Where & how to stake WAX (WAXP)

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

1. 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
   Bitpanda	WAX (WAXP)	$0.0338
   OKX	WAX (WAXP)	$0.0339
   Binance	WAX (WAXP)	$0.0302
   Bitmart	WAX (WAXP)	$0.0301
   BingX	WAX (WAXP)	$0.0337
   MEXC Global	WAX (WAXP)	$0.0301

   See all 10 prices

2. 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. 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. 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.

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.