Earn up to
2% APY
A comprehensive guide on how to stake Synthetix Network (SNX)
We have a wealth of information on staking Synthetix Network (SNX) and we're excited to share some of this with you.
We present some staking options with other cryptocurrencies that may pique your interest.
Synthetix Network (SNX) is currently priced at US$2 with a 24-hour trading volume of US$38,11M. The market cap of Synthetix Network stands at US$614,86M, with 339,47M SNX in circulation. For those looking to buy or trade Synthetix Network, FMFW.io offers avenues to do so securely and efficiently
Staking Synthetix Network can be an excellent choice for those looking to hold SNX 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.
To stake Synthetix Network, you first need to acquire it. To obtain Synthetix Network, you'll need to buy it. You can select from these popular exchanges available in South Africa.
Once you have SNX, you'll need to choose a Synthetix Network wallet to store your tokens securely. Here are some solid options to consider.
We recommend using a staking pool when staking SNX. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their SNX, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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 Synthetix Network network. You'll be rewarded with SNX for these validations.
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.
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