Introduction
Staking IoTeX can be a great option for those who want to hold IOTX but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-Step Guide
1. Obtain IoTeX (IOTX) Tokens
In order to stake IoTeX, you need to have it. To obtain IoTeX, you'll need to purchase it. You can choose from these popular exchanges.
See all 16 pricesPlatform Coin Price Bitpanda IoTeX (IOTX) 0.05 Binance IoTeX (IOTX) 0.04 Coinbase IoTeX (IOTX) 0.05 BTSE IoTeX (IOTX) 0.05 Bitmart IoTeX (IOTX) 0.04 MEXC Global IoTeX (IOTX) 0.05 2. Choose a IoTeX Wallet
Once you have IOTX, you’ll need to choose a IoTeX wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards Bitget IoTeX (IOTX) Up to 12 APY Binance IoTeX (IOTX) Up to 5.9 APY 3. Delegate Your IOTX
We recommend using a staking pool when staking IOTX. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their IOTX, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
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 IoTeX network. You’ll be rewarded with IOTX for these validations.
What to be Aware of
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
Latest Movements
IoTeX (IOTX) is currently priced at $5.9 with a 24-hour trading volume of $230,965,393. The market cap of IoTeX stands at $446,384,692, with $9,441,369,057 IOTX in circulation. For those looking to buy or trade IoTeX, Bitget offers avenues to do so securely and efficiently}
- Market cap
- $446.38M
- 24h volume
- $230.97M
- Circulating supply
- $9.44B
Frequently Asked Questions About Staking IoTeX (IOTX)
- What is IoTeX staking?
- IoTeX staking involves locking up IOTX tokens to participate in network security and governance, earning staking rewards in return. Staking helps secure the network and may provide a way to earn additional IOTX.
- How do I stake my IoTeX tokens?
- Staking IoTeX tokens typically involves using a wallet that supports IOTX staking. You select a validator to delegate your tokens to, and your tokens are then staked, earning rewards over time.
- What rewards can I earn by staking IOTX?
- The rewards from staking IOTX depend on various factors, including the amount staked, the network's staking rate, and the performance of the selected validators. Check Bitcompare for the latest staking rates.
- When do I receive my staking rewards?
- Staking rewards are typically distributed periodically, depending on the staking protocols of IoTeX. It's essential to stay updated with the latest distributions and adjustments.
- What are the risks of staking IoTeX?
- While staking IoTeX can earn rewards, it carries risks such as validator misbehavior, which can result in reduced rewards or penalties. Regular checks on validator performance and network conditions are advised.
- Can I unstake my IOTX tokens anytime?
- Yes, you can usually unstake your IOTX tokens, but there might be a lock-up period during which your tokens remain unavailable. Ensure you review the unstaking period and potential penalties.
- How can I keep informed about IoTeX staking rates?
- Stay informed by regularly checking crypto platforms like Bitcompare. They provide real-time price comparisons, alerts, and analyses that help in tracking IoTeX staking rates effectively.
- Why should I use Bitcompare for IoTeX updates?
- Bitcompare offers tools like real-time price comparisons, email alerts, and the latest in IoTeX news, ensuring users stay informed to make smart decisions in the evolving crypto market.
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