How to Stake Covalent X Token (CXT): A Step-by-Step Guide for Korean Investors

Introduction

Staking Covalent X Token can be an excellent choice for those looking to hold CXT while earning APY 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 to assist you.

Step-by-Step Guide for South Korea's Financial Landscape 1

1. Acquire Covalent X Token (CXT) Tokens

To stake Covalent X Token, you first need to acquire it. To obtain Covalent X Token, you'll need to purchase it from a cryptocurrency exchange. You can choose from these popular platforms available in South Korea.

플랫폼	코인	Price
Kraken	Covalent X Token (CXT)	0.01 APY
OKX	Covalent X Token (CXT)	0.03 APY
Uphold	Covalent X Token (CXT)	0.03 APY
BingX	Covalent X Token (CXT)	0.01 APY
Bitmart	Covalent X Token (CXT)	0.01 APY
Bitstamp	Covalent X Token (CXT)	0.01 APY

Check out all 23 prices

2. Select a Covalent X Token Wallet
Once you have CXT, you'll need to select a Covalent X Token wallet to securely store your tokens. Here are some recommended options that are popular among Korean users.
3. Delegate Your CXT in South Korea
We recommend using a staking pool when staking CXT. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their CXT, increasing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.
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 Covalent X Token network. For these validations, you will be rewarded with CXT.

What to Keep in Mind

You should be aware of the transaction and staking pool fees that apply. Additionally, there may be a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time in the process.