How to Stake Symbol (XYM)

Introduction

Staking Symbol can be an excellent choice for those looking to hold XYM 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 Symbol (XYM) Tokens

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

   Platform	Mint	Cost
   BingX	Symbol (XYM)	0,01
   Bitpanda	Symbol (XYM)	0,03
   CoinEx	Symbol (XYM)	0
   FMFW.io	Symbol (XYM)	0,01
   Gate.io	Symbol (XYM)	0
   Kucoin	Symbol (XYM)	0,01

   View all 15 prices

2. 2. Select a Symbol Wallet

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

   Platform	Mint	Staking rewards in South Africa
   Kucoin	Symbol (XYM)	Up to 3,8% APY

3. 3. Delegate Your XYM

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