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Staking IQ can be an excellent choice for those looking to hold IQ 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.
To stake IQ, you first need to acquire it. To obtain IQ, you'll need to purchase it from a cryptocurrency exchange. You can choose from these popular platforms available in South Korea.
Once you have IQ, you'll need to select a IQ wallet to securely store your tokens. Here are some recommended options that are popular among Korean users.
We recommend using a staking pool when staking IQ. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their IQ, increasing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.
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 IQ network. For these validations, you will be rewarded with IQ.
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.
