Introduction

Staking NEM can be an excellent choice for those looking to hold XEM 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 NEM (XEM) Tokens

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

   플랫폼	코인	Price
   Binance	NEM (XEM)	0.02 APY
   BingX	NEM (XEM)	0 APY
   Bitget	NEM (XEM)	0 APY
   Bitmart	NEM (XEM)	0 APY
   Bitpanda	NEM (XEM)	0.03 APY
   Bybit	NEM (XEM)	0 APY

   Check out all 25 prices

2. 2. Select a NEM Wallet

   Once you have XEM, you'll need to select a NEM wallet to securely store your tokens. Here are some recommended options that are popular among Korean users.

3. 3. Delegate Your XEM in South Korea

   We recommend using a staking pool when staking XEM. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their XEM, 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 NEM network. For these validations, you will be rewarded with XEM.

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.