How to Stake ICON (ICX) for optimal returns

Introduction

Staking ICON can be an excellent choice for those looking to hold ICX 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. 1. Acquire ICON (ICX) Tokens

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

   플랫폼	코인	Price
   Binance	ICON (ICX)	0.06 APY
   OKX	ICON (ICX)	0.11 APY
   Uphold	ICON (ICX)	0.11 APY
   BingX	ICON (ICX)	0.06 APY
   Bitget	ICON (ICX)	0.06 APY
   Bitpanda	ICON (ICX)	0.21 APY

   Check out all 27 prices

2. 2. Select a ICON Wallet

   Once you have ICX, you'll need to select a ICON wallet to securely store your tokens. Here are some recommended options that are popular among Korean users.

   플랫폼	코인	Staking 보상
   Binance	ICON (ICX)	Up to 6.82% APY
   Everstake	ICON (ICX)	Up to 9.3% APY

   Check out all 6 staking rewards available.

3. 3. Delegate Your ICX in South Korea

   We recommend using a staking pool when staking ICX. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their ICX, increasing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.

4. 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 ICON network. For these validations, you will be rewarded with ICX.

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.