How to Stake Onyxcoin (XCN)

Introduction

Staking Onyxcoin can be an excellent choice for those looking to hold XCN 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 Onyxcoin (XCN) Tokens

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

   Platform	Mint	Cost
   Coinbase	Onyxcoin (XCN)	0,01
   Kraken	Onyxcoin (XCN)	0,01
   Uphold	Onyxcoin (XCN)	0,02
   BingX	Onyxcoin (XCN)	0,01
   Bitget	Onyxcoin (XCN)	0
   Bitmart	Onyxcoin (XCN)	0,01

   View all 29 prices

2. 2. Select a Onyxcoin Wallet

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

   Platform	Mint	Staking rewards in South Africa
   MyCointainer	Onyxcoin (XCN)	Up to 34,85% APY

3. 3. Delegate Your XCN

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