ICON’s consensus algorithm provides a high-security level while allowing all network participants to stake the native cryptocurrency called ICX. In this guide, you will discover a quick step by step guide on ICX staking via mobile ICONex wallet.
This Staking Tutorial is a collaboration between Staking Rewards and Everstake.
Step 1: Download mobile app and Create a wallet
The ICONex wallet is available both for iOS and Android users and can be downloaded from the App Store or Google Play.
Please note, that if you want to change your current delegate then it takes from 5 up to 20 days to unstake your ICX tokens.
Once you install the application, choose to create a new wallet.
Select to create the ICX wallet, enter the desired password, download your wallet Keystore files, and a private key.
Step 2. Staking Process
Once you will be in the main menu click on the ‘Thumbs up’ button and choose to ‘Stake’.
In the staking menu, you can choose the desired amount of ICX you would like to stake by dragging the slider.
Choose the appropriate amount and click the ‘Submit Button’.
It’s also important to mention, that you may be getting an error during the staking process which is caused by the system clock which differs from your current time zone. In this case, the network will reject your staking attempt until you synchronize your clock with your current geolocation.
Please allow up to an hour for your stake to get confirmed by the network.
Step 3. Voting Process
To vote for a preferable P-Rep please click on the ‘Vote’ button.
Then open the ‘P-Reps’ section.
Choose a Provider from the list or click on the ‘Search’ button and enter the name of any providers you would like to stake with into the search query. If you need help choosing someone, you can also refer to the list of trusted providers on our website. Choose the desired amount of voting power by dragging the slide and simply confirm your operation.
Step 4. ICX Claiming
As you already know, users who staked ICX tokens are getting rewards in I-Score which should be converted into ICX tokens once a sufficient amount is reached.
In order to do that, please click on the ‘Thumbs up’ button and choose to ‘I-Score’, ‘Claim’ and ‘Confirm’.
Step 5. Unvoting and Unstaking Process
Please remember that unstaking process is divided into two steps where during the first one you have to unvote your P-Rep, and only then you will be able to unstake your ICX tokens.
This is it! You are now staking ICX.
Check out our ICON Staking Guide Via ICONex Web Wallet
This Staking Tutorial is a collaboration between Staking Rewards and Everstake.
Everstake is one of the main P-Reps in the ICON Network.
If you want to learn more about ICON, feel free to check the Staking Rewards Profile and Calculator.