How to Stake Dymension (DYM) in Australia

Introduction

Staking Dymension can be a great option for those who want to hold DYM 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 Dymension (DYM) Tokens

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

   Platform	Coin	Cost
   PrimeXBT	Dymension (DYM)	0.07
   Binance	Dymension (DYM)	0.07
   Kraken	Dymension (DYM)	0.07
   BingX	Dymension (DYM)	0.07
   Bitfinex	Dymension (DYM)	0.07
   Bitget	Dymension (DYM)	0.07

   See all 36 prices

2. 2. Choose a Dymension Wallet

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

   Platform	Coin	Staking returns
   Binance	Dymension (DYM)	Up to 3.88% % p.a.
   Bitget	Dymension (DYM)	Up to 13.8% % p.a.
   Bitmart	Dymension (DYM)	Up to 1% % p.a.
   Bitpanda	Dymension (DYM)	Up to 6% % p.a.
   Chainode Tech	Dymension (DYM)	Up to 9.02% % p.a.
   Kucoin	Dymension (DYM)	Up to 2.5% % p.a.

   View all 13 staking rewards

3. 3. Delegate Your DYM

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