Where and How to Stake Dai (DAI)

Introduction

Staking Dai can be a great choice for those who want to hold DAI but earn yield in a secure way while contributing to the network. The steps can be a little overwhelming, especially the first time you go through them. That’s why we’ve put this guide together for you.

Step-by-step Guide

1. 1. Get Dai (DAI) Tokens

   To stake Dai, you need to have it. To obtain Dai, you'll need to purchase it. You can choose from these popular exchanges.

   Platform	Loonies	Price
   Uphold	Dai (DAI)	1
   Bitget	Dai (DAI)	1

   See all 25 prices

2. 2. Select a Dai Wallet

   Once you have DAI, you’ll need to choose a Dai wallet to store your tokens. Here are some good options.

   Platform	Loonies	Staking rewards
   YouHodler	Dai (DAI)	Up to 18 annual percentage yield
   Binance	Dai (DAI)	Up to 3.5 annual percentage yield
   MyCointainer	Dai (DAI)	Up to 1 annual percentage yield

   See all 8 staking rewards

3. 3. Delegate Your DAI

   We recommend using a staking pool when staking DAI. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their DAI, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.

4. 4. Start Validating

   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 Dai network. You'll be rewarded with DAI for these validations.

What to be Aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.