How to Stake Binance-Peg IoTeX (IOTX) for optimal returns

Introduction

Staking Binance-Peg IoTeX can be an excellent choice for those looking to hold IOTX while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That’s why we’ve created this guide to assist you.

Step-by-Step Guide for South Korea's Financial Landscape 1

1. 1. Acquire Binance-Peg IoTeX (IOTX) Tokens

   To stake Binance-Peg IoTeX, you first need to acquire it. To obtain Binance-Peg IoTeX, you'll need to purchase it from a cryptocurrency exchange. You can choose from these popular platforms available in South Korea.

   플랫폼	코인	Price
   Azbit	Binance-Peg IoTeX (IOTX)	0.03 APY
   Kucoin	Binance-Peg IoTeX (IOTX)	0.03 APY

2. 2. Select a Binance-Peg IoTeX Wallet

   Once you have IOTX, you'll need to select a Binance-Peg IoTeX wallet to securely store your tokens. Here are some recommended options that are popular among Korean users.

   플랫폼	코인	Staking 보상
   Kucoin	Binance-Peg IoTeX (IOTX)	Up to 2% APY

3. 3. Delegate Your IOTX in South Korea

   We recommend using a staking pool when staking IOTX. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their IOTX, increasing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.

4. 4. Start Validating

   You will need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you will automatically validate transactions on the Binance-Peg IoTeX network. For these validations, you will be rewarded with IOTX.

What to Keep in Mind

You should be aware of the transaction and staking pool fees that apply. Additionally, there may be a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time in the process.