.
- Is staking AXS safe?
- Staking AXS involves risks similar to any crypto activity, including market volatility and smart contract vulnerabilities. Keep informed and use tools like Bitcompare to stay updated on any security alerts or platform changes.
- What factors affect AXS staking rewards?
- Rewards can be affected by the number of tokens staked, overall network participation, and token emission rates. Regularly consult platforms like Bitcompare for insights and announcements impacting these variables.
- How do I start staking AXS?
- To start staking AXS, you'll generally need a compatible wallet and access to a staking platform or exchange. For detailed steps and comparisons, Bitcompare offers valuable resources and guides.
- Why should I stay updated on Axie Infinity news?
- Staying updated helps you make informed decisions about staking, trading, and market trends. Use Bitcompare's tools like sentiment analysis and news alerts to stay ahead in the dynamic crypto market.
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