Guide: How to stake my NYM?

Guide: How to stake my NYM?


2 min read

A short tutorial on how to stage native NYM tokens

**What is NYM?
**NYM is a decentralized, incentive-based network that provides anonymity to users through mixnet technology that ensures complete data protection and privacy. It develops the infrastructure to prevent this data leakage by protecting the metadata of each packet at the network and application layers.

Step 1 — Buy NYM on Kraken
You can buy native NYM tokens on the Kraken exchange. If you have ERC-20 tokens on other exchanges, you must transfer them from the Ethereum network to NYX, via the Gravity Bridge (see our article on this subject).

Step 2 — Download & install the NYM wallet
Once the purchase is made via Kraken, you will need the native NYM wallet:

Open the official NYM website:
Download the latest version of the NYM software for your operating system and install it.

**Step 3 — Create an account
**Once the application is open, create an account.

Make sure you save your mnemonics safely, avoid keeping them on your computer or mobile. Paper is still the most secure.

After taking note of it, check your mnemonic as requested by the software and set your password. The password must have at least 8 characters, at least one number and one symbol.

Now you can log in with your password.

**Step 4 — Send your Kraken tokens to your NYM wallet
**Open your wallet and select the “Balance” dashboard. Copy your address.

Return to Kraken and withdraw your funds to your portfolio. Withdrawals are completed in minutes. You can view transactions or your balance via the Guru Explorer:

Step 5 — Delegate your tokens

By delegating, you are simply giving your staking power to the mixnode (in this case, No Trust Verify’s) to shuffle packages on your behalf for a small fee. You can cancel your delegation at any time and you are the only one who has full control over your tokens: A mixnode never has access to your tokens!

  1. Mixnode identity (No Trust Verify) APxUbCmGp4K9qDzvwVADJFNu8S3JV1AJBw7q6bS5KN9E

  2. Amount: Choose the amount to delegate (always leave 1 NYM in your wallet to pay the tx fee).

Approve the “Delegate Stake” button. It will take about 7s to confirm your transaction.

The process is complete! It can take up to an hour to take effect.

Keep in mind that delegated tokens are NOT reflected in your balance on the NYM software. If you want to check your delegated or claimable amount, use the explorer and search for your address: