How to Stake Synthetix Network (SNX) in India

Introduction

Staking Synthetix Network can be an excellent choice for those looking to hold SNX 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. 1. Acquire Synthetix Network (SNX) Tokens in India

   To stake Synthetix Network, you first need to acquire it. To obtain Synthetix Network, you will have to purchase it from a cryptocurrency exchange. You can select from these popular platforms available in India.

   Platform	Coin	Cost
   Nexo	Synthetix Network (SNX)	0.74
   YouHodler	Synthetix Network (SNX)	0.74
   Binance	Synthetix Network (SNX)	0.74
   BTSE	Synthetix Network (SNX)	0.74
   Coinbase	Synthetix Network (SNX)	0.74
   Kraken	Synthetix Network (SNX)	0.74

   See all 68 rates

2. 2. Choose a Synthetix Network Wallet in India

   Once you have SNX, you'll need to choose a Synthetix Network wallet to securely store your tokens. Here are some reliable options available in India.

3. 3. Delegate Your SNX in India

   We recommend using a staking pool when staking SNX. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their SNX, increasing their chances of validating transactions and earning rewards. You can easily do this through your wallet's interface.

4. 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 Synthetix Network network. For these validations, you will be rewarded with SNX.

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.