How to Stake Polkadot (DOT): A Step-by-Step Guide

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 Guide

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.
Platform Coin Price
Nexo Polkadot (DOT) 4.56
PrimeXBT Polkadot (DOT) 4.54
M2 Polkadot (DOT) 4.54
Uphold Polkadot (DOT) 4.54
EarnPark Polkadot (DOT) 4.55
OKX Polkadot (DOT) 4.54
See all 67 prices
2. Choose a Polkadot Wallet
Once you have DOT, you’ll need to choose a Polkadot wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Uphold Polkadot (DOT) Up to 9.6 APY
YouHodler Polkadot (DOT) Up to 15 APY
MyCointainer Polkadot (DOT) Up to 7.09 APY
Bitget Polkadot (DOT) Up to 13 APY
Binance Polkadot (DOT) Up to 8 APY
See all 30 staking rewards
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. 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.

Platform	Coin	Price
Nexo	Polkadot (DOT)	4.56
PrimeXBT	Polkadot (DOT)	4.54
M2	Polkadot (DOT)	4.54
Uphold	Polkadot (DOT)	4.54
EarnPark	Polkadot (DOT)	4.55
OKX	Polkadot (DOT)	4.54

Platform	Coin	Staking rewards
Uphold	Polkadot (DOT)	Up to 9.6 APY
YouHodler	Polkadot (DOT)	Up to 15 APY
MyCointainer	Polkadot (DOT)	Up to 7.09 APY
Bitget	Polkadot (DOT)	Up to 13 APY
Binance	Polkadot (DOT)	Up to 8 APY

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 $14 with a 24-hour trading volume of $318.92M. The market cap of Polkadot stands at $10.07B, with 1.52B DOT in circulation. For those looking to buy or trade Polkadot, Uphold offers avenues to do so securely and efficiently}

Market cap: $10.07B
24h volume: $318.92M
Circulating supply: 1.52B DOT

See latest information

Frequently Asked Questions About Staking Polkadot (DOT)

What are Polkadot (DOT) staking rewards?: Staking rewards are incentives given to those who participate in securing the Polkadot network by bonding their DOT tokens. The rewards are generated from network fees and inflation.
How can I earn staking rewards with Polkadot?: To earn staking rewards, you need to bond your DOT tokens and participate in the network's validation process, either as a validator or a nominator. Stay informed using Bitcompare's tools for the latest info.
What is the expected return on Polkadot staking?: Expected returns on Polkadot staking can vary based on network dynamics, validator performance, and staking amount. Use Bitcompare for real-time rates and sentiment analysis to stay updated.
Are there risks involved in staking Polkadot?: While staking offers rewards, it also carries risks such as slashing for misbehavior or downtime of validators. Use Bitcompare's tools to monitor market changes and manage risks effectively.
How often are Polkadot staking rewards paid out?: Staking rewards are typically paid out every era, which lasts about 24 hours on Polkadot. Remember to check Bitcompare regularly for the latest payment updates and news events.
What is the minimum amount of DOT needed for staking?: The minimum amount of DOT required can vary based on validator preferences and network conditions. Stay informed with Bitcompare's real-time data to make well-informed decisions.
Can I trade or transfer my staked DOT?: While your DOT tokens are bonded for staking, they cannot be traded or transferred. Check Bitcompare’s updates to help decide when to un-stake based on market conditions.