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Read moreAs most of you already know, the WEXO Token is listed on its first exchange, and with that comes the opportunity to stake tokens directly in our app. Staking is a great way to earn new WEXO Tokens every day. Here is a simple guide on how to do it.
Guide for Staking WEXO Tokens
1. Opening the Wexo App: Start by opening the Wexo app on your device.
2. Accessing WEXO Tokens: In the app, go to the "Features" section and select "WEXO Token".
3. Information about WEXO Token: A chart with the current price of the WEXO Token will appear. Below the chart, you will find the "Stake" option.
4. Buying WEXO Tokens (if not already purchased):
Click on "Buy".
Choose the method of purchasing WEXO Tokens, either by card or crypto.
Select the amount for which you want to buy WEXO Tokens.
Follow the instructions to complete the purchase.
After completion, the WEXO Tokens will be purchased from the exchange andtransferred to your wallet.
5. Staking Purchased WEXO Tokens: If you already have WEXO Tokens, click on the “Stake" button. Then the Staking section will appear, where you see the total summary of all tokens available for staking, the number of tokens deposited in all stakes, and earnings. Click on "Stake & Earn" and choose a staking pool from the available options.
6. Choosing a Staking Pool: Each staking pool has different rules, conditions, and benefits. Staking pools vary in percentage yield and lock-in.
7. Confirming Staking: After selecting a specific staking pool, click on the “Stake & Earn” button and then choose the number of tokens for staking and confirm your choice.
8. Accepting the Terms: Click on "Continue" and in the next step accept the staking terms.
9. Staking Process: Your WEXO Tokens will be staked for the selected period. Newly acquired tokens within the staking profit will be paid out to you every day.
Basic Characteristics of Operations and Terms in Staking
Staking Profit
By locking WEXO Tokens in staking, you earn a reward defined according to the conditions in the specific staking pool. This staked profit is credited every day.
Restaking WEXO Tokens
Restake: WEXO Tokens that you earn every day as profit within staking can be re-invested into the staking pool, i.e., restaked. The RESTAKE tool is a great way to accelerate the staking mechanism and thus obtain even more Wexo tokens annually.
Paying Out Staking Profit
Claim: Paying out the staking profit, i.e., the tokens you have earned as a reward for staking, can be done by pressing the Claim button to move them to the main wallet. For pre-sale staking, this option will be available 12 months after entering the exchange. In the case of official staking pools, it is possible to pay out the staking profit every day.
Withdrawing from Staking
Unstake: After the end of the Staking Lock period, it will be possible to withdraw WEXO Tokens deposited into staking and transfer them to the main wallet by pressing the Unstake button. The end of the lock-in period is precisely displayed in each staking pool.
FAQ
Q: What is staking?
A: The WEXO Token is part of a huge ecosystem on the Ethereum blockchain and utilizes staking options according to today's modern standards. Staking is a process where cryptocurrency holders can increase their number of tokens by "locking" their tokens for a certain period. This process helps maintain and secure the blockchain network, and you receive regular returns in the form of new tokens as a reward.
Q: How can I start staking WEXO Tokens?
A: You can start by opening the Wexo app, going to the "Features" section, selecting "WEXO Token," and following the steps for staking outlined above.
Q: What is the minimum amount of WEXO Tokens required for staking?
A: For pre-sale token staking, a minimum of 25,000 WEXO Tokens is required. As for tokens purchased from the exchange after listing, they can be staked starting from 1 WEXO Token.
Q: How long should I choose the lock-in period?
A: The lock-in period depends on the specific marketing campaign and current available options. In the Wexo app, you will always find current available staking pools along with information about the lock-in period for each pool. Generally, the longer the lock-in period (staking lock), the more interesting the % APR as a yield.
Q: Can I withdraw my WEXO Tokens at any time?
A: Tokens from staking can be withdrawn after the end of the lock-in period of the given staking pool. The date is always stated in the respective section. Customers are also informed about the end of the lock-in period before confirming the staking order and depositing tokens into the staking pool.
Q: How can I pay out my staking earnings?
A: You can pay out your earnings by clicking on "Pay Out" in the staking section of your app and following the further steps. This staking profit will be credited to your main wallet, after which you can manage it according to your own discretion.