How to Stake WAX (WAXP): A Step-by-Step Guide

Introduction

Staking WAX can be a great option for those who want to hold WAXP 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. Obtain WAX (WAXP) Tokens
In order to stake WAX, you need to have it. To obtain WAX, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
OKX WAX (WAXP) 0.04
Binance WAX (WAXP) 0.04
Bitmart WAX (WAXP) 0.04
MEXC Global WAX (WAXP) 0.04
Bitget WAX (WAXP) 0.04
BingX WAX (WAXP) 0.04
See all 15 prices
2. Choose a WAX Wallet
Once you have WAXP, you’ll need to choose a WAX wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Kucoin WAX (WAXP) Up to 4 APY
3. Delegate Your WAXP
We recommend using a staking pool when staking WAXP. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their WAXP, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
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 WAX network. You’ll be rewarded with WAXP for these validations.

Platform	Coin	Price
OKX	WAX (WAXP)	0.04
Binance	WAX (WAXP)	0.04
Bitmart	WAX (WAXP)	0.04
MEXC Global	WAX (WAXP)	0.04
Bitget	WAX (WAXP)	0.04
BingX	WAX (WAXP)	0.04

Platform	Coin	Staking rewards
Kucoin	WAX (WAXP)	Up to 4 APY

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.

Latest Movements

WAX (WAXP) is currently priced at $4 with a 24-hour trading volume of $14.02M. The market cap of WAX stands at $149.09M, with $3.5B WAXP in circulation. For those looking to buy or trade WAX, Kucoin offers avenues to do so securely and efficiently}

Market cap: $149.09M
24h volume: $14.02M
Circulating supply: $3.5B

See latest information

Frequently Asked Questions About Staking WAX (WAXP)

What are WAX (WAXP) staking rewards?: WAX (WAXP) staking rewards are incentives given to users who lock or 'stake' their WAXP tokens to support the network’s operations. This can help secure the blockchain and validate transactions.
How can I stake my WAXP tokens?: To stake WAXP tokens, you can use a compatible wallet or exchange that supports WAX staking. You'll need to lock your tokens in the staking platform to begin earning rewards.
How are WAX staking rewards calculated?: WAX staking rewards are typically calculated based on the number of tokens staked and the overall performance of the network. Keeping track of token performance on Bitcompare can be useful.
What are the risks involved in staking WAXP?: Risks involved in staking WAXP include potential market volatility, changes in network reward structures, and technical issues with staking platforms. Stay informed using sentinel tools.
How often do I receive staking rewards?: The frequency of staking rewards depends on the platform or wallet you use. Some distribute rewards daily, while others may have different schedules.
Can I sell my staked WAXP?: Generally, you can't sell staked WAXP immediately. You'll need to unstake them, which may take some time depending on the platform's regulations.
What is a real-time price comparison for WAXP?: A real-time price comparison for WAXP allows you to see current token prices across multiple exchanges, helping to find the best rates quickly. This can be easily monitored on Bitcompare.
Are there email alerts available for WAX staking updates?: Yes, you can receive email alerts for WAX staking updates and price changes to help you track your investments more efficiently. Sign up for this through platforms like Bitcompare.
How can sentiment analysis assist with WAX staking?: Sentiment analysis helps determine the general market mood towards WAX, allowing better-informed decisions. Keep track of such analyses on trusted platforms for the latest insights.
Where can I find the latest news about WAX?: Check platforms like Bitcompare for the latest WAX news, sentiment analysis, and events. Regular updates can help you stay agile in the fast-paced crypto environment.