How to Stake Axelar (AXL): A Step-by-Step Guide

Introduction

Staking Axelar can be a great option for those who want to hold AXL 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 Axelar (AXL) Tokens
In order to stake Axelar, you need to have it. To obtain Axelar, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Bitpanda Axelar (AXL) 0.9
Uphold Axelar (AXL) 0.96
Binance Axelar (AXL) 0.95
Bitmart Axelar (AXL) 0.95
Gate.io Axelar (AXL) 0
Bake Axelar (AXL) 0.9
See all 10 prices
2. Choose a Axelar Wallet
Once you have AXL, you’ll need to choose a Axelar wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Binance Axelar (AXL) Up to 6.59 APY
Everstake Axelar (AXL) Up to 7 APY
See all 4 staking rewards
3. Delegate Your AXL
We recommend using a staking pool when staking AXL. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their AXL, 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 Axelar network. You’ll be rewarded with AXL for these validations.

Platform	Coin	Price
Bitpanda	Axelar (AXL)	0.9
Uphold	Axelar (AXL)	0.96
Binance	Axelar (AXL)	0.95
Bitmart	Axelar (AXL)	0.95
Gate.io	Axelar (AXL)	0
Bake	Axelar (AXL)	0.9

Platform	Coin	Staking rewards
Binance	Axelar (AXL)	Up to 6.59 APY
Everstake	Axelar (AXL)	Up to 7 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

Axelar (AXL) is currently priced at $8.4 with a 24-hour trading volume of $73,735,475. The market cap of Axelar stands at $962,664,353, with $862,938,677.44 AXL in circulation. For those looking to buy or trade Axelar, Binance offers avenues to do so securely and efficiently}

Market cap: $962.66M
24h volume: $73.74M
Circulating supply: $862.94M

See latest information

Frequently Asked Questions About Staking Axelar (AXL)

What are Axelar (AXL) staking rewards?: Axelar (AXL) staking rewards are incentives given to users who stake their AXL tokens to support network operations like securing the network and processing transactions. These rewards are typically a proportion of the network fees collected. Stay informed for the latest rates and updates using Bitcompare’s tools like real-time price comparisons and Axelar news.
How can I start staking Axelar (AXL) tokens?: To start staking Axelar (AXL) tokens, you first need a compatible wallet to hold your AXL. Follow the staking instructions provided by the wallet or the Axelar network. Regularly use Bitcompare for guides and the latest Axelar events to make informed decisions while staking.
When are Axelar (AXL) staking rewards distributed?: Staking rewards for Axelar (AXL) can vary by platform. Some distribute daily, while others might do so weekly or monthly. For precise timings and updates, utilize Bitcompare’s tools and bookmark their site for the latest Axelar reports and alerts.
What factors influence the amount of Axelar (AXL) staking rewards?: The amount of Axelar (AXL) staking rewards depends on the stake amount, network fees, and the overall volume of staked tokens. Use Bitcompare's real-time analytics and sentiment tools to monitor any changes in the network that might affect rewards.
Are Axelar (AXL) staking rewards taxable?: Tax regulations for staking rewards like Axelar (AXL) vary by jurisdiction. For precise tax obligations, consult local laws or a tax professional. Keep informed through Bitcompare for the latest Axelar updates and to optimize your staking strategy legally.
What is the risk involved in staking Axelar (AXL)?: Staking involves risks such as token price volatility and potential slashing for validator errors. Stay informed of such risks by utilizing Bitcompare’s sentiment analysis and real-time news on Axelar to make cautious decisions.
Is there a minimum amount required to stake Axelar (AXL)?: The minimum amount of Axelar (AXL) required for staking depends on the platform or validator you choose. Check specific requirements through Bitcompare’s crypto comparison tools for exchange rates and staking limit details.
How can I stay informed about Axelar (AXL) staking updates?: Regularly check Bitcompare for Axelar (AXL) updates, including news events, price changes, and staking data. Bookmark the page and set up email alerts to stay ahead in the dynamic crypto market.