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Staking IQ can be an excellent choice for those looking to hold IQ 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 IQ, you first need to acquire it. To obtain IQ, you'll have to buy it. You can select from these well-known exchanges.
Once you have IQ, you'll need to choose a IQ wallet to securely store your tokens. Here are some solid options to consider.
We recommend using a staking pool when staking IQ. It's simpler and faster to get started. A staking pool is a group of validators who combine their IQ, 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 IQ network. You'll be rewarded with IQ 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.