First of all, you have to install the ICON wallet,
The most popular options:
ICONex Wallet
MyICONWallet Web
MyICONWallet Android
MyICONWallet IOS
Once installed, you have a few options to choose from:
- If you are a new user, you have to create a new wallet account by going through a series of simple steps like choosing your wallet name, password, downloading your Keystore file, and saving your private key.
- In case you already have an account, then you can load your wallet using your Keystore file or private key.
- The other option is to use the ICX wallet through your Ledger Wallet.
Let’s take a look at the ICONex
Once downloaded and installed, proceed to the wallet creation and click on the ‘Create Wallet’ button.
Then you will have to go through the wallet creation process.
Simply choose the desired wallet name, set up a password, save the backup file and the private key in a safe place, and proceed further
Once you are in the main menu, click on the ‘Voting’ button.
Proceed to the ‘My Status’ section of the wallet.
To proceed with the staking process simply click on the ‘Adjust’ button in the ‘Stake’ section of the menu.
Done! You have staked your ICX! Now you have to vote.
Find the best P-Rep as for example Piconbello and choose it — in the search bar enter the PiconbelloDAO and click on the ‘+’ sign on the very left side of the search query results.
By moving the slider you will be able to adjust the desired amount of ICX you want to stake.
Then simply confirm your operation by clicking on the Vote button.
The voting and staking processes were performed successfully, and now you will be able to see that in your main menu.
Once you stake your ICX, in 48 hours you will be getting first ‘I-Score’ as a reward, and only then you can claim your ICX by converting the ‘I-Score’.
The most simple ICON reward and staking calculator you will find here — https://icxstakr.io/
What’s the ROI for staking?
11%
Is there a minimum amount that I can stake?
At the moment, there are no requirements for a minimum staking amount.
How long should I wait to restake with another P-Rep?
At any time you can easily switch to other P-Rep candidates and move your stake, so the lock-up period doesn’t restrict you from doing that.
Is it secure to stake ICX?
As with most of the PoS blockchains, the staked ICX doesn’t leave your wallet and remains there until you undelegate it with a particular node.
What is the unstaking period?
7 days
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