How to Stake Polymesh (POLYX)

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 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 Polymesh (POLYX) Tokens

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

   E-platform	Coin	Cost
   Binance	Polymesh (POLYX)	0.14 APY
   BingX	Polymesh (POLYX)	0.14 APY
   Bitget	Polymesh (POLYX)	0.14 APY
   Bitmart	Polymesh (POLYX)	0.11 APY
   Bitpanda	Polymesh (POLYX)	0.36 APY
   Bybit	Polymesh (POLYX)	0.14 APY

   See all 23 prices in Uganda

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 reliable options to consider.

   E-platform	Coin	Staking rewards in Uganda
   Binance	Polymesh (POLYX)	Up to 8.9% APY
   MyCointainer	Polymesh (POLYX)	Up to 21% APY

3. 3. Delegate Your POLYX

   We recommend using a staking pool when staking POLYX. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their POLYX, 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 Polymesh network. You'll be rewarded with POLYX 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.