How to Stake Polymesh (POLYX)

Introduction

Staking Polymesh can be an excellent choice for those looking to hold POLYX 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 Polymesh (POLYX) Tokens

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

   Piattaforma	Criptovaluta	Value
   PrimeXBT	Polymesh (POLYX)	0,12 APY
   Binance	Polymesh (POLYX)	0,12 APY
   BingX	Polymesh (POLYX)	0,12 APY
   Bitget	Polymesh (POLYX)	0,12 APY
   Bitmart	Polymesh (POLYX)	0,11 APY
   Bitpanda	Polymesh (POLYX)	0,36 APY

   Check out all 24 prices

2. 2. Select a Polymesh Wallet

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

   Piattaforma	Criptovaluta	Staking rewards
   Binance	Polymesh (POLYX)	Up to 12,13% APY
   MyCointainer	Polymesh (POLYX)	Up to 21% APY

3. 3. Delegate Your POLYX

   We recommend using a staking pool when staking POLYX. It's more straightforward and quicker to get started. A staking pool is a collective of validators who pool their POLYX, 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 Polymesh network. For these validations, you'll receive rewards in POLYX.

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.