How to Stake ICON (ICX)

Introduction

Staking ICON can be an excellent choice for those looking to hold ICX 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. 1. Acquire ICON (ICX) Tokens

   To stake ICON, you first need to acquire it. To obtain ICON, you'll need to buy it. You can select from these popular exchanges available in South Africa.

   Platform	Mint	Cost
   Binance	ICON (ICX)	0,07
   OKX	ICON (ICX)	0,11
   Uphold	ICON (ICX)	0,11
   BingX	ICON (ICX)	0,07
   Bitget	ICON (ICX)	0,07
   Bitpanda	ICON (ICX)	0,21

   View all 27 prices

2. 2. Select a ICON Wallet

   Once you have ICX, you'll need to choose a ICON wallet to store your tokens securely. Here are some solid options to consider.

   Platform	Mint	Staking rewards in South Africa
   Binance	ICON (ICX)	Up to 6,82% APY
   Everstake	ICON (ICX)	Up to 9,3% APY

   View all 6 staking rewards available

3. 3. Delegate Your ICX

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

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.