Introduction
Staking GMX can be an excellent choice for those looking to hold GMX while earning returns in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this guide specifically for you.
Step-by-Step Guide for Indian Investors
1. Acquire GMX (GMX) Tokens in India
To stake GMX, you first need to acquire it. To obtain GMX, you will have to purchase it from a cryptocurrency exchange. You can select from these popular platforms available in India.
2. Choose a GMX Wallet in India
Once you have GMX, you'll need to choose a GMX wallet to securely store your tokens. Here are some reliable options available in India.
3. Delegate Your GMX in India
We recommend using a staking pool when staking GMX. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their GMX, increasing their chances of validating transactions and earning rewards. You can easily do this through your wallet's interface.
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 GMX network. For these validations, you will be rewarded with GMX.
What to Keep in Mind
When engaging in staking, it's important to factor in transaction fees and staking pool charges. Additionally, there may be a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take some time to accomplish.
Latest Trends in India
GMX (GMX) is currently priced at $5.9 with a 24-hour trading volume of $1.85Cr. The market cap of GMX stands at $23.61Cr, with 99.19L GMX in circulation. For those looking to buy or trade GMX, Binance offers avenues to do so securely and efficiently
- Market capitalization
- $23.61Cr
- 24-hour trading volume
- $1.85Cr
- Circulating supply in the market
- 99.19L GMX
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