How to Stake IRISnet (IRIS) for optimal returns

Introduction

Staking IRISnet can be an excellent choice for those looking to hold IRIS 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 IRISnet (IRIS) Tokens

   To stake IRISnet, you first need to acquire it. To obtain IRISnet, 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	IRISnet (IRIS)	0.01 APY
   Bitpanda	IRISnet (IRIS)	0.01 APY
   CoinEx	IRISnet (IRIS)	0.000516 APY
   Crypto.com	IRISnet (IRIS)	0.01 APY
   Gate.io	IRISnet (IRIS)	0.0005151 APY

   Check out all 7 prices

2. 2. Select a IRISnet Wallet

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

   플랫폼	코인	Staking 보상
   Moonstake	IRISnet (IRIS)	Up to 6.83% APY
   Stakewolle	IRISnet (IRIS)	Up to 9.83% APY
   Stakin	IRISnet (IRIS)	Up to 11.78% APY

   Check out all 6 staking rewards available.

3. 3. Delegate Your IRIS in South Korea

   We recommend using a staking pool when staking IRIS. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their IRIS, 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 IRISnet network. For these validations, you will be rewarded with IRIS.

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.