Introduction
Staking ICON can be a great option for those who want to hold ICX 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 ICON (ICX) Tokens
In order to stake ICON, you need to have it. To obtain ICON, you'll need to purchase it. You can choose from these popular exchanges.
See all 14 pricesPlatform Coin Price Uphold ICON (ICX) 0.2 OKX ICON (ICX) 0.2 Binance ICON (ICX) 0.2 Bitget ICON (ICX) 0.2 BingX ICON (ICX) 0.2 Gate.io ICON (ICX) 0.2 2. Choose a ICON Wallet
Once you have ICX, you’ll need to choose a ICON wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards Binance ICON (ICX) Up to 3.19 APY Stakin ICON (ICX) Up to 6.5 APY Everstake ICON (ICX) Up to 6.3 APY 3. Delegate Your ICX
We recommend using a staking pool when staking ICX. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their ICX, 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 ICON network. You’ll be rewarded with ICX for these validations.
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
ICON (ICX) is currently priced at $3.19 with a 24-hour trading volume of $5.54M. The market cap of ICON stands at $201.58M, with $1.04B ICX in circulation. For those looking to buy or trade ICON, Binance offers avenues to do so securely and efficiently}
- Market cap
- $201.58M
- 24h volume
- $5.54M
- Circulating supply
- $1.04B
Frequently Asked Questions About Staking ICON (ICX)
- What are ICON (ICX) staking rewards?
- ICON (ICX) staking rewards are benefits earned by holders who stake their ICX tokens on the network. These rewards are distributed based on the amount of ICX staked and the network's performance. Regularly check platforms like Bitcompare for updates on rates and market sentiment.
- How can I calculate my expected staking rewards?
- Expected staking rewards depend on various factors including the total ICX staked and any changes in network parameters. Use tools on Bitcompare for real-time analytics and price comparisons to estimate your rewards effectively.
- How often are staking rewards distributed?
- ICON staking rewards are typically distributed at network-determined intervals. Stay informed by using Bitcompare's tools like email alerts for the latest information on distribution schedules.
- Do staking rewards vary depending on the staking platform?
- Yes, rewards can vary depending on the platform's policies and the total ICX staked. Bitcompare provides valuable insights into different platforms, helping you compare rates and make informed decisions.
- Are there any risks in staking ICON (ICX)?
- While staking can offer rewards, it also involves risks like network volatility. Stay updated with market analysis tools on Bitcompare to manage risks effectively and keep abreast of any changes or news.
- Can I withdraw my ICX tokens at any time during staking?
- Withdrawal policies depend on the staking platform. Each platform has specific rules regarding un-staking and withdrawal. Review Bitcompare's comparisons for details on various platforms and their terms.
- How does market sentiment affect ICON staking?
- Market sentiment can impact ICX's price and, subsequently, staking rewards. Bitcompare offers sentiment analysis tools and the latest news to help you stay informed about market trends and sentiment shifts.
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