How to Stake Binance-Peg IoTeX (IOTX): A Step-by-Step Guide for South Africans

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 may seem a bit overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.

Step-by-Step Guide for South African Investors

1. Acquire Binance-Peg IoTeX (IOTX) Tokens
To stake Binance-Peg IoTeX, you first need to acquire it. To obtain Binance-Peg IoTeX, you'll need to buy it. You can select from these popular exchanges available in South Africa.
Platform Mint Cost
Azbit Binance-Peg IoTeX (IOTX) 0,01
FMFW.io Binance-Peg IoTeX (IOTX) 0,01
Kucoin Binance-Peg IoTeX (IOTX) 0,01
View all 4 prices
2. Select a Binance-Peg IoTeX Wallet
Once you have IOTX, you'll need to choose a Binance-Peg IoTeX wallet to store your tokens securely. Here are some solid options to consider.
Platform Mint Staking rewards in South Africa
Kucoin Binance-Peg IoTeX (IOTX) Up to 2% APY
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. 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.

Platform	Mint	Cost
Azbit	Binance-Peg IoTeX (IOTX)	0,01
FMFW.io	Binance-Peg IoTeX (IOTX)	0,01
Kucoin	Binance-Peg IoTeX (IOTX)	0,01

Platform	Mint	Staking rewards in South Africa
Kucoin	Binance-Peg IoTeX (IOTX)	Up to 2% APY

What to Keep in Mind

There are transaction and staking pool fees you need to take into account. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this process can take some time.