How to Stake WAX (WAXP): A Step-by-Step Guide

Introduction

Staking WAX can be a great option for those who want to hold WAXP 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 WAX (WAXP) Tokens
In order to stake WAX, you need to have it. To obtain WAX, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
OKX WAX (WAXP) 0.02
Binance WAX (WAXP) 0.02
Bitget WAX (WAXP) 0.02
MEXC Global WAX (WAXP) 0.02
Kucoin WAX (WAXP) 0.02
Bitmart WAX (WAXP) 0.02
See all 29 prices
2. Choose a WAX Wallet
Once you have WAXP, you'll need to choose a WAX wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Kucoin WAX (WAXP) Up to 4 APY
3. Delegate Your WAXP
We recommend using a staking pool when staking WAXP. It's simpler and faster to get up-and-running. A staking pool is a group of validators who combine their WAXP, 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 WAX network. You'll be rewarded with WAXP for these validations.

Platform	Coin	Price
OKX	WAX (WAXP)	0.02
Binance	WAX (WAXP)	0.02
Bitget	WAX (WAXP)	0.02
MEXC Global	WAX (WAXP)	0.02
Kucoin	WAX (WAXP)	0.02
Bitmart	WAX (WAXP)	0.02

Platform	Coin	Staking rewards
Kucoin	WAX (WAXP)	Up to 4 APY

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

WAX (WAXP) is currently priced at $4 with a 24-hour trading volume of $34.01M. The market cap of WAX stands at $159.17M, with 3.5B WAXP in circulation. For those looking to buy or trade WAX, Kucoin offers avenues to do so securely and efficiently}

Market cap: $159.17M
24h volume: $34.01M
Circulating supply: 3.5B WAXP

See latest information

Frequently Asked Questions About Staking WAX (WAXP)

What is WAX (WAXP) staking?: WAX (WAXP) staking involves locking WAX tokens to support the network's security and operations, earning rewards in return. It's essential to stay informed about staking rates and updates using tools on Bitcompare for real-time data and alerts.
How can I start staking WAXP?: To stake WAXP, choose a reputable platform or wallet that supports WAX staking. Stay informed by using Bitcompare's tools for the latest rates and reliable exchange options to ensure you're making the best choice.
What rewards can I expect from WAXP staking?: WAXP staking rewards vary based on the network performance and staking amount. Use Bitcompare to access real-time price comparisons and updates, stay informed, and regularly check for the best staking opportunities.
Are there any risks in staking WAXP?: Staking WAXP may involve risks like changes in token value or network issues. Keep informed using Bitcompare's sentiment analysis and news updates to manage risks effectively. Staying informed is key to managing potential risks.
How often are WAXP staking rewards distributed?: WAXP staking rewards are typically distributed based on the network's schedule, often daily or weekly. Check Bitcompare for updates and set email alerts to track reward cycles and maximize your staking strategy.
How does WAXP network affect staking rewards?: The WAXP network's performance and security affect staking rewards. Stay updated on network changes and news via Bitcompare to understand how these factors might impact your staking rewards.
Can I stake WAXP on multiple platforms?: Yes, but consider each platform's terms before staking WAXP across multiple platforms. Use Bitcompare to compare options and stay informed, ensuring your decisions align with your goals.
What are the fees associated with WAXP staking?: Staking fees vary by platform and can impact your earnings. Check Bitcompare for fee insights across different platforms, enabling you to choose the most cost-effective option to maximize rewards.