How to Stake WAX (WAXP) for optimal returns

Introduction

Staking WAX can be an excellent choice for those looking to hold WAXP 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 WAX (WAXP) Tokens

   To stake WAX, you first need to acquire it. To obtain WAX, 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	WAX (WAXP)	0.01 APY
   OKX	WAX (WAXP)	0.02 APY
   BingX	WAX (WAXP)	0.01 APY
   Bitget	WAX (WAXP)	0.01 APY
   Bitmart	WAX (WAXP)	0.02 APY
   Bitpanda	WAX (WAXP)	0.05 APY

   Check out all 29 prices

2. 2. Select a WAX Wallet

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

   플랫폼	코인	Staking 보상
   Kucoin	WAX (WAXP)	Up to 4% APY

3. 3. Delegate Your WAXP in South Korea

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

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.