Where & How to Stake Bitcoin Name Service System (BNSX)

Introduction

Staking Bitcoin Name Service System can be a great option for those who want to hold BNSX 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 Bitcoin Name Service System (BNSX) Tokens

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

   Platform	Coin	Price
   Bitmart	Bitcoin Name Service System (BNSX)	$0.0675

2. 2. Choose a Bitcoin Name Service System Wallet

   Once you have BNSX, you’ll need to choose a Bitcoin Name Service System wallet to store your tokens. Here are some good options.

   Platform	Coin	Staking rewards
   Bitmart	Bitcoin Name Service System (BNSX)	Up to 1% APY

3. 3. Delegate Your BNSX

   We recommend using a staking pool when staking BNSX. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their BNSX, 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 Bitcoin Name Service System network. You’ll be rewarded with BNSX 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.