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A comprehensive guide on how to stake Polymesh (POLYX)
We have extensive data on staking Polymesh (POLYX) and we are sharing some of this information with you.
We present various staking options with different coins that may pique your interest.
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Staking Polymesh is an excellent choice for those looking to hold POLYX while earning yield securely and supporting the network. The process may seem overwhelming, especially for first-timers. That's why we've created this guide to help you through it.
To stake Polymesh, you first need to acquire it. You can purchase Polymesh from various popular exchanges.
| Platform | Coin | Cost |
|---|---|---|
| PrimeXBT | Polymesh (POLYX) | 0.06 |
| Binance | Polymesh (POLYX) | 0.06 |
| BingX | Polymesh (POLYX) | 0.06 |
| Bitget | Polymesh (POLYX) | 0.06 |
| Bitmart | Polymesh (POLYX) | 0.06 |
| Bitpanda | Polymesh (POLYX) | 0.36 |
Once you have POLYX, you'll need to select a Polymesh wallet to keep your tokens safe. Here are some great options.
| Platform | Coin | Staking benefits |
|---|---|---|
| Binance | Polymesh (POLYX) | Earn up to 12.13% APY |
| MyCointainer | Polymesh (POLYX) | Earn up to 21% APY |
We suggest using a staking pool for staking POLYX. It's easier and quicker to start. A staking pool consists of validators who pool their POLYX, increasing their chances of validating transactions and earning rewards. You can access this via your wallet's interface.
You will need to wait for your deposit to be confirmed by your wallet. Once confirmed, you will automatically validate transactions on the Polymesh network. You will be rewarded with POLYX for these validations.
Consider the transaction and staking pool fees. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, which can take some time.
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