Introduction
Staking Dymension can be an excellent choice for individuals in the UAE looking to hold DYM while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-time users. That’s why we’ve created this guide to assist you.
Step-by-Step Guide for UAE Residents
1. Acquire Dymension (DYM) Tokens
To stake Dymension, you first need to acquire it. To obtain Dymension, you will need to purchase it from one of the popular exchanges available in the UAE.
View all 35 pricesPlatform Cryptocurrency Price Binance Dymension (DYM) 0.21 Kraken Dymension (DYM) 0.21 BingX Dymension (DYM) 0.21 Bitfinex Dymension (DYM) 0.21 Bitget Dymension (DYM) 0.21 Bitmart Dymension (DYM) 0.21 2. Select a Dymension Wallet
Once you have DYM, you'll need to select a Dymension wallet to securely store your tokens. Here are some excellent options available in the UAE market.
Explore all 13 staking rewards available in the UAE market.Platform Cryptocurrency Staking rewards in the UAE Binance Dymension (DYM) Up to 29.9% APY Bitget Dymension (DYM) Up to 13.8% APY Bitmart Dymension (DYM) Up to 1% APY Bitpanda Dymension (DYM) Up to 6% APY Chainode Tech Dymension (DYM) Up to 9.02% APY Kucoin Dymension (DYM) Up to 2.5% APY 3. Delegate Your DYM in the UAE
We recommend utilizing a staking pool when staking DYM. It’s more straightforward and quicker to get started. A staking pool consists of a group of validators who pool their DYM, increasing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
4. Begin Verification
You will need to wait for your deposit to be confirmed by your digital wallet. Once it's confirmed, you will automatically validate transactions on the Dymension network. For these validations, you will be rewarded with DYM.
What to Consider in the UAE Market
In the UAE, it's important to factor in transaction and staking pool fees when engaging in cryptocurrency activities. Additionally, you may experience a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take some time to accomplish.
Recent Developments
Dymension (DYM) is currently priced at $13.8 with a 24-hour trading volume of $13.62M. The market cap of Dymension stands at $264.48M, with 222.09M DYM in circulation. For those looking to buy or trade Dymension, Binance offers avenues to do so securely and efficiently
- Market capitalization
- $264.48M
- 24-hour trading volume
- $13.62M
- Circulating supply
- 222.09M DYM