How to Stake Maker (MKR) in Australia

Introduction

Staking Maker can be a great option for those who want to hold MKR 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 Maker (MKR) Tokens

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

   Platform	Coin	Cost
   Nexo	Maker (MKR)	2,224.69
   PrimeXBT	Maker (MKR)	1,675.3
   YouHodler	Maker (MKR)	1,813.7
   Binance	Maker (MKR)	1,813.7
   BTSE	Maker (MKR)	1,790.92
   Coinbase	Maker (MKR)	1,386.35

   See all 71 prices

2. 2. Choose a Maker Wallet

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

   Platform	Coin	Staking returns
   YouHodler	Maker (MKR)	Up to 7% % p.a.

3. 3. Delegate Your MKR

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