How to Stake DeFiChain (DFI) in Australia

Introduction

Staking DeFiChain can be a great option for those who want to hold DFI while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.

Step-by-Step Guide

1. 1. Obtain DeFiChain (DFI) Tokens

   To stake DeFiChain, you need to own it. To obtain DeFiChain, you'll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Cost
   Bake	DeFiChain (DFI)	0.0009026
   Bitget	DeFiChain (DFI)	0.03
   CoinEx	DeFiChain (DFI)	0
   Gate.io	DeFiChain (DFI)	0.000817
   HTX	DeFiChain (DFI)	0
   MEXC Global	DeFiChain (DFI)	0.000857

   See all 11 prices

2. 2. Choose a DeFiChain Wallet

   Once you have DFI, you'll need to choose a DeFiChain wallet to store your tokens. Here are some great options.

   Platform	Coin	Staking returns
   Bake	DeFiChain (DFI)	Up to 2.04% % p.a.

3. 3. Delegate Your DFI

   We recommend using a staking pool when staking DFI. It's simpler and quicker to get started. A staking pool is a group of validators who combine their DFI, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Begin Validation

   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 DeFiChain network. You'll be rewarded with DFI for these validations.

What to Be Aware Of

There are transaction and staking pool fees to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.