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- 24-hour trading volume
- $1,764.22
Earn up to
5% APY in the UAE.
An in-depth guide on how to stake Wrapped USD (WUSD) in the UAE
We have extensive information on staking Wrapped USD (WUSD), and we are pleased to share some of these insights with you.
We present you with various staking options featuring different cryptocurrencies that may pique your interest.
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Staking Wrapped USD can be an excellent choice for individuals in the UAE looking to hold WUSD 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.
To stake Wrapped USD, you first need to acquire it. To obtain Wrapped USD, you will need to purchase it from one of the popular exchanges available in the UAE.
Once you have WUSD, you'll need to select a Wrapped USD wallet to securely store your tokens. Here are some excellent options available in the UAE market.
| Platform | Cryptocurrency | Staking rewards in the UAE |
|---|---|---|
| Bitmart | Wrapped USD (WUSD) | Up to 5% APY |
We recommend utilizing a staking pool when staking WUSD. It’s more straightforward and quicker to get started. A staking pool consists of a group of validators who pool their WUSD, increasing their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.
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 Wrapped USD network. For these validations, you will be rewarded with WUSD.
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.