Introduction

Staking Polkadot can be a great option for those who want to hold DOT but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-step

  1. 1

    Obtain Polkadot (DOT) tokens

    In order to stake Polkadot, you need to have it. To obtain Polkadot, you'll need to purchase it. You can choose from these popular exchanges.

  2. 2

    Choose a Polkadot wallet

    Once you have DOT, you’ll need to choose a Polkadot wallet to store your tokens. Ledger is always a good option.

  3. 3

    Delegate your DOT

    We recommend using a staking pool when staking DOT. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their DOT, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.

  4. 4

    Start validating

    You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the Polkadot network. You’ll be rewarded with DOT for these validations.

What to be aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.

Latest movements

Polkadot (DOT) is currently priced at $6.72, with a 24-hour trading volume of $239.39M. In the last 24 hours, Polkadot has experienced a decrease to -0.93. The market cap of Polkadot stands at $9.63B, with 1.43B in circulation. For those looking to buy or trade Polkadot, reputable platforms like OKX, Binance, Coinbase, BTSE, Kraken and YouHodler offer avenues to do so securely and efficiently.

Market cap
$9.63B
Volume
$239.39M
Circulating supply
$1.43B
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Frequently asked questions about staking Polkadot (DOT)

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