How to Stake GMX (GMX)

Introduction

Staking GMX can be an excellent choice for those looking to hold GMX while earning APY in a secure manner and supporting the network. The process might seem a bit overwhelming, particularly if you're doing it for the first time. That's why we've created this guide specifically for you.

Step-by-Step Guide for Ugandan Investors

1. 1. Acquire GMX (GMX) Tokens

   To stake GMX, you first need to acquire it. To obtain GMX, you will have to buy it. You can select from these well-known exchanges available in Uganda.

   E-platform	Coin	Cost
   Nexo	GMX (GMX)	15.22 APY
   PrimeXBT	GMX (GMX)	15.27 APY
   Uphold	GMX (GMX)	16.06 APY
   OKX	GMX (GMX)	15.28 APY
   Binance	GMX (GMX)	15.28 APY
   BingX	GMX (GMX)	15.28 APY

   See all 36 prices in Uganda

2. 2. Select a GMX Wallet

   Once you have GMX, you'll need to select a GMX wallet to securely store your tokens. Here are some reliable options to consider.

   E-platform	Coin	Staking rewards in Uganda
   Binance	GMX (GMX)	Up to 5.9% APY

3. 3. Delegate Your GMX

   We recommend using a staking pool when staking GMX. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their GMX, which increases their chances of validating transactions and earning rewards. You can manage 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 GMX network. You'll be rewarded with GMX for these validations.

What to Keep in Mind

There are transaction and staking pool fees you need to keep in mind. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, which can take a bit of time.