Table of Contents
How to Stake Axie Infinity AXS? Step by Step Staking Guide: Staking is a way to earn passive income on cryptocurrency by holding and supporting the network security of a blockchain. Axie Infinity, a decentralized gaming platform built on the Ethereum network, offers staking opportunities for its native token AXS. In this article, we’ll guide you through the steps of staking Axie Infinity AXS.
Step 1: Acquire AXS Tokens
Before you can start staking, you need to have some AXS tokens. You can buy AXS on popular cryptocurrency exchanges such as Binance, Huobi, and Uniswap. It’s important to store your AXS in a secure wallet that supports staking, such as a hardware wallet or a wallet that integrates with a staking pool.
Step 2: Choose a Staking Pool
Axie Infinity has a variety of staking pools that offer different rewards, lock-up periods, and minimum stake amounts. You can choose the staking pool that best fits your needs and preferences. Some popular staking pools include StakeWith.Us and Moonlet.
Step 3: Stake Your AXS Tokens
Once you have chosen a staking pool, follow the pool’s instructions to stake your AXS tokens. This typically involves sending your AXS from your wallet to the staking pool’s address. The staking pool will then keep track of your staked tokens and share rewards with you as they are earned.
Step 4: Monitor Your Staked Tokens
After staking your AXS tokens, it’s important to monitor your staked tokens and rewards. You can do this by checking your wallet or by visiting the staking pool’s website. Most staking pools will provide regular updates on rewards earned and will automatically distribute rewards to your wallet.
Frequently Asked Questions
What is the minimum amount of AXS required to stake?
The minimum amount of AXS required to stake depends on the staking pool you choose. Some pools have a minimum stake amount as low as 1 AXS, while others have a higher minimum. It’s important to read the details of each staking pool before choosing one.
How long do I need to stake my AXS tokens?
The length of time you need to stake your AXS tokens also depends on the staking pool you choose. Some pools require a minimum lock-up period of 30 days, while others have longer lock-up periods. It’s important to read the details of each staking pool before choosing one.
How often do I receive rewards from staking?
Rewards from staking are typically distributed on a weekly or monthly basis, but this can vary based on the staking pool you choose. It’s important to read the details of each staking pool before choosing one.
Final Words
Staking is a great way to earn passive income on cryptocurrency and support the network security of a blockchain. By following the steps outlined in this guide, you can stake Axie Infinity AXS and start earning rewards. However, it’s important to remember that staking is not without risk, and you should always carefully research and choose a staking pool that fits your needs and preferences.
