How to Stake Polymesh (POLYX)

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. 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.

   Platform	Mint	Cost
   PrimeXBT	Polymesh (POLYX)	0,12
   Binance	Polymesh (POLYX)	0,12
   BingX	Polymesh (POLYX)	0,12
   Bitget	Polymesh (POLYX)	0,12
   Bitmart	Polymesh (POLYX)	0,11
   Bitpanda	Polymesh (POLYX)	0,36

   View all 24 prices

2. 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 12,13% APY
   MyCointainer	Polymesh (POLYX)	Up to 21% APY

3. 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. 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.