Introduction
Staking Synthetix Network can be an excellent choice for those looking to hold SNX 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. Acquire Synthetix Network (SNX) Tokens
To stake Synthetix Network, you must first acquire it. To obtain Synthetix Network, you'll need to buy it. You can select from these well-known exchanges available in Italy.
Check out all 68 pricesPiattaforma Criptovaluta Value Nexo Synthetix Network (SNX) 0.67 APY YouHodler Synthetix Network (SNX) 0.67 APY Binance Synthetix Network (SNX) 0.67 APY BTSE Synthetix Network (SNX) 0.67 APY Coinbase Synthetix Network (SNX) 0.67 APY Kraken Synthetix Network (SNX) 0.67 APY 2. Select a Synthetix Network Wallet
Once you have SNX, you'll need to select a Synthetix Network wallet to securely store your tokens. Here are some excellent options tailored for the Italian market.
3. Delegate Your SNX
We recommend using a staking pool when staking SNX. It's more straightforward and quicker to get started. A staking pool is a collective of validators who pool their SNX, enhancing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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 Synthetix Network network. For these validations, you'll receive rewards in SNX.
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.
Recent Developments
Synthetix Network (SNX) is currently priced at $2 with a 24-hour trading volume of $38.11M. The market cap of Synthetix Network stands at $614.86M, with 339.47M SNX in circulation. For those looking to buy or trade Synthetix Network, FMFW.io offers avenues to do so securely and efficiently
- Market capitalization
- $614.86M
- 24h volume in the Italian market
- $38.11M
- Circulating supply
- 339.47M SNX