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Staking FTX can be an excellent choice for those looking to hold FTT while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.
To stake FTX, you first need to acquire it. To obtain FTX, you'll have to buy it. You can select from these well-known exchanges.
Once you have FTT, you'll need to choose a FTX wallet to securely store your tokens. Here are some solid options to consider.
We recommend using a staking pool when staking FTT. It's simpler and faster to get started. A staking pool is a group of validators who combine their FTT, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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 FTX network. You'll be rewarded with FTT for these validations.
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 will need to generate blocks, and this process can take some time.
