Earn up to
14% APY in Canada
An in-depth guide on how to stake dYdX (ETHDYDX) in Canada
We have a wealth of information on staking dYdX (ETHDYDX) and we're excited to share some of this with you.
We present you with various staking options featuring other cryptocurrencies that may pique your interest.
dYdX (ETHDYDX) is currently priced at US$14 with a 24-hour trading volume of US$44.17M. The market cap of dYdX stands at US$594.06M, with 448.81M ETHDYDX in circulation. For those looking to buy or trade dYdX, Bitget offers avenues to do so securely and efficiently
Staking dYdX can be an excellent choice for Canadians looking to hold ETHDYDX while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this guide specifically for you.
To stake dYdX, you first need to acquire it. To obtain dYdX, you'll need to purchase it from one of these popular Canadian exchanges.
Once you have ETHDYDX, you'll need to choose a dYdX wallet to store your tokens. Here are some great options available in Canada.
| Platform | Coin | Staking rewards in Canada |
|---|---|---|
| Bitget | dYdX (ETHDYDX) | Up to 14% APY in Canada |
We recommend using a staking pool when staking ETHDYDX. It's simpler and faster to get started. A staking pool is a group of validators who combine their ETHDYDX, which increases their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
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 dYdX network. You'll be rewarded with ETHDYDX for these validations.
In Canada, it's important to consider transaction and staking pool fees. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, which can take some time.
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