Introduction
Staking Polymesh can be an excellent choice for those looking to hold POLYX 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 Polymesh (POLYX) Tokens
To stake Polymesh, you first need to acquire it. To obtain Polymesh, you'll need to buy it. You can select from these popular exchanges available in South Africa.
View all 23 pricesPlatform Mint Cost Binance Polymesh (POLYX) 0,13 BingX Polymesh (POLYX) 0,13 Bitget Polymesh (POLYX) 0,13 Bitmart Polymesh (POLYX) 0,11 Bitpanda Polymesh (POLYX) 0,36 Bybit Polymesh (POLYX) 0,13 2. Select a Polymesh Wallet
Once you have POLYX, you'll need to choose a Polymesh wallet to store your tokens securely. Here are some solid options to consider.
Platform Mint Staking rewards in South Africa Binance Polymesh (POLYX) Up to 12,12% APY MyCointainer Polymesh (POLYX) Up to 21% APY 3. Delegate Your POLYX
We recommend using a staking pool when staking POLYX. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their POLYX, 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 Polymesh network. You'll be rewarded with POLYX 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.
Latest Movements in the Market
Polymesh (POLYX) is currently priced at US$21 with a 24-hour trading volume of US$13,62M. The market cap of Polymesh stands at US$310,94M, with 1,12B POLYX in circulation. For those looking to buy or trade Polymesh, Binance offers avenues to do so securely and efficiently
- Market capitalisation
- US$310,94M
- 24-hour trading volume
- US$13,62M
- Circulating supply
- 1,12B POLYX