How to Stake Velas (VLX)

Introduction

Staking Velas can be an excellent choice for those looking to hold VLX 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 Velas (VLX) Tokens

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

   Platform	Mint	Cost
   BingX	Velas (VLX)	0
   CoinEx	Velas (VLX)	0
   FMFW.io	Velas (VLX)	0
   Gate.io	Velas (VLX)	0
   HTX	Velas (VLX)	0
   MEXC Global	Velas (VLX)	6,39

   View all 13 prices

2. 2. Select a Velas Wallet

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

   Platform	Mint	Staking rewards in South Africa
   MyCointainer	Velas (VLX)	Up to 8,7% APY

3. 3. Delegate Your VLX

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