How to Stake WAX (WAXP)

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 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 WAX (WAXP) Tokens

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

   E-platform	Coin	Cost
   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

   See all 29 prices in Uganda

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 reliable options to consider.

   E-platform	Coin	Staking rewards in Uganda
   Kucoin	WAX (WAXP)	Up to 4% APY

3. 3. Delegate Your WAXP

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