How to Stake Binance-Peg IoTeX (IOTX)

Introduction

Staking Binance-Peg IoTeX can be an excellent choice for those looking to hold IOTX while earning APY in a secure manner and supporting the network. The process might seem a bit overwhelming, particularly if you're doing it for the first time. That's why we've created this guide specifically for you.

Step-by-Step Guide for Ugandan Investors

1. 1. Acquire Binance-Peg IoTeX (IOTX) Tokens

   To stake Binance-Peg IoTeX, you first need to acquire it. To obtain Binance-Peg IoTeX, you will have to buy it. You can select from these well-known exchanges available in Uganda.

   E-platform	Coin	Cost
   Azbit	Binance-Peg IoTeX (IOTX)	0.01 APY
   FMFW.io	Binance-Peg IoTeX (IOTX)	0.01 APY
   Kucoin	Binance-Peg IoTeX (IOTX)	0.01 APY

   See all 4 prices in Uganda

2. 2. Select a Binance-Peg IoTeX Wallet

   Once you have IOTX, you'll need to select a Binance-Peg IoTeX wallet to securely store your tokens. Here are some reliable options to consider.

   E-platform	Coin	Staking rewards in Uganda
   Kucoin	Binance-Peg IoTeX (IOTX)	Up to 2% APY

3. 3. Delegate Your IOTX

   We recommend using a staking pool when staking IOTX. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their IOTX, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 4. Start Validating

   You'll need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the Binance-Peg IoTeX network. You'll be rewarded with IOTX for these validations.

What to Keep in Mind

There are transaction and staking pool fees you need to keep in mind. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, which can take a bit of time.