How to Stake Onyxcoin (XCN) for optimal returns

Introduction

Staking Onyxcoin can be an excellent choice for those looking to hold XCN 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 Onyxcoin (XCN) Tokens

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

   플랫폼	코인	Price
   Coinbase	Onyxcoin (XCN)	0.01 APY
   Kraken	Onyxcoin (XCN)	0.01 APY
   Uphold	Onyxcoin (XCN)	0.02 APY
   BingX	Onyxcoin (XCN)	0.01 APY
   Bitget	Onyxcoin (XCN)	0 APY
   Bitmart	Onyxcoin (XCN)	0.01 APY

   Check out all 29 prices

2. 2. Select a Onyxcoin Wallet

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

   플랫폼	코인	Staking 보상
   MyCointainer	Onyxcoin (XCN)	Up to 34.85% APY

3. 3. Delegate Your XCN in South Korea

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

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.