How to Stake GMX (GMX)

Introduction

Staking GMX can be an excellent choice for those looking to hold GMX while earning APY in a secure manner and supporting the network. The process may seem a bit intimidating, particularly for first-timers. That’s why we’ve created this guide to assist you.

Step-by-Step Guide for Italian Investors

1. 1. Acquire GMX (GMX) Tokens

   To stake GMX, you must first acquire it. To obtain GMX, you'll need to buy it. You can select from these well-known exchanges available in Italy.

   Piattaforma	Criptovaluta	Value
   Nexo	GMX (GMX)	14,76 APY
   PrimeXBT	GMX (GMX)	14,74 APY
   Uphold	GMX (GMX)	16,06 APY
   OKX	GMX (GMX)	14,78 APY
   Binance	GMX (GMX)	14,77 APY
   BingX	GMX (GMX)	14,76 APY

   Check out all 36 prices

2. 2. Select a GMX Wallet

   Once you have GMX, you'll need to select a GMX wallet to securely store your tokens. Here are some excellent options tailored for the Italian market.

   Piattaforma	Criptovaluta	Staking rewards
   Binance	GMX (GMX)	Up to 5,9% APY

3. 3. Delegate Your GMX

   We recommend using a staking pool when staking GMX. It's more straightforward and quicker to get started. A staking pool is a collective of validators who pool their GMX, enhancing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 4. Begin the Validation Process

   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 GMX network. For these validations, you'll receive rewards in GMX.

What to Consider in Italy

When engaging in staking, it's important to factor in the transaction and staking pool fees. Additionally, you may encounter a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time.