How to Stake Polymesh (POLYX) for optimal returns

Introduction

Staking Polymesh can be an excellent choice for those looking to hold POLYX 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 Polymesh (POLYX) Tokens

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

   플랫폼	코인	Price
   PrimeXBT	Polymesh (POLYX)	0.12 APY
   Binance	Polymesh (POLYX)	0.12 APY
   BingX	Polymesh (POLYX)	0.12 APY
   Bitget	Polymesh (POLYX)	0.12 APY
   Bitmart	Polymesh (POLYX)	0.11 APY
   Bitpanda	Polymesh (POLYX)	0.36 APY

   Check out all 24 prices

2. 2. Select a Polymesh Wallet

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

   플랫폼	코인	Staking 보상
   Binance	Polymesh (POLYX)	Up to 12.13% APY
   MyCointainer	Polymesh (POLYX)	Up to 21% APY

3. 3. Delegate Your POLYX in South Korea

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

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.