How to Stake Desmos (DSM) in Australia

Introduction

Staking Desmos can be a great option for those who want to hold DSM 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 Desmos (DSM) Tokens

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

2. 2. Choose a Desmos Wallet

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

   Platform	Coin	Staking returns
   Stakewolle	Desmos (DSM)	Up to 19.73% % p.a.

3. 3. Delegate Your DSM

   We recommend using a staking pool when staking DSM. It's simpler and quicker to get started. A staking pool is a group of validators who combine their DSM, 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 Desmos network. You'll be rewarded with DSM 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.