How to Stake Polkadot (DOT): A Comprehensive Guide for Australians

Introduction

Staking Polkadot can be a great option for those who want to hold DOT 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. Obtain Polkadot (DOT) Tokens
To stake Polkadot, you need to own it. To obtain Polkadot, you'll need to buy it. You can choose from these popular exchanges.
Platform Coin Cost
Nexo Polkadot (DOT) 2.11
PrimeXBT Polkadot (DOT) 2.1
EarnPark Polkadot (DOT) 2.11
YouHodler Polkadot (DOT) 2.1
Binance Polkadot (DOT) 2.1
BTSE Polkadot (DOT) 2.1
See all 67 prices

Platform	Coin	Cost
Nexo	Polkadot (DOT)	2.11
PrimeXBT	Polkadot (DOT)	2.1
EarnPark	Polkadot (DOT)	2.11
YouHodler	Polkadot (DOT)	2.1
Binance	Polkadot (DOT)	2.1
BTSE	Polkadot (DOT)	2.1

2. Choose a Polkadot Wallet

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

Platform	Coin	Staking returns
YouHodler	Polkadot (DOT)	Up to 15% % p.a.
Uphold	Polkadot (DOT)	Up to 9.5% % p.a.
Ankr	Polkadot (DOT)	Up to 0% % p.a.
Bake	Polkadot (DOT)	Up to 10.5% % p.a.
Binance	Polkadot (DOT)	Up to 6.5% % p.a.

View all 30 staking rewards

3. Delegate Your DOT
We recommend using a staking pool when staking DOT. It's simpler and quicker to get started. A staking pool is a group of validators who combine their DOT, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
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 Polkadot network. You'll be rewarded with DOT 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.

Latest Movements

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Market capitalisation: USD 10.07B
24-hour volume: USD 318.92M
Circulating supply: 1.52B DOT

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Polkadot DOT News

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The crypto market is up today, albeit barely. BTC is up 0.3% to $90,247, and ETH is down 0.8% to $3,089. “The decline is not being driven by panic selling, but by hesitation.”