Where & How to Stake GMX (GMX)

Introduction

Staking GMX can be a great option for those who want to hold GMX but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. 1. Obtain GMX (GMX) Tokens

   In order to stake GMX, you need to have it. To obtain GMX, you'll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Nexo	GMX (GMX)	$22.95
   Bitpanda	GMX (GMX)	$23.25
   Uphold	GMX (GMX)	$23.28
   Kraken	GMX (GMX)	$22.92
   OKX	GMX (GMX)	$22.94
   Binance	GMX (GMX)	$22.96

   See all 14 prices

2. 2. Choose a GMX Wallet

   Once you have GMX, you’ll need to choose a GMX wallet to store your tokens. Here are some good options.

   Platform	Coin	Staking rewards
   Binance	GMX (GMX)	Up to 1% APY

3. 3. Delegate Your GMX

   We recommend using a staking pool when staking GMX. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their GMX, which gives them a higher chance of validating transactions and earning rewards. You can do 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 GMX network. You’ll be rewarded with GMX for these validations.

What to be Aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.