How to Stake dYdX (ETHDYDX): A Step-by-Step Guide for Canadians

Introduction to Cryptocurrency in Canada

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.

Step-by-Step Guide for Canadians

1. Acquire dYdX (ETHDYDX) Tokens in Canada
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.
Platform Coin Cost
PrimeXBT dYdX (ETHDYDX) 0.16
BingX dYdX (ETHDYDX) 0.16
Bitget dYdX (ETHDYDX) 0.88
Bitmart dYdX (ETHDYDX) 0.16
Bitpanda dYdX (ETHDYDX) 1.59
SwissBorg dYdX (ETHDYDX) 0.35
See all 9 prices in Canada
2. Select a dYdX Wallet in Canada
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
3. Delegate Your ETHDYDX 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.
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 dYdX network. You'll be rewarded with ETHDYDX for these validations.

Platform	Coin	Cost
PrimeXBT	dYdX (ETHDYDX)	0.16
BingX	dYdX (ETHDYDX)	0.16
Bitget	dYdX (ETHDYDX)	0.88
Bitmart	dYdX (ETHDYDX)	0.16
Bitpanda	dYdX (ETHDYDX)	1.59
SwissBorg	dYdX (ETHDYDX)	0.35

Platform	Coin	Staking rewards in Canada
Bitget	dYdX (ETHDYDX)	Up to 14% APY in Canada

What Canadians Should Be Aware Of

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.