How to get POKT coins

To acquire POKT coins, one can purchase them on cryptocurrency exchanges like Binance, Coinbase, or Huobi Global, participate in staking to earn rewards, or become a validator for significant contributions to the network.

Dec 04, 2024 at 12:42 pm

How to Get POKT Coins: A Comprehensive Guide

Introduction

POKT is the native token of the POKT Network, a decentralized network that provides a scalable, cost-effective, and secure infrastructure for blockchain applications. POKT coins serve various purposes within the ecosystem, including rewarding validators, facilitating governance, and ensuring network stability. This guide will delve into the different ways to acquire POKT coins, from purchasing them on exchanges to earning them through staking and validator rewards.

1. Purchase POKT Coins on Exchanges

One of the most straightforward ways to obtain POKT coins is to purchase them on cryptocurrency exchanges. Several reputable exchanges list POKT, including:

Binance: The largest cryptocurrency exchange by trading volume, Binance offers POKT trading pairs against both fiat currencies (e.g., USD, EUR) and other cryptocurrencies (e.g., BTC, ETH).

Coinbase: A well-known exchange with a strong focus on security and ease of use, Coinbase facilitates POKT trading with USD, EUR, and GBP.

Huobi Global: A long-established exchange with a large user base in Asia, Huobi offers POKT trading against a variety of cryptocurrencies.

To purchase POKT on an exchange:

• Create an account on your preferred exchange and complete the necessary verification procedures.
• Fund your account using a supported fiat currency or other cryptocurrency.
• Navigate to the POKT trading page and select the appropriate trading pair.
• Specify the amount of POKT you wish to purchase and execute the trade.

2. Earn POKT Coins Through Staking

Staking is a process where you lock up your POKT coins in a wallet to support the POKT Network. In return for staking, you earn rewards in the form of additional POKT coins. Staking contributes to the security and stability of the network, as it requires validators to maintain a minimum stake to participate in consensus.

To stake POKT:

• Obtain a POKT wallet that supports staking, such as the official POKT desktop wallet or a hardware wallet like Ledger or Trezor.
• Transfer your POKT coins to your staking wallet.
• Choose a staking pool or set up your own node.
• Delegate your POKT coins to the staking pool or node.

Your rewards will be proportional to the size of your stake and the length of time you stake your coins. The more POKT coins you stake and the longer you stake them, the greater your rewards will be.

3. Earn POKT Coins as Validator Rewards

Validators are essential to the POKT Network, as they are responsible for verifying transactions and maintaining the blockchain. Validators earn POKT coin rewards for their contributions to the network. Becoming a validator requires significant technical expertise, infrastructure, and a substantial stake of POKT coins.

To become a validator:

• Fulfill the technical requirements, including maintaining a high-performance node.
• Stake a minimum amount of POKT coins, currently set at 250,000 POKT.
• Pass the validator onboarding process conducted by the POKT Network.

Benefits of validating:

• Earn substantial POKT coin rewards.