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

Introduction to Cryptocurrency in Canada

Staking dYdX (Wormhole) can be an excellent choice for Canadians looking to hold DYDX 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 (Wormhole) (DYDX) Tokens in Canada

To stake dYdX (Wormhole), you first need to acquire it. To obtain dYdX (Wormhole), you'll need to purchase it from one of these popular Canadian exchanges.

Platform	Coin	Cost
Nexo	dYdX (Wormhole) (DYDX)	0.17
Binance	dYdX (Wormhole) (DYDX)	0.17
BTSE	dYdX (Wormhole) (DYDX)	0.64
Kraken	dYdX (Wormhole) (DYDX)	0.17
OKX	dYdX (Wormhole) (DYDX)	0.66
Uphold	dYdX (Wormhole) (DYDX)	0.58

See all 46 prices in Canada

2. Select a dYdX (Wormhole) Wallet in Canada
Once you have DYDX, you'll need to choose a dYdX (Wormhole) wallet to store your tokens. Here are some great options available in Canada.
Platform Coin Staking rewards in Canada
Binance dYdX (Wormhole) (DYDX) Up to 2.19% APY in Canada
See all 4 staking rewards in Canada
3. Delegate Your DYDX in Canada
We recommend using a staking pool when staking DYDX. It's simpler and faster to get started. A staking pool is a group of validators who combine their DYDX, 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 (Wormhole) network. You'll be rewarded with DYDX for these validations.

Platform	Coin	Staking rewards in Canada
Binance	dYdX (Wormhole) (DYDX)	Up to 2.19% 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.